Document:

Exhibit
      10.7

    

    GUARANTEE

    

    GUARANTEE,
      dated as of November 30, 2007, made by each of the signatories hereto (together
      with any other entity that may become a party hereto as provided herein, (the
      “Guarantors”),
      in
      favor of the Purchasers signatory (collectively, the "Purchasers")
      to
      that certain Securities Purchase Agreement, dated as of the date hereof, between
      United Benefits and Pension Services, Inc., a Delaware corporation (“UBPS”),
      Associated Third Party Administrators, a California corporation (the
“Company”)
      and
      the Purchasers. 

    

    W
      I T N E S S E T H:

    

    Whereas,
      pursuant to that certain Securities Purchase Agreement, dated as of the date
      hereof, by and between the Company, UBPS, and the Purchasers (the “Purchase
      Agreement”),
      the
      Company has agreed to sell and issue to the Purchasers, and the Purchasers
      have
      agreed to purchase from the Company the Company’s Senior Secured Note, due May
      30, 2011 (the
      “Note”),
      subject to the terms and conditions set forth therein; and

    

    Whereas,
      each Guarantor will directly benefit from the extension of credit to the Company
      represented by the issuance of the Note; and

    

    NOW,
      THEREFORE, in consideration of the premises and to induce the Purchasers to
      enter into the Purchase Agreement and to carry out the transactions contemplated
      thereby, each Guarantor hereby agrees with the Purchasers as
      follows:

     

    1. Definitions.
      Unless
      otherwise defined herein, terms defined in the Purchase Agreement and used
      herein shall have the meanings given to them in the Purchase Agreement. The
      words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import
      when used in this Guarantee shall refer to this Guarantee as a whole and not
      to
      any particular provision of this Guarantee, and Section and Schedule references
      are to this Guarantee unless otherwise specified. The meanings given to terms
      defined herein shall be equally applicable to both the singular and plural
      forms
      of such terms. The following terms shall have the following
      meanings:

    

    “Guarantee”
means
      this Guarantee, as the same may be amended, supplemented or otherwise modified
      from time to time.

    

    “Obligations”
means
      the collective reference to all obligations and undertakings of the Company
      of
      whatever nature, monetary or otherwise, under the Notes,
      the
      Purchase Agreement, the Security Agreement, the Warrants, the Registration
      Rights Agreement or any other future agreement or obligations undertaken by
      the
      Company or UBPS to the Purchasers, together with all reasonable attorneys’ fees,
      disbursements and all other costs and expenses of collection incurred by
      Purchasers in enforcing any of such Obligations and/or this Guarantee.

     

    2. Guarantee.

    

    (a) Guarantee.

     

    
      	 	
              (i)

            	
              The
                Guarantors hereby, jointly and severally, unconditionally and irrevocably,
                guarantee to the Purchasers and their respective successors, indorsees,
                transferees and assigns, the prompt and complete payment and performance
                by the Company and UBPS when due (whether at the stated maturity,
                by
                acceleration or otherwise) of the Obligations.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (ii)

            	
              Anything
                herein or in any other Transaction Document to the contrary
                notwithstanding, the maximum liability of each Guarantor hereunder
                and
                under the other Transaction Documents shall in no event exceed the
                amount
                which can be guaranteed by such Guarantor under applicable federal
                and
                state laws, including laws relating to the insolvency of debtors,
                fraudulent conveyance or transfer or laws affecting the rights of
                creditors generally (after giving effect to the right of contribution
                established in Section 2(b)). 

            

    

    

    
      	 	
              (iii)

            	
              Each
                Guarantor agrees that the Obligations may at any time and from time
                to
                time exceed the amount of the liability of such Guarantor hereunder
                without impairing the guarantee contained in this Section 2 or affecting
                the rights and remedies of the Purchasers
                hereunder.

            

    

    

    
      	 	
              (iv)

            	
              The
                guarantee contained in this Section 2 shall remain in full force
                and
                effect until all the Obligations and the obligations of each Guarantor
                under the guarantee contained in this Section 2 shall have been satisfied
                by payment in full. 

            

    

    

    
      	 	
              (v)

            	
              No
                payment made by the Company, UBPS, any of the Guarantors, any other
                guarantor or any other Person or received or collected by the Purchasers
                from the Company, UBPS, any of the Guarantors, any other guarantor
                or any
                other Person by virtue of any action or proceeding or any set-off
                or
                appropriation or application at any time or from time to time in
                reduction
                of or in payment of the Obligations shall be deemed to modify, reduce,
                release or otherwise affect the liability of any Guarantor hereunder
                which
                shall, notwithstanding any such payment (other than any payment made
                by
                such Guarantor in respect of the Obligations or any payment received
                or
                collected from such Guarantor in respect of the Obligations), remain
                liable for the Obligations up to the maximum liability of such Guarantor
                hereunder until the Obligations are paid in
                full.

            

    

    

    
      	 	
              (vi)

            	
              Notwithstanding
                anything to the contrary in this Agreement, with respect to any defaulted
                non-monetary Obligations the specific performance of which by the
                Guarantors is not reasonably possible (e.g. the issuance of the Company's
                Common Stock), the Guarantors shall only be liable for making the
                Purchasers whole on a monetary basis for the Company's failure to
                perform
                such Obligations in accordance with the Transaction Documents.
                

            

    

     

    
      
        
        

      

      
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    (b) Right
      of Contribution.
      Each
      Guarantor hereby agrees that to the extent that a Guarantor shall have paid
      more
      than its proportionate share of any payment made hereunder, such Guarantor
      shall
      be entitled to seek and receive contribution from and against any other
      Guarantor hereunder which has not paid its proportionate share of such payment.
      Each Guarantor's right of contribution shall be subject to the terms and
      conditions of Section 2(c). The provisions of this Section 2(b) shall in no
      respect limit the obligations and liabilities of any Guarantor to the
      Purchasers, and each Guarantor shall remain liable to the Purchasers for the
      full amount guaranteed by such Guarantor hereunder.

     

    (c) No
      Subrogation.
      Notwithstanding any payment made by any Guarantor hereunder or any set-off
      or
      application of funds of any Guarantor by the Purchasers, no Guarantor shall
      be
      entitled to be subrogated to any of the rights of the Purchasers against the
      Company or any other Guarantor or any collateral security or guarantee or right
      of offset held by the Purchasers for the payment of the Obligations, nor shall
      any Guarantor seek or be entitled to seek any contribution or reimbursement
      from
      the Company or any other Guarantor in respect of payments made by such Guarantor
      hereunder, until all amounts owing to the Purchasers by the Company on account
      of the Obligations are paid in full. If any amount shall be paid to any
      Guarantor on account of such subrogation rights at any time when all of the
      Obligations shall not have been paid in full, such amount shall be held by
      such
      Guarantor in trust for the Purchasers, segregated from other funds of such
      Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over
      to the Purchasers in the exact form received by such Guarantor (duly indorsed
      by
      such Guarantor to the Purchasers, if required), to be applied against the
      Obligations, whether matured or unmatured, in such order as the Purchasers
      may
      determine.

     

    (d) Amendments,
      Etc. With Respect to the Obligations.
      Each
      Guarantor shall remain obligated hereunder notwithstanding that, without any
      reservation of rights against any Guarantor and without notice to or further
      assent by any Guarantor, any demand for payment of any of the Obligations made
      by the Purchasers may be rescinded by the Purchasers and any of the Obligations
      continued, and the Obligations, or the liability of any other Person upon or
      for
      any part thereof, or any collateral security or guarantee therefor or right
      of
      offset with respect thereto, may, from time to time, in whole or in part, be
      renewed, extended, amended, modified, accelerated, compromised, waived,
      surrendered or released by the Purchasers, and the Purchase Agreement and the
      other Transaction Documents and any other documents executed and delivered
      in
      connection therewith may be amended, modified, supplemented or terminated,
      in
      whole or in part, as the Purchasers may deem advisable from time to time, and
      any collateral security, guarantee or right of offset at any time held by the
      Purchasers for the payment of the Obligations may be sold, exchanged, waived,
      surrendered or released. The Purchasers shall have no obligation to protect,
      secure, perfect or insure any Lien at any time held by them as security for
      the
      Obligations or for the guarantee contained in this Section 2 or any property
      subject thereto. 

     

    
      
        
        

      

      
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    (e) Guarantee
      Absolute and Unconditional.
      Each
      Guarantor waives any and all notice of the creation, renewal, extension or
      accrual of any of the Obligations and notice of or proof of reliance by the
      Purchasers upon the guarantee contained in this Section 2 or acceptance of
      the
      guarantee contained in this Section 2; the Obligations, and any of them, shall
      conclusively be deemed to have been created, contracted or incurred, or renewed,
      extended, amended or waived, in reliance upon the guarantee contained in this
      Section 2; and all dealings between the Company and any of the Guarantors,
      on
      the one hand, and the Purchasers, on the other hand, likewise shall be
      conclusively presumed to have been had or consummated in reliance upon the
      guarantee contained in this Section 2. Each Guarantor waives to the extent
      permitted by law diligence, presentment,
      protest, demand for payment and notice of default or nonpayment to or upon
      the
      Company or any of the Guarantors with respect to the Obligations. Each Guarantor
      understands and agrees that the guarantee contained in this Section 2 shall
      be
      construed as a continuing, absolute and unconditional guarantee of payment
      without regard to (a) the validity or enforceability of the Purchase Agreement
      or any other Transaction Document, any of the Obligations or any other
      collateral security therefor or guarantee or right of offset with respect
      thereto at any time or from time to time held by the Purchasers, (b) any
      defense, set-off or counterclaim (other than a defense of payment or performance
      or fraud or misconduct by Purchasers) which may at any time be available to
      or
      be asserted by the Company or any other Person against the Purchasers, or (c)
      any other circumstance whatsoever (with or without notice to or knowledge of
      the
      Company or such Guarantor) which constitutes, or might be construed to
      constitute, an equitable or legal discharge of the Company for the Obligations,
      or of such Guarantor under the guarantee contained in this Section 2, in
      bankruptcy or in any other instance. When making any demand hereunder or
      otherwise pursuing its rights and remedies hereunder against any Guarantor,
      the
      Purchasers may, but shall be under no obligation to, make a similar demand
      on or
      otherwise pursue such rights and remedies as it may have against the Company,
      any other Guarantor or any other Person or against any collateral security
      or
      guarantee for the Obligations or any right of offset with respect thereto,
      and
      any failure by the Purchasers to make any such demand, to pursue such other
      rights or remedies or to collect any payments from the Company, any other
      Guarantor or any other Person or to realize upon any such collateral security
      or
      guarantee or to exercise any such right of offset, or any release of the
      Company, any other Guarantor or any other Person or any such collateral
      security, guarantee or right of offset, shall not relieve any Guarantor of
      any
      obligation or liability hereunder, and shall not impair or affect the rights
      and
      remedies, whether express, implied or available as a matter of law, of the
      Purchasers against any Guarantor. For the purposes hereof, "demand" shall
      include the commencement and continuance of any legal proceedings.

     

    (f) Reinstatement.
      The
      guarantee contained in this Section 2 shall continue to be effective, or be
      reinstated, as the case may be, if at any time payment, or any part thereof,
      of
      any of the Obligations is rescinded or must otherwise be restored or returned
      by
      the Purchasers upon the insolvency, bankruptcy, dissolution, liquidation or
      reorganization of the Company or any Guarantor, or upon or as a result of the
      appointment of a receiver, intervenor or conservator of, or trustee or similar
      officer for, the Company or any Guarantor or any substantial part of its
      property, or otherwise, all as though such payments had not been
      made.

    

    (g) Payments.
      Each
      Guarantor hereby guarantees that payments hereunder will be paid to the
      Purchasers without set-off or counterclaim in U.S. dollars at the address set
      forth or referred to in the Purchase Agreement.

    

    3. Representations
      and Warranties.
      Each
      Guarantor hereby makes the following representations and warranties to
      Purchasers as of the date hereof:

     

    
      
        
        

      

      
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    (a) Organization
      and Qualification.
      The
      Guarantor is a corporation or limited liability company, duly incorporated,
      validly existing and in good standing under the laws of the applicable
      jurisdiction set forth on Schedule 1, with the requisite corporate power and
      authority to own and use its properties and assets and to carry on its business
      as currently conducted. The Guarantor has no subsidiaries other than those
      identified as such on the Disclosure Schedules to the Purchase Agreement. The
      Guarantor is duly qualified to do business and is in good standing as a foreign
      corporation in each jurisdiction in which the nature of the business conducted
      or property owned by it makes such qualification necessary, except where the
      failure to be so qualified or in good standing, as the case may be, could not,
      individually or in the aggregate, (x) adversely affect the legality, validity
      or
      enforceability of any of this Guaranty in any material respect, (y) have a
      material adverse effect on the results of operations, assets, prospects, or
      financial condition of the Guarantor or (z) adversely impair in any material
      respect the Guarantor's ability to perform fully on a timely basis its
      obligations under this Guaranty (a "Material
      Adverse Effect").

     

    (b) Authorization;
      Enforcement.
      The
      Guarantor has the requisite corporate power and authority to enter into and
      to
      consummate the transactions contemplated by this Guaranty, and otherwise to
      carry out its obligations hereunder. The execution and delivery of this Guaranty
      by the Guarantor and the consummation by it of the transactions contemplated
      hereby have been duly authorized by all requisite corporate action on the part
      of the Guarantor. This Guaranty has been duly executed and delivered by the
      Guarantor and constitutes the valid and binding obligation of the Guarantor
      enforceable against the Guarantor in accordance with its terms, except as such
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium, liquidation or similar laws relating to, or
      affecting generally the enforcement of, creditors' rights and remedies or by
      other equitable principles of general application.

    

    (c) No
      Conflicts.
      The
      execution, delivery and performance of this Guaranty by the Guarantor and the
      consummation by the Guarantor of the transactions contemplated thereby do not
      and will not (i) conflict with or violate any provision of its Certificate
      of
      Incorporation or By-laws or (ii) conflict with, constitute a default (or an
      event which with notice or lapse of time or both would become a default) under,
      or give to others any rights of termination, amendment, acceleration or
      cancellation of, any agreement, indenture or instrument to which the Guarantor
      is a party, or (iii) result in a violation of any law, rule, regulation, order,
      judgment, injunction, decree or other restriction of any court or governmental
      authority to which the Guarantor is subject (including Federal and state
      securities laws and regulations), or by which any material property or asset
      of
      the Guarantor is bound or affected, except in the case of each of clauses (ii)
      and (iii), such conflicts, defaults, terminations, amendments, accelerations,
      cancellations and violations as could not, individually or in the aggregate,
      have or result in a Material Adverse Effect. The business of the Guarantor
      is
      not being conducted in violation of any law, ordinance or regulation of any
      governmental authority, except for violations which, individually or in the
      aggregate, do not have a Material Adverse Effect.

     

    (d) Consents
      and Approvals.
      The
      Guarantor is not required to obtain any consent, waiver, authorization or order
      of, or make any filing or registration with, any court or other federal, state,
      local, foreign or other governmental authority or other person in connection
      with the execution, delivery and performance by the Guarantor of this
      Guaranty.

    

    (e) Purchase
      Agreement.
      The
      representations and warranties of the Company set forth in the Purchase
      Agreement as they relate to such Guarantor, each of which is hereby incorporated
      herein by reference, are true and correct as of each time such representations
      are deemed to be made pursuant to such Purchase Agreement, and the Purchasers
      shall be entitled to rely on each of them as if they were fully set forth
      herein, provided, that each reference in each such representation and warranty
      to the Company's knowledge shall, for the purposes of this Section 3, be deemed
      to be a reference to such Guarantor's knowledge. 

    

    
      
        
        

      

      
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    4. Covenants.
      Each
      Guarantor covenants and agrees with the Purchasers that, from and after the
      date
      of this Guarantee until the Obligations shall have been paid in full, such
      Guarantor shall take, and/or shall refrain from taking, as the case may be,
      each
      commercially reasonable action that is necessary to be taken or not taken,
      as
      the case may be, so that no Event of Default is caused by the failure to take
      such action or to refrain from taking such action by such Guarantor.
      Additionally, each Guarantor agrees to be bound by the covenants set forth
      in
      the Note as if fully set forth herein.

     

    5. Miscellaneous.

    

    (a) Amendments
      in Writing.
      None of
      the terms or provisions of this Guarantee may be waived, amended, supplemented
      or otherwise modified except in writing by the Purchasers.

     

    (b) Notices.
      All
      notices, requests and demands to or upon the Purchasers or any Guarantor
      hereunder shall be affected in the manner provided for in the Purchase
      Agreement; provided
      that any
      such notice, request or demand to or upon any Guarantor shall be addressed
      to
      such Guarantor at its notice address set forth on Schedule
      5(b).

    

    (c) No
      Waiver By Course Of Conduct; Cumulative Remedies.
      The
      Purchasers shall not by any act (except by a written instrument pursuant to
      Section 5(a)), delay, indulgence, omission or otherwise be deemed to have waived
      any right or remedy hereunder or to have acquiesced in any default under the
      Transaction Documents or Event of Default. No failure to exercise, nor any
      delay
      in exercising, on the part of the Purchasers, any right, power or privilege
      hereunder shall operate as a waiver thereof. No single or partial exercise
      of
      any right, power or privilege hereunder shall preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege. A
      waiver by the Purchasers of any right or remedy hereunder on any one occasion
      shall not be construed as a bar to any right or remedy which the Purchasers
      would otherwise have on any future occasion. The rights and remedies herein
      provided are cumulative, may be exercised singly or concurrently and are not
      exclusive of any other rights or remedies provided by law.

    

    (d) Enforcement
      Expenses;
      Indemnification.

    

    
      	 	
              (i)

            	
              Each
                Guarantor agrees to pay, or reimburse the Purchasers for, all its
                costs
                and expenses incurred in collecting against such Guarantor under
                the
                guarantee contained in Section 2 or otherwise enforcing or preserving
                any
                rights under this Guarantee and the other Transaction Documents to
                which
                such Guarantor is a party, including, without limitation, the reasonable
                fees and disbursements of counsel to the
                Purchasers.

            

    

     

    
      	 	
              (ii)

            	
              Each
                Guarantor agrees to pay, and to save the Purchasers harmless from,
                any and
                all liabilities with respect to, or resulting from any delay in paying,
                any and all stamp, excise, sales or other taxes which may be payable
                or
                determined to be payable in connection with any of the transactions
                contemplated by this Guarantee.

            

    

     

    
      
        
        

      

      
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              (iii)

            	
              Each
                Guarantor agrees to pay, and to save the Purchasers harmless from,
                any and
                all liabilities, obligations, losses, damages, penalties, actions,
                judgments, suits, costs, expenses or disbursements of any kind or
                nature
                whatsoever with respect to the execution, delivery, enforcement,
                performance and administration of this Guarantee to the extent the
                Company
                would be required to do so pursuant to the Purchase
                Agreement.

            

    

    

    
      	 	
              (iv)

            	
              The
                agreements in this Section shall survive repayment of the Obligations
                and
                all other amounts payable under the Purchase Agreement and the other
                Transaction Documents. 

            

    

    

    (e) Successor
      and Assigns.
      This
      Guarantee shall be binding upon the successors and assigns of each Guarantor
      and
      shall inure to the benefit of the Purchasers and their respective successors
      and
      assigns; provided that no Guarantor may assign, transfer or delegate any of
      its
      rights or obligations under this Guarantee without the prior written consent
      of
      the Purchasers.

     

    (f) Set-Off.
      Each
      Guarantor hereby irrevocably authorizes the Purchasers at any time and from
      time
      to time while an Event of Default under any of the Transaction Documents shall
      have occurred and be continuing, without notice to such Guarantor or any other
      Guarantor, any such notice being expressly waived by each Guarantor, to set-off
      and appropriate and apply any and all deposits, credits, indebtedness or claims,
      in any currency, in each case whether direct or indirect, absolute or
      contingent, matured or unmatured, at any time held or owing by the Purchasers
      to
      or for the credit or the account of such Guarantor, or any part thereof in
      such
      amounts as the Purchasers may elect, against and on account of the obligations
      and liabilities of such Guarantor to the Purchasers hereunder and claims of
      every nature and description of the Purchasers against such Guarantor, in any
      currency, whether arising hereunder, under the Purchase Agreement, any other
      Transaction Document or otherwise, as the Purchasers may elect, whether or
      not
      the Purchasers have made any demand for payment and although such obligations,
      liabilities and claims may be contingent or unmatured. The Purchasers shall
      notify such Guarantor promptly of any such set-off and the application made
      by
      the Purchasers of the proceeds thereof, provided that the failure to give such
      notice shall not affect the validity of such set-off and application. The rights
      of the Purchasers under this Section are in addition to other rights and
      remedies (including, without limitation, other rights of set-off) which the
      Purchasers may have.

     

    (g) Counterparts.
      This
      Guarantee may be executed by one or more of the parties to this Guarantee on
      any
      number of separate counterparts (including by telecopy), and all of said
      counterparts taken together shall be deemed to constitute one and the same
      instrument. 

    

    (h) Severability.
      Any
      provision of this Guarantee which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. 

     

    
      
        
        

      

      
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    (i) Section
      Headings.
      The
      Section headings used in this Guarantee are for convenience of reference only
      and are not to affect the construction hereof or be taken into consideration
      in
      the interpretation hereof.

    

    (j) Integration.
      This
      Guarantee and the other Transaction Documents represent the agreement of the
      Guarantors and the Purchasers with respect to the subject matter hereof and
      thereof, and there are no promises, undertakings, representations or warranties
      by the Purchasers relative to subject matter hereof and thereof not expressly
      set forth or referred to herein or in the other Transaction
      Documents.

    

    (k) Governing
      Law.
      THIS
      GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
      WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY PRINCIPLES OF
      CONFLICTS OF LAWS. 

    

    (l) Submission
      to Jurisdictional; Waiver.
      Each
      Guarantor hereby irrevocably
      and unconditionally:

    

    
      	 	
              (i)

            	
              submits
                for itself and its property in any legal action or proceeding relating
                to
                this Guarantee and the other Transaction Documents to which it is
                a party,
                or for recognition and enforcement of any judgment in respect thereof,
                to
                the non-exclusive general jurisdiction of the Courts of the State
                of New
                York, located in New York County, New York, the courts of the United
                States of America for the Southern District of New York, and appellate
                courts from any thereof; 

            

    

     

    
      	 	
              (ii)

            	
              consents
                that any such action or proceeding may be brought in such courts
                and
                waives any objection that it may now or hereafter have to the venue
                of any
                such action or proceeding in any such court or that such action or
                proceeding was brought in an inconvenient court and agrees not to
                plead or
                claim the same; 

            

    

    

    
      	 	
              (iii)

            	
              agrees
                that service of process in any such action or proceeding may be effected
                by mailing a copy thereof by registered or certified mail (or any
                substantially similar form of mail), postage prepaid, to such Guarantor
                at
                its address referred to in the Purchase Agreement or at such other
                address
                of which the Purchasers shall have been notified pursuant
                thereto;

            

    

    

    
      	 	
              (iv)

            	
              agrees
                that nothing herein shall affect the right to effect service of process
                in
                any other manner permitted by law or shall limit the right to sue
                in any
                other jurisdiction; and 

            

    

    

    
      	 	
              (v)

            	
              waives,
                to the maximum extent not prohibited by law, any right it may have
                to
                claim or recover in any legal action or proceeding referred to in
                this
                Section any special, exemplary, punitive or consequential damages.
                

            

    

     

    
      
        
        

      

      
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    (m) Acknowledgements.
      Each
      Guarantor hereby acknowledges that:

    

    
      	 	
              (i)

            	
              it
                has been advised by counsel in the negotiation, execution and delivery
                of
                this Guarantee and the other Transaction Documents to which it is
                a party;
                

            

    

     

    
      	 	
              (ii)

            	
              the
                Purchasers have no fiduciary relationship with or duty to any Guarantor
                arising out of or in connection with this Guarantee or any of the
                other
                Transaction Documents, and the relationship between the Guarantors,
                on the
                one hand, and the Purchasers, on the other hand, in connection herewith
                or
                therewith is solely that of debtor and creditor; and
                

            

    

    

    
      	 	
              (iii)

            	
              no
                joint venture is created hereby or by the other Transaction Documents
                or
                otherwise exists by virtue of the transactions contemplated hereby
                among
                the Guarantors and the Purchasers. 

            

    

    

    (n) Additional
      Guarantors.
      The
      Company shall cause each of its subsidiaries formed or acquired on or subsequent
      to the date hereof to become a Guarantor for all purposes of this Guarantee
      by
      executing and delivering an Assumption
      Agreement in the form of Annex 1 hereto.

     

    (o) Release
      of Guarantors.
      Subject
      to Section 2(f), each Guarantor will be released from all liability hereunder
      concurrently with the repayment in full of all amounts owed under the Purchase
      Agreement, the Notes and the other Transaction Documents. 

    

    (p) Seniority.
      The
      Obligations of each of the Guarantors hereunder rank senior in priority to
      debt
      of such Guarantor. 

    

    (q) Waiver
      of Jury Trial.
      EACH
      GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE PURCHASERS, HEREBY
      IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR
      PROCEEDING RELATING TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM
      THEREIN.

     

    
      
        
        

      

      
        9
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          13

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, each of the undersigned has caused this Guarantee to
      be
      duly executed and delivered as of the date first above written.

    

    
      	
              UNITED
                BENEFITS & PENSION SERVICES, INC. 

            	 
	 	 
	 	 
	
              By:

            	
              /s/
                Richard Stierwalt

            	 	 
	
              Name:   Richard
                Stierwalt

            	 
	
              Title:     Chief
                Executive Officer

            	 
	 	 
	 	 
	
              SUBSIDIARY

            	 
	 	 
	 	 
	
              By:

            	 	 	 
	
              Name:

            	 
	
              Title:

            	 
	 	 
	 	 
	
              SUBSIDIARY

            	 
	 	 
	 	 
	
              By:

            	 	 	 
	
              Name:

            	 
	
              Title:

            	 

    

    

    
      
        
        

      

      
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    SCHEDULE
      1

    

    GUARANTORS

    

    The
      following are the names, notice addresses and jurisdiction of organization
      of
      each Guarantor.

    

    
      	
              NAME

            	 	
              ADDRESS

            	 	
              JURISDICTION
                OF

              INCORPORATION

            
	 	 	 	 	 
	
              United
                Benefits & Pension Services, Inc.

            	 	
              501
                Kings Highway East, Suite 108

              Fairfield,
                CT 06825

            	 	
              Delaware

            

    

    

    
      
        
        

      

      
        11
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          13

        
          

        

      

      
        
        

      

    

    Annex
      1
      to

    SUBSIDIARY
      GUARANTEE

    

    ASSUMPTION
      AGREEMENT, dated as of ____ __, ______ made by ______________________________,
      a
      ______________ corporation (the "Additional
      Guarantor"),
      in
      favor of the Purchasers pursuant to the Purchase Agreement referred to below.
      All capitalized terms not defined herein shall have the meaning ascribed to
      them
      in such Purchase Agreement. 

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      United Benefits and Pension Services, Inc., a California corporation (the
      "Company")
      and
      the Purchasers have entered into an Securities Purchase Agreement, dated as
      of
      November 30, 2007 (as amended, supplemented or otherwise modified from time
      to
      time, the "Purchase
      Agreement");
      

    

    WHEREAS,
      in connection with the Purchase Agreement, the Company and its Subsidiaries
      (other than the Additional Guarantor) have entered into the Subsidiary
      Guarantee, dated as of November 30, 2007 (as amended, supplemented or otherwise
      modified from time to time, the "Guarantee")
      in
      favor of the Purchasers; 

    

    WHEREAS,
      the Purchase Agreement requires the Additional Guarantor to become a party
      to
      the Guarantee; and

    

    WHEREAS,
      the Additional Guarantor has agreed to execute and deliver
      this Assumption Agreement in order to become a party to the
      Guarantee;

    

    NOW,
      THEREFORE, IT IS AGREED:

    

    1. Guarantee.
      By
      executing and delivering this Assumption Agreement, the Additional Guarantor,
      as
      provided in Section 5(n) of the Guarantee, hereby becomes a party to the
      Guarantee as a Guarantor thereunder with the same force and effect as if
      originally named therein as a Guarantor and, without limiting the generality
      of
      the foregoing, hereby expressly assumes all obligations and liabilities of
      a
      Guarantor thereunder. The information set forth in Annex 1-A hereto is hereby
      added to the information set forth in Schedule 1 to the Guarantee. The
      Additional Guarantor hereby represents and warrants that each of the
      representations and warranties contained in Section 3 of the Guarantee is true
      and correct on and as the date hereof as to such Additional Guarantor (after
      giving effect to this Assumption Agreement) as if made on and as of such
      date.

     

    2. Governing
      Law.
      THIS
      ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
      ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     

    
      
        
        

      

      
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          of
          13

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned has caused this Assumption Agreement
      to be duly executed and delivered as of the date first above
      written.

    

    
      	 	
              [ADDITIONALGUARANTOR]

            
	 	 
	 	
              By:

            	 	 
	 	
              Name:

            
	 	
              Title:

            

    

    

    
      
        
        

      

      
        13
          of
          13Exhibit
      10.8

    

    SECURITY
      AGREEMENT

    

    SECURITY
      AGREEMENT, dated as of November 30, 2007 (this “Agreement”), among Associated
      Third Party Administrators, a California corporation ( the “Company”), United
      Benefits & Pension Services, Inc., a Delaware corporation (”UBPS”) and all
      of the Subsidiaries of the Company
      (other
      than Trust Benefits Online, LLC) (UBPS and such subsidiaries,
      the
“Guarantors”) (the Company, UBPS and Guarantors are collectively
      referred to as the “Debtors”) and the holder or holders of the Company’s Senior
      Secured Notes due May 30, 2011 in the original aggregate principal amount of
      $8,000,000 (the “Notes”), signatory hereto, their endorsees, transferees and
      assigns (collectively referred to as, the “Secured Parties”).

    

    WITNESSETH:

    

    WHEREAS,
      pursuant to the Notes, the Secured Parties have severally agreed to extend
      the
      loans to ATPA, a subsidiary of the Company evidenced by the Notes; 

    

    WHEREAS,
      pursuant to a certain Guarantee dated as of the date hereof (the “Guaranty”),
      the
      Guarantors
      have
      jointly and severally agreed to guaranty and act as surety for payment of such
      loans; and

    

    WHEREAS,
      in order to induce the Secured Parties to extend the loans evidenced by the
      Notes, each Debtor has agreed to execute and deliver to the Secured Parties
      this
      Agreement and to grant the Secured Parties, pari
      passu
      with
      each other Secured Party, a perfected security interest in all of the property
      of such Debtor to secure the prompt payment, performance and discharge in full
      of all of the Company’s obligations under the Notes and the other Debtors’
obligations under the Guaranty.

    

    NOW,
      THEREFORE, in consideration of the agreements herein contained and for other
      good and valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, the parties hereto hereby agree as follows:

    

    1.
       Certain
      Definitions.
      As used
      in this Agreement, the following terms shall have the meanings set forth in
      this
      Section 1. Terms used but not otherwise defined in this Agreement that are
      defined in Article 9 of the UCC (such as “account”, “chattel paper”, “commercial
      tort claim”, “deposit account”, “document”, “equipment”, “fixtures”, “general
      intangibles”, “goods”, “instruments”, “inventory”, “investment property”,
“letter-of-credit rights”, “proceeds” and “supporting obligations”) shall have
      the respective meanings given such terms in Article 9 of the UCC.

    

    (a)
       “Collateral”
means
      the collateral in which the Secured Parties are granted a security interest
      by
      this Agreement and which shall include the following personal property of the
      Debtors, whether presently owned or existing or hereafter acquired or coming
      into existence, wherever situated, and all additions and accessions thereto
      and
      all substitutions and replacements thereof, and all proceeds, products and
      accounts thereof, including, without limitation, all proceeds from the sale
      or
      transfer of the Collateral and of insurance covering the same and of any tort
      claims in connection therewith,
      and all
      dividends, interest, cash, notes, securities, equity interest or other property
      at any time and from time to time acquired, receivable or otherwise distributed
      in respect of, or in exchange for, any or all of the Pledged Securities (as
      defined below):

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (i)
      All
      goods, including, without limitations, (A) all machinery, equipment, computers,
      motor vehicles, trucks, tanks, boats, ships, appliances, furniture, special
      and
      general tools, fixtures, test and quality control devices and other equipment
      of
      every kind and nature and wherever situated, together with all documents of
      title and documents representing the same, all additions and accessions thereto,
      replacements therefor, all parts therefor, and all substitutes for any of the
      foregoing and all other items used and useful in connection with any Debtor’s
      businesses and all improvements thereto; and (B) all inventory;

    

    (ii)
       All
      contract rights and other general intangibles, including, without limitation,
      all partnership interests, membership interests, stock or other securities,
      rights
      under any of the Organizational Documents, agreements related to the Pledged
      Securities, licenses,
      distribution and other agreements, computer software (whether “off-the-shelf”,
      licensed from any third party or developed by any Debtor), computer software
      development rights, leases, franchises, customer lists, quality control
      procedures, grants and rights, goodwill, trademarks, service marks, trade
      styles, trade names, patents, patent applications, copyrights, Intellectual
      Property, and income tax refunds; 

     

    (iii)
       All
      accounts, together with all instruments, all documents of title representing
      any
      of the foregoing, all rights in any merchandising, goods, equipment, motor
      vehicles and trucks which any of the same may represent, and all right, title,
      security and guaranties with respect to each account, including any right of
      stoppage in transit; 

    

    (iv)
       All
      documents, letter-of-credit rights, instruments and chattel paper;

    

    (v) All
      commercial tort claims;

    

    (vi) All
      deposit accounts and all cash (whether or not deposited in such deposit
      accounts);

    

    (vii) All
      investment property;

    

    (viii) All
      supporting obligations; and

    

    (ix) All
      files, records, books of account, business papers, and computer programs;
      and

    

    (x) the
      products and proceeds of all of the foregoing Collateral set forth in clauses
      (i)-(ix) above.

    

    Without
      limiting the generality of the foregoing, the “Collateral”
shall
      include all investment property and general intangibles respecting ownership
      and/or other equity interests in each Guarantor (other than equity interests
      in
      UBPS), including, without limitation, the shares of capital stock and the other
      equity interests listed on Schedule
      H
      hereto
      (as the same may be modified from time to time pursuant to the terms hereof),
      and any other shares of capital stock and/or other equity interests of any
      other
      direct or indirect subsidiary of any Debtor obtained in the future, and, in
      each
      case, all certificates representing such shares and/or equity interests and,
      in
      each case, all rights, options, warrants, stock, other securities and/or equity
      interests that may hereafter be received, receivable or distributed in respect
      of, or exchanged for, any of the foregoing (all of the foregoing being referred
      to herein as the “Pledged
      Securities”)
      and
      all rights arising under or in connection with the Pledged Securities,
      including, but not limited to, all dividends, interest and cash.
      .

     

    
      
        
        

      

      
        2
          of
          33

        
          

        

      

      
        
        

      

    

     

    Notwithstanding
      the foregoing, nothing herein shall be deemed to constitute an assignment of
      any
      asset which, in the event of an assignment, becomes void by operation of
      applicable law or the assignment of which is otherwise prohibited by applicable
      law (in each case to the extent that such applicable law is not overridden
      by
      Sections 9-406, 9-407 and/or 9-408 of the UCC or other similar applicable law);
      provided, however, that to the extent permitted by applicable law, this
      Agreement shall create a valid security interest in such asset and, to the
      extent permitted by applicable law, this Agreement shall create a valid security
      interest in the proceeds of such asset.

    

    (b)
       “Intellectual
      Property”
means
      the collective reference to all rights, priorities and privileges relating
      to
      intellectual property, whether arising under United States, multinational or
      foreign laws or otherwise, including, without limitation, (i) all copyrights
      arising under the laws of the United States, any other country or any political
      subdivision thereof, whether registered or unregistered and whether published
      or
      unpublished, all registrations and recordings thereof, and all applications
      in
      connection therewith, including, without limitation, all registrations,
      recordings and applications in the United States Copyright Office, (ii) all
      letters patent of the United States, any other country or any political
      subdivision thereof, all reissues and extensions thereof, and all applications
      for letters patent of the United States or any other country and all divisions,
      continuations and continuations-in-part thereof, (iii) all trademarks, trade
      names, corporate names, company names, business names, fictitious business
      names, trade dress, service marks, logos, domain names and other source or
      business identifiers, and all goodwill associated therewith, now existing or
      hereafter adopted or acquired, all registrations and recordings thereof, and
      all
      applications in connection therewith, whether in the United States Patent and
      Trademark Office or in any similar office or agency of the United States, any
      State thereof or any other country or any political subdivision thereof, or
      otherwise, and all common law rights related thereto, (iv) all trade secrets
      arising under the laws of the United States, any other country or any political
      subdivision thereof, (v) all rights to obtain any reissues, renewals or
      extensions of the foregoing, (vi) all licenses for any of the foregoing, and
      (vii) all causes of action for infringement of the foregoing.

    

    (c) “Majority
      in Interest”
shall
      mean, at any time of determination, the majority in interest (based on
      then-outstanding principal amounts of Notes at the time of such determination)
      of the Secured Parties.

    

    (d) “Necessary
      Endorsement”
shall
      mean undated stock powers endorsed in blank or other proper instruments of
      assignment duly executed and such other instruments or documents as the Secured
      Parties may reasonably request.

    

    (e)
       “Obligations”
means
      all of the Debtors’ obligations under this Agreement, the
      Notes, the Guaranty
      and any other instruments, agreements or other documents executed and/or
      delivered in connection herewith or therewith, in each case, whether now or
      hereafter existing, voluntary or involuntary, direct or indirect, absolute
      or
      contingent, liquidated or unliquidated, whether or not jointly owed with others,
      and whether or not from time to time decreased or extinguished and later
      increased, created or incurred, and all or any portion of such obligations
      or
      liabilities that are paid, to the extent all or any part of such payment is
      avoided or recovered directly or indirectly from any of the Secured Parties
      as a
      preference, fraudulent transfer or otherwise as such obligations may be amended,
      supplemented, converted, extended or modified from time to time. Without
      limiting the generality of the foregoing, the term “Obligations” shall include,
      without limitation: (i) principal of, and interest on the Notes
      and
      the
      loans extended pursuant thereto; (ii) any and all other fees, indemnities,
      costs, obligations and liabilities of the Debtors from time to time under or
      in
      connection with this Agreement, the Notes, the Guaranty and any other
      instruments, agreements or other documents executed and/or delivered in
      connection herewith or therewith; and (iii) all amounts (including but not
      limited to post-petition interest) in respect of the foregoing that would be
      payable but for the fact that the obligations to pay such amounts are
      unenforceable or not allowable due to the existence of a bankruptcy,
      reorganization or similar proceeding involving any Debtor.

     

    
      
        
        

      

      
        3
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          33

        
          

        

      

      
        
        

      

    

     

    (f)
       “Organizational
      Documents”
means
      with respect to any Debtor, the documents by which such Debtor was organized
      (such as a certificate of incorporation, certificate of limited partnership
      or
      articles of organization, and including, without limitation, any certificates
      of
      designation for preferred stock or other forms of preferred equity) and which
      relate to the internal governance of such Debtor (such as bylaws, a partnership
      agreement or an operating, limited liability or members agreement).

    

    (g)
       “UCC”
means
      the Uniform Commercial Code of the State of New York and or any other applicable
      law of any state or states which has jurisdiction with respect to all, or any
      portion of, the Collateral or this Agreement, from time to time. It is the
      intent of the parties that defined terms in the UCC should be construed in
      their
      broadest sense so that the term “Collateral” will be construed in its broadest
      sense. Accordingly if there are, from time to time, changes to defined terms
      in
      the UCC that broaden the definitions, they are incorporated herein and if
      existing definitions in the UCC are broader than the amended definitions, the
      existing ones shall be controlling. 

    

    2.
       Grant
      of Perfected Security Interest.
      As an
      inducement for the Secured Parties to extend the loans as evidenced by the
      Notes
      and to secure the complete and timely payment, performance and discharge in
      full, as the case may be, of all of the Obligations, each Debtor hereby
      unconditionally and irrevocably pledges, grants and hypothecates to the Secured
      Parties a continuing and perfected security interest in and to, a lien upon
      and
      a right of set-off against all of their respective right, title and interest
      of
      whatsoever kind and nature in and to, the Collateral (the “Security
      Interest”).

    

    3. Delivery
      of Certain Collateral.
      Contemporaneously or prior to the execution of this Agreement, each Debtor
      shall
      deliver or cause to be delivered to the Secured Parties (a) any and all
      certificates and other instruments representing or evidencing the Pledged
      Securities, and (b) any and all certificates and other instruments or documents
      representing any of the other Collateral, in each case, together with all
      Necessary Endorsements. The Debtors are, contemporaneously with the execution
      hereof, delivering to the Secured Parties, or have previously delivered to
      the
      Secured Parties, a true and correct copy of each Organizational Document
      governing any of the Pledged Securities.

    

    4.  Representations,
      Warranties, Covenants and Agreements of the Debtors.
      Each
      Debtor represents and warrants to, and covenants and agrees with, the Secured
      Parties as follows:

    

    (a)
      Each
      Debtor has the requisite corporate, partnership, limited liability company
      or
      other power and authority to enter into this Agreement and otherwise to carry
      out its obligations hereunder. The execution, delivery and performance by each
      Debtor of this Agreement and the filings contemplated therein have been duly
      authorized by all necessary action on the part of such Debtor and no further
      action is required by such Debtor. This Agreement has been duly executed by
      each
      Debtor. This Agreement constitutes the legal, valid and binding obligation
      of
      each Debtor, enforceable against each Debtor in accordance with its terms except
      as such enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization and similar laws of general application relating to or affecting
      the rights and remedies of creditors and by general principles of
      equity.

     

    
      
        
        

      

      
        4
          of
          33

        
          

        

      

      
        
        

      

    

     

    (b)
       The
      Debtors have no place of business or offices where their respective books of
      account and records are kept (other than temporarily at the offices of its
      attorneys or accountants) or places where Collateral is stored or located,
      except as set forth on Schedule
      A
      attached
      hereto. Except as specifically set forth on Schedule
      A,
      each
      Debtor is the record owner of the real property where such Collateral is
      located, and there exist no mortgages or other liens on any such real property.
      Except as disclosed on Schedule
      A,
      none of
      such Collateral is in the possession of any consignee, bailee, warehouseman,
      agent or processor.

    

    (c)
       Except
      as
      set forth on Schedule
      B
      attached
      hereto, the Debtors are the sole owner of the Collateral (except for
      non-exclusive licenses granted by any Debtor in the ordinary course of
      business), free and clear of any liens, security interests, encumbrances, rights
      or claims, and are fully authorized to grant the Security Interest. There is
      not
      on file in any governmental or regulatory authority, agency or recording office
      an effective financing statement, security agreement, license or transfer or
      any
      notice of any of the foregoing (other than those that will be filed in favor
      of
      the Secured Parties pursuant to this Agreement) covering or affecting any of
      the
      Collateral. So long as this Agreement shall be in effect, the Debtors shall
      not
      execute and shall not knowingly permit to be on file in any such office or
      agency any such financing statement or other document or instrument (except
      to
      the extent filed or recorded in favor of the Secured Parties pursuant to the
      terms of this Agreement).

    

    (d)
       No
      written claim has been received that any Collateral or Debtor's use of any
      Collateral violates the rights of any third party. There has been no adverse
      decision to any Debtor's claim of ownership rights in or exclusive rights to
      use
      the Collateral in any jurisdiction or to any Debtor's right to keep and maintain
      such Collateral in full force and effect, and there is no proceeding involving
      said rights pending or, to the best knowledge of any Debtor, threatened before
      any court, judicial body, administrative or regulatory agency, arbitrator or
      other governmental authority.

    

    (e)
       Each
      Debtor shall at all times maintain its books of account and records relating
      to
      the Collateral at its principal place of business and its Collateral at the
      locations set forth on Schedule
      A
      attached
      hereto and may not relocate such books of account and records or tangible
      Collateral (other than the Company’s demonstration trailer) unless it delivers
      to the Secured Parties at least 30 days prior to such relocation (i) written
      notice of such relocation and the new location thereof (which must be within
      the
      United States) and (ii) evidence that appropriate financing statements under
      the
      UCC and other necessary documents have been filed and recorded and other steps
      have been taken to perfect the Security Interest to create in favor of the
      Secured Parties a valid, perfected and continuing perfected first priority
      lien
      in the Collateral.

    

    (f)
       This
      Agreement creates in favor of the Secured Parties a valid, security interest
      in
      the Collateral, securing the payment and performance of the Obligations. Upon
      making the filings described in the immediately following paragraph, all
      security interests created hereunder in any Collateral which may be perfected
      by
      filing Uniform Commercial Code financing statements shall have been duly
      perfected. Except for the filing of the Uniform Commercial Code financing
      statements referred to in the immediately following paragraph, the recordation
      of the Intellectual Property Security Agreement (as defined below) with respect
      to copyrights and copyright applications in the United States Copyright Office
      referred to in paragraph (p), the
      execution and delivery of deposit account control agreements satisfying the
      requirements of Section 9-104(a)(2) of the UCC with respect to each deposit
      account of the Debtors,
      and the
      delivery of the certificates and other instruments provided in Section
      3,
      no
      action is necessary to create, perfect or protect the security interests created
      hereunder. Without limiting the generality of the foregoing, except for the
      filing of said financing statements, the recordation of said Intellectual
      Property Security Agreement, and the execution and delivery of said deposit
      account control agreements, no consent of any third parties and no
      authorization, approval or other action by, and no notice to or filing with,
      any
      governmental authority or regulatory body is required for (i) the execution,
      delivery and performance of this Agreement, (ii) the creation or perfection
      of
      the Security Interests created hereunder in the Collateral or (iii) the
      enforcement of the rights of the Secured Parties hereunder.

     

    
      
        
        

      

      
        5
          of
          33

        
          

        

      

      
        
        

      

    

     

    (g)
       Each
      Debtor hereby authorizes the Secured Parties, or any of them, to file one or
      more financing statements under the UCC, with respect to the Security Interest
      with the proper filing and recording agencies in any jurisdiction deemed proper
      by them.

    

     (h)
       The
      execution, delivery and performance of this Agreement by the Debtors does not
      (i) violate any of the provisions of any Organizational Documents of any Debtor
      or any judgment, decree, order or award of any court, governmental body or
      arbitrator or any applicable law, rule or regulation applicable to any Debtor
      or
      (ii) conflict with, or constitute a default (or an event that with notice or
      lapse of time or both would become a default) under, or give to others any
      rights of termination, amendment, acceleration or cancellation (with or without
      notice, lapse of time or both) of, any agreement, credit facility, debt or
      other
      instrument (evidencing any Debtor's debt or otherwise) or other understanding
      to
      which any Debtor is a party or by which any property or asset of any Debtor
      is
      bound or affected. No consent (including, without limitation, from stockholders
      or creditors of any Debtor) is required for any Debtor to enter into and perform
      its obligations hereunder.

    

     (i)
       The
      capital stock and other equity interests listed on Schedule
      H
      hereto
      represent all of the capital stock and other equity interests of the Guarantors
      ( other than UBPS), and represent all capital stock and other equity interests
      owned, directly or indirectly, by UBPS and the Company. All of the Pledged
      Securities are validly issued, fully paid and nonassessable, and the Company
      is
      the legal and beneficial owner of the Pledged Securities, free and clear of
      any
      lien, security interest or other encumbrance except for the security interests
      created by this Agreement. 

    

    (j)
       The
      ownership and other equity interests in partnerships and limited liability
      companies (if any)
      included
      in the Collateral
      (the
“Pledged
      Interests”)
      by
      their express terms do not provide that they are securities governed by Article
      8 of the UCC and are not held in a securities account or by any financial
      intermediary.

    

    (k)
       Each
      Debtor shall at all times maintain the liens and Security Interest provided
      for
      hereunder as valid and perfected first priority liens and security interests
      in
      the Collateral in favor of the Secured Parties until this Agreement and the
      Security Interest hereunder shall be terminated pursuant to Section 11 hereof.
      Each Debtor hereby agrees to defend the same against the claims of any and
      all
      persons and entities. Each Debtor shall safeguard and protect all Collateral
      for
      the account of the Secured Parties. At the request of the Secured Parties,
      each
      Debtor will sign and deliver to the Secured Parties at any time or from time
      to
      time one or more financing statements pursuant to the UCC in form reasonably
      satisfactory to the Secured Parties and will pay the cost of filing the same
      in
      all public offices wherever filing is, or is deemed by the Secured Parties
      to
      be, necessary or desirable to effect the rights and obligations provided for
      herein. Without limiting the generality of the foregoing, each Debtor shall
      pay
      all fees, taxes and other amounts necessary to maintain the Collateral and
      the
      Security Interest hereunder, and each Debtor shall obtain and furnish to the
      Secured Parties from time to time, upon demand, such releases and/or
      subordinations of claims and liens which may be required to maintain the
      priority of the Security Interest hereunder.

     

    
      
        
        

      

      
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    (l)
       No
      Debtor
      will transfer, pledge, hypothecate, encumber, license, sell or otherwise dispose
      of any of the Collateral without the prior written consent of a Majority
      in Interest.

    

    (m) Each
      Debtor shall keep and preserve its equipment, inventory and other tangible
      Collateral in good condition, repair and order and shall not operate or locate
      any such Collateral (or cause to be operated or located) in any area excluded
      from insurance coverage.

    

    (n) Each
      Debtor shall maintain with financially sound and reputable insurers, insurance
      with respect to the Collateral against loss or damage of the kinds and in the
      amounts customarily insured against by entities of established reputation having
      similar properties similarly situated and in such amounts as are customarily
      carried under similar circumstances by other such entities and otherwise as
      is
      prudent for entities engaged in similar businesses but in any event sufficient
      to cover the full replacement cost thereof. Each Debtor shall cause each
      insurance policy issued in connection herewith to provide, and the insurer
      issuing such policy to certify to the Secured Parties that (a) the Secured
      Parties will be named as lender loss payee and additional insured under each
      such insurance policy; (b) if such insurance be proposed to be cancelled or
      materially changed for any reason whatsoever, such insurer will promptly notify
      the Secured Parties and such cancellation or change shall not be effective
      as to
      the Secured Parties for at least thirty (30) days after receipt by the Secured
      Parties of such notice, unless the effect of such change is to extend or
      increase coverage under the policy; and (c) the Secured Parties will have the
      right (but no obligation) at its election to remedy any default in the payment
      of premiums within thirty (30) days of notice from the insurer of such default.
      If no Event of Default (as defined in the Note) exists and if the proceeds
      arising out of any claim or series of related claims do not exceed $50,000,
      loss
      payments in each instance will be applied by the applicable Debtor to the repair
      and/or replacement of property with respect to which the loss was incurred
      to
      the extent reasonably feasible, and any loss payments or the balance thereof
      remaining, to the extent not so applied, shall be payable to the applicable
      Debtor, provided, however, that payments received by any Debtor after an Event
      of Default occurs and is continuing or in excess of $50,000 for any occurrence
      or series of related occurrences shall be paid to the Secured Parties and,
      if
      received by such Debtor, shall be held in trust for and immediately paid over
      to
      the Secured Parties unless otherwise directed in writing by the Secured Parties.
      Copies of such policies or the related certificates, in each case, naming the
      Secured Parties as lender loss payee and additional insured shall be delivered
      to the Secured Parties at least annually and at the time any new policy of
      insurance is issued.

    

    (o)
       Each
      Debtor shall, within ten (10) days of obtaining knowledge thereof, advise the
      Secured Parties promptly, in sufficient detail, of any substantial change in
      the
      Collateral, and of the occurrence of any event which would have a material
      adverse effect on the value of the Collateral or on the Secured Parties’
security interest therein.

    

    
      
        
        

      

      
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      (p)
         Each
        Debtor shall promptly execute and deliver to the Secured Parties such further
        deeds, mortgages, assignments, security agreements, financing statements
        or
        other instruments, documents, certificates and assurances and take such further
        action as the Secured Parties may from time to time request and may in its
        sole
        discretion deem necessary to perfect, protect or enforce its security interest
        in the Collateral including, without limitation, if applicable, the execution
        and delivery of a separate security agreement with respect to each Debtor’s
        Intellectual Property (“Intellectual
        Property Security Agreement”)
        in
        which the Secured Parties have been granted a security interest hereunder,
        substantially in a form acceptable to the Secured Parties, which Intellectual
        Property Security Agreement, other than as stated therein, shall be subject
        to
        all of the terms and conditions hereof.

      

      (q)
         Each
        Debtor shall permit the Secured Parties and their representatives and agents
        to
        inspect the Collateral at any time, and to make copies of records pertaining
        to
        the Collateral as may be requested by a Secured Party from time to
        time.

      

      (r)
         Each
        Debtor shall take all steps reasonably necessary to diligently pursue and
        seek
        to preserve, enforce and collect any rights, claims, causes of action and
        accounts receivable in respect of the Collateral.

      

      (s)
         Each
        Debtor shall promptly notify the Secured Parties in sufficient detail upon
        becoming aware of any attachment, garnishment, execution or other legal process
        levied against any Collateral and of any other information received by such
        Debtor that may materially affect the value of the Collateral, the Security
        Interest or the rights and remedies of the Secured Parties
        hereunder.

      

      (t)
         All
        information heretofore, herein or hereafter supplied to the Secured Parties
        by
        or on behalf of any Debtor with respect to the Collateral is accurate and
        complete in all material respects as of the date furnished.

      

      (u)
         The
        Debtors shall at all times preserve and keep in full force and effect their
        respective valid existence and good standing and any rights and franchises
        material to its business.

      

      (v)
         No
        Debtor
        will change its name, type of organization, jurisdiction of organization,
        organizational identification number (if it has one), legal or corporate
        structure, or identity, or add any new fictitious name unless it provides
        at
        least 30 days prior written notice to the Secured Parties of such change
        and, at
        the time of such written notification, such Debtor provides any financing
        statements or fixture filings necessary to perfect and continue perfected
        the
        perfected security Interest granted and evidenced by this
        Agreement.

      

      (w) No
        Debtor
        may consign any of its Inventory or sell any of its Inventory on bill and
        hold,
        sale or return, sale on approval, or other conditional terms of sale without
        the
        consent of a Majority
        in Interest
        which
        shall not be unreasonably withheld, except to the extent such consignment
        or
        sale does not exceed 15% of the total value of all of the Company’s finished
        goods in Inventory.

      

      (x)
         No
        Debtor
        may relocate its chief executive office to a new location without providing
        30
        days prior written notification thereof to the Secured Parties and so long
        as,
        at the time of such written notification, such Debtor provides any financing
        statements or fixture filings necessary to perfect and continue perfected
        the
        perfected security Interest granted and evidenced by this
        Agreement.

       

      
        
          
          

        

        
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      (y) Each
        Debtor was organized and remains organized solely under the laws of the state
        set forth next to such Debtor’s name in the first paragraph of this Agreement.
Schedule
        D
        attached
        hereto sets forth each Debtor’s organizational identification number or, if any
        Debtor does not have one, states that one does not exist.

      

      (z) 
        (i) The
        actual name of each Debtor is the name set forth in the preamble above; (ii)
        no
        Debtor has any trade names except as set forth on Schedule
        E
        attached
        hereto; (iii) no Debtor has used any name other than that stated in the preamble
        hereto or as set forth on Schedule
        E
        for the
        preceding five years; and (iv) no entity has merged into any Debtor or been
        acquired by any Debtor within the past five years except as set forth on
        Schedule
        E.

      

      (aa) At
        any
        time and from time to time that any Collateral consists of instruments,
        certificated securities or other items that require or permit possession
        by the
        secured party to perfect the security interest created hereby, the applicable
        Debtor shall deliver such Collateral to the
        Secured Parties.

      

      (bb)
         Each
        Debtor, in its capacity as issuer, hereby agrees to comply with any and all
        orders and instructions of the Secured Parties regarding the Pledged Interests
        consistent with the terms of this Agreement without the further consent of
        any
        Debtor as contemplated by Section 8-106 (or any successor section) of the
        UCC.
        Further, each Debtor agrees that it shall not enter into a similar agreement
        (or
        one that would confer “control” within the meaning of Article 8 of the UCC) with
        any other person or entity.

       

      (cc) Each
        Debtor shall cause all tangible chattel paper constituting Collateral to
        be
        delivered to the
        Secured Parties,
        or, if
        such delivery is not possible, then to cause such tangible chattel paper
        to
        contain a legend noting that it is subject to the security interest created
        by
        this Agreement. To the extent that any Collateral consists of electronic
        chattel
        paper, the applicable Debtor shall cause the underlying chattel paper to
        be
“marked” within the meaning of Section 9-105 of the UCC (or successor section
        thereto).

      

      (dd) If
        there
        is any investment property or deposit account included as Collateral that
        can be
        perfected by “control” through an account control agreement, the applicable
        Debtor shall cause such an account control agreement, in form and substance
        in
        each case satisfactory to the Secured Parties, to be entered into and delivered
        to the Secured Parties.

      

      (ee)
         To
        the
        extent that any Collateral consists of letter-of-credit rights, the applicable
        Debtor shall cause the issuer of each underlying letter of credit to consent
        to
        an assignment of the proceeds thereof to the Secured Parties.

      

      (ff)
         To
        the
        extent that any Collateral is in the possession of any third party, the
        applicable Debtor shall join with the Secured Parties in notifying such third
        party of the Secured Parties’ security interest in such Collateral and shall use
        its best efforts to obtain an acknowledgement and agreement from such third
        party with respect to the Collateral, in form and substance satisfactory
        to the
        Secured Parties.

      

      (gg) If
        any
        Debtor shall at any time hold or acquire a commercial tort claim, such Debtor
        shall promptly notify the Secured Parties in a writing signed by such Debtor
        of
        the particulars thereof and grant to the Secured Parties in such writing
        a
        security interest therein and in the proceeds thereof, all upon the terms
        of
        this Agreement, with such writing to be in form and substance satisfactory
        to
        the Secured Parties.

       

      
        
          
          

        

        
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      (hh)  Each
        Debtor shall immediately provide written notice to the Secured Parties of
        any
        and all accounts which arise out of contracts with any governmental authority
        and, to the extent necessary to perfect or continue the perfected status
        of the
        Security Interest in such accounts and proceeds thereof, shall execute and
        deliver to the Secured Parties an assignment of claims for such accounts
        and
        cooperate with the Secured Parties in taking any other steps required, in
        their
        judgment, under the Federal Assignment of Claims Act or any similar federal,
        state or local statute or rule to perfect or continue the perfected status
        of
        the Security Interest in such accounts and proceeds thereof.

      

      (ii) Each
        Debtor shall cause each subsidiary
        of such
        Debtor to immediately become a party hereto (an “Additional
        Debtor”),
        by
        executing and delivering an Additional Debtor Joinder in substantially the
        form
        of Annex A attached hereto and comply with the provisions hereof applicable
        to
        the Debtors. Concurrent therewith, the Additional Debtor shall deliver
        replacement schedules for, or supplements to all other Schedules to (or referred
        to in) this Agreement, as applicable, which replacement schedules shall
        supersede, or supplements shall modify, the Schedules then in effect. The
        Additional Debtor shall also deliver such opinions of counsel, authorizing
        resolutions, good standing certificates, incumbency certificates, organizational
        documents, financing statements and other information and documentation as
        the
        Secured Parties may reasonably request. Upon delivery of the foregoing to
        the
        Secured Parties, the Additional Debtor shall be and become a party to this
        Agreement with the same rights and obligations as the Debtors, for all purposes
        hereof as fully and to the same extent as if it were an original signatory
        hereto and shall be deemed to have made the representations, warranties and
        covenants set forth herein as of the date of execution and delivery of such
        Additional Debtor Joinder, and all references herein to the “Debtors” shall be
        deemed to include each Additional Debtor.

      

      (jj)
         Each
        Debtor shall vote the Pledged Securities to comply with the covenants and
        agreements set forth herein and in the Notes.

      

      (kk) Each
        Debtor shall register the pledge of the applicable Pledged Securities on
        the
        books of such Debtor. Each Debtor shall notify each issuer of Pledged Securities
        to register the pledge of the applicable Pledged Securities in the name of
        the
        Secured Parties on the books of such issuer. Further, except with respect
        to
        certificated securities delivered to the Secured Parties, the applicable
        Debtor
        shall deliver to the Secured Parties an acknowledgement of pledge (which,
        where
        appropriate, shall comply with the requirements of the relevant UCC with
        respect
        to perfection by registration) signed by the issuer of the applicable Pledged
        Securities, which acknowledgement shall confirm that: (a) it has registered
        the
        pledge on its books and records; and (b) at any time directed by the Secured
        Parties during the continuation of an Event of Default, such issuer will
        transfer the record ownership of such Pledged Securities into the name of
        any
        designee of the Secured Parties, will take such steps as may be necessary
        to
        effect the transfer, and will comply with all other instructions of the Secured
        Parties regarding such Pledged Securities without the further consent of
        the
        applicable Debtor.

       

      
        
          
          

        

        
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      (ll)
        In
        the
        event that, upon an occurrence of an Event of Default, the Secured Parties
        shall
        sell all or any of the Pledged Securities to another party or parties (herein
        called the “Transferee”)
        or
        shall purchase or retain all or any of the Pledged Securities, each Debtor
        shall, to the extent applicable: (i) deliver to the Secured Parties or the
        Transferee, as the case may be, the articles of incorporation, bylaws, minute
        books, stock certificate books, corporate seals, deeds, leases, indentures,
        agreements, evidences of indebtedness, books of account, financial records
        and
        all other Organizational Documents and records of the Debtors and their direct
        and indirect subsidiaries; (ii) use its best efforts to obtain resignations
        of
        the persons then serving as officers and directors of the Debtors and their
        direct and indirect subsidiaries, if so requested; and (iii) use its best
        efforts to obtain any approvals that are required by any governmental or
        regulatory body in order to permit the sale of the Pledged Securities to
        the
        Transferee or the purchase or retention of the Pledged Securities by the
        Secured
        Parties and allow the Transferee or the Secured Parties to continue the business
        of the Debtors and their direct and indirect subsidiaries.

       

      (mm) Without
        limiting the generality of the other obligations of the Debtors hereunder,
        each
        Debtor shall promptly (i) cause to be registered at the United States Copyright
        Office all of its material copyrights, (ii) cause the security interest
        contemplated hereby with respect to all Intellectual Property registered
        at the
        United States Copyright Office or United States Patent and Trademark Office
        to
        be duly recorded at the applicable office, and (iii) give the
        Secured Parties
        notice
        whenever it acquires (whether absolutely or by license) or creates any
        additional material Intellectual Property.

      

      (nn) Each
        Debtor will from time to time, at the joint and several expense of the Debtors,
        promptly execute and deliver all such further instruments and documents,
        and
        take all such further action as may be necessary or desirable, or as the
        Secured
        Parties may reasonably request, in order to perfect and protect any security
        interest granted or purported to be granted hereby or to enable the Secured
        Parties to exercise and enforce their rights and remedies hereunder and with
        respect to any Collateral or to otherwise carry out the purposes of this
        Agreement.

      

      (oo) Schedule
        F
        attached
        hereto lists all of the patents, patent applications, trademarks, trademark
        applications, registered copyrights, and domain names owned by any of the
        Debtors as of the date hereof. Schedule
        F
        lists
        all material licenses in favor of any Debtor for the use of any patents,
        trademarks, copyrights and domain names as of the date hereof. All material
        patents and trademarks of the Debtors have been duly recorded at the United
        States Patent and Trademark Office and all material copyrights of the Debtors
        have been duly recorded at the United States Copyright Office.

      

      (pp) Except
        as
        set forth on Schedule
        G
        attached
        hereto, none of the account debtors or other persons or entities obligated
        on
        any of the Collateral is a governmental authority covered by the Federal
        Assignment of Claims Act or any similar federal, state or local statute or
        rule
        in respect of such Collateral.

      

      5. Effect
        of Pledge on Certain Rights. If
        any of
        the Collateral subject to this Agreement consists of nonvoting equity or
        ownership interests (regardless of class, designation, preference or rights)
        that may be converted into voting equity or ownership interests upon the
        occurrence of certain events (including, without limitation, upon the transfer
        of all or any of the other stock or assets of the issuer), it is agreed that
        the
        pledge of such equity or ownership interests pursuant to this Agreement or
        the
        enforcement of any of the Secured Parties’ rights hereunder shall not be deemed
        to be the type of event which would trigger such conversion rights
        notwithstanding any provisions in the Organizational Documents or agreements
        to
        which any Debtor is subject or to which any Debtor is party.

       

      
        
          
          

        

        
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      6.
         Defaults.
        The
        following events shall be “Events
        of Default”:

      

      (a)
        The
        occurrence of an Event of Default (as defined in the Notes) under the
        Notes;

      

      (b)
        Any
        representation or warranty of any Debtor in this Agreement shall prove to
        have
        been incorrect in any material respect when made;

      

      (c)
        The
        failure by any Debtor to observe or perform any of its obligations hereunder
        for
        five (5) days after delivery to such Debtor of notice of such failure by
        or on
        behalf of a Secured Party unless such default is capable of cure but cannot
        be
        cured within such time frame and such Debtor is using best efforts to cure
        same
        in a timely fashion; or

      

      (d)
        If
        any provision of this Agreement shall at any time for any reason be declared
        to
        be null and void, or the validity or enforceability thereof shall be contested
        by any Debtor, or a proceeding shall be commenced by any Debtor, or by any
        governmental authority having jurisdiction over any Debtor, seeking to establish
        the invalidity or unenforceability thereof, or any Debtor shall deny that
        any
        Debtor has any liability or obligation purported to be created under this
        Agreement.

      

      7.  Duty
        To Hold In Trust.
        

      

      (a) Upon
        the
        occurrence of any Event of Default and at any time thereafter, each Debtor
        shall, upon receipt of any revenue, income,
        dividend, interest
        or other
        sums subject to the Security Interest, whether payable pursuant to the Notes
        or
        otherwise, or of any check, draft, note, trade acceptance or other instrument
        evidencing an obligation to pay any such sum, hold the same in trust for
        the
        Secured Parties and shall forthwith endorse and transfer any such sums or
        instruments, or both, to the Secured Parties, pro-rata in proportion to their
        initial purchases of Notes for application to the satisfaction of the
        Obligations (and if any Note is not outstanding, pro-rata in proportion to
        the
        initial purchases of the remaining Notes). 

      

      (b) If
        any
        Debtor shall become entitled to receive or shall receive any securities or
        other
        property (including, without limitation, shares of Pledged Securities or
        instruments representing Pledged Securities acquired after the date hereof,
        or
        any options, warrants, rights or other similar property or certificates
        representing a dividend, or any distribution in connection with any
        recapitalization, reclassification or increase or reduction of capital, or
        issued in connection with any reorganization of such Debtor or any of its
        direct
        or indirect subsidiaries) in respect of the Pledged Securities (whether as
        an
        addition to, in substitution of, or in exchange for, such Pledged Securities
        or
        otherwise), such Debtor agrees to (i) accept the same as the agent of the
        Secured Parties; (ii) hold the same in trust on behalf of and for the benefit
        of
        the Secured Parties; and (iii) to deliver any and all certificates or
        instruments evidencing the same to the Secured Parties on or before the close
        of
        business on the fifth business day following the receipt thereof by such
        Debtor,
        in the exact form received together with the Necessary Endorsements, to be
        held
        by the Secured Parties subject to the terms of this Agreement as
        Collateral.

      

      8.  Rights
        and Remedies Upon Default.
        

      

      (a) Upon
        the
        occurrence of any Event of Default and at any time thereafter, the Secured
        Parties, acting through any agent appointed by them for such purpose, shall
        have
        the right to exercise all of the remedies conferred hereunder and under the
        Notes, and the Secured Parties shall have all the rights and remedies of
        a
        secured party under the UCC. Without limitation, the Secured Parties shall
        have
        the following rights and powers:

      

      
        
          
          

        

        
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      (i)
        The
        Secured Parties shall have the right to take possession of the Collateral
        and,
        for that purpose, enter, with the aid and assistance of any person, any premises
        where the Collateral, or any part thereof, is or may be placed and remove
        the
        same, and each Debtor shall assemble the Collateral and make it available
        to the
        Secured Parties at places which the Secured Parties shall reasonably select,
        whether at such Debtor's premises or elsewhere, and make available to the
        Secured Parties, without rent, all of such Debtor’s respective premises and
        facilities for the purpose of the Secured Parties taking possession of, removing
        or putting the Collateral in saleable or disposable form.

      

      (ii) Upon
        notice to the Debtors by the Secured Parties, all rights of each Debtor to
        exercise the voting and other consensual rights which it would otherwise
        be
        entitled to exercise and all rights of each Debtor to receive the dividends
        and
        interest which it would otherwise be authorized to receive and retain, shall
        cease. Upon such notice, the Secured Parties shall have the right to receive
        any
        interest, cash dividends or other payments on the Collateral and, at the
        option
        oft, to exercise in such the Secured Parties’ discretion all voting rights
        pertaining thereto. Without limiting the generality of the foregoing, the
        Secured Parties shall have the right (but not the obligation) to exercise
        all
        rights with respect to the Collateral as it were the sole and absolute owners
        thereof, including, without limitation, to vote and/or to exchange, at its
        sole
        discretion, any or all of the Collateral in connection with a merger,
        reorganization, consolidation, recapitalization or other readjustment concerning
        or involving the Collateral or any Debtor or any of its direct or indirect
        subsidiaries.

      

      (iii)
        The
        Secured Parties shall have the right to operate the business of each Debtor
        using the Collateral and shall have the right to assign, sell, lease or
        otherwise dispose of and deliver all or any part of the Collateral, at public
        or
        private sale or otherwise, either with or without special conditions or
        stipulations, for cash or on credit or for future delivery, in such parcel
        or
        parcels and at such time or times and at such place or places, and upon such
        terms and conditions as the Secured Parties may deem commercially reasonable,
        all without (except as shall be required by applicable statute and cannot
        be
        waived) advertisement or demand upon or notice to any Debtor or right of
        redemption of a Debtor, which are hereby expressly waived. Upon each such
        sale,
        lease, assignment or other transfer of Collateral, the Secured Parties may,
        unless prohibited by applicable law which cannot be waived, purchase all
        or any
        part of the Collateral being sold, free from and discharged of all trusts,
        claims, right of redemption and equities of any Debtor, which are hereby
        waived
        and released.

      

      (iv) The
        Secured Parties shall have the right (but not the obligation) to notify any
        account debtors and any obligors under instruments or accounts to make payments
        directly to the Secured Parties and to enforce the Debtors’ rights against such
        account debtors and obligors.

      

      (v) The
        Secured Parties may (but are not obligated to) direct any financial intermediary
        or any other person or entity holding any investment property to transfer
        the
        same to the Secured Parties or their designee.

      

      (vi) The
        Secured Parties may (but are not obligated to) transfer any or all Intellectual
        Property registered in the name of any Debtor at the United States Patent
        and
        Trademark Office and/or Copyright Office into the name of the Secured Parties
        or
        any designee or any purchaser of any Collateral.

       

      
        
          
          

        

        
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      (b) The
        Secured Parties may comply with any applicable law in connection with a
        disposition of Collateral and such compliance will not be considered adversely
        to affect the commercial reasonableness of any sale of the Collateral. The
        Secured Parties may sell the Collateral without giving any warranties and
        may
        specifically disclaim such warranties. If the Secured Parties sells any of
        the
        Collateral on credit, the Debtors will only be credited with payments actually
        made by the purchaser. In addition, each Debtor waives any and all rights
        that
        it may have to a judicial hearing in advance of the enforcement of any of
        the
        Secured Parties’ rights and remedies hereunder, including, without limitation,
        its right following an Event of Default to take immediate possession of the
        Collateral and to exercise its rights and remedies with respect
        thereto.

       

      (c) For
        the
        purpose of enabling the Secured Parties to further exercise rights and remedies
        under this Section 8 or elsewhere provided by agreement or applicable law,
        each
        Debtor hereby grants to the Secured Parties an irrevocable, nonexclusive
        license
        (exercisable without payment of royalty or other compensation to such Debtor)
        to
        use, license or sublicense following an Event of Default, any Intellectual
        Property now owned or hereafter acquired by such Debtor, and wherever the
        same
        may be located, and including in such license access to all media in which
        any
        of the licensed items may be recorded or stored and to all computer software
        and
        programs used for the compilation or printout thereof.

      

      9.  Applications
        of Proceeds.
        The
        proceeds of any such sale, lease or other disposition of the Collateral
        hereunder shall be applied first, to the expenses of retaking, holding, storing,
        processing and preparing for sale, selling, and the like (including, without
        limitation, any taxes, fees and other costs incurred in connection therewith)
        of
        the Collateral, to the reasonable attorneys’ fees and expenses incurred by the
        Secured Parties in enforcing their rights hereunder and in connection with
        collecting, storing and disposing of the Collateral, and then to satisfaction
        of
        the Obligations pro rata among the Secured Parties (based on then-outstanding
        principal amounts of Notes at the time of any such determination), and to
        the
        payment of any other amounts required by applicable law, after which the
        Secured
        Parties shall pay to the applicable Debtor any surplus proceeds. If, upon
        the
        sale, license or other disposition of the Collateral, the proceeds thereof
        are
        insufficient to pay all amounts to which the Secured Parties are legally
        entitled, the Debtors will be liable for the deficiency, together with interest
        thereon, at the rate of 18% per annum or the lesser amount permitted by
        applicable law (the “Default Rate”), and the reasonable fees of any attorneys
        employed by the Secured Parties to collect such deficiency. To the extent
        permitted by applicable law, each Debtor waives all claims, damages and demands
        against the Secured Parties arising out of the repossession, removal, retention
        or sale of the Collateral, unless due solely to the gross negligence or willful
        misconduct of the Secured Parties as determined by a final judgment (not
        subject
        to further appeal) of a court of competent jurisdiction.

      

      10. Securities
        Law Provision.
        Each
        Debtor recognizes that the Secured Parties may be limited in its ability
        to
        effect a sale to the public of all or part of the Pledged Securities by reason
        of certain prohibitions in the Securities Act of 1933, as amended, or other
        federal or state securities laws (collectively, the “Securities
        Laws”),
        and
        may be compelled to resort to one or more sales to a restricted group of
        purchasers who may be required to agree to acquire the Pledged Securities
        for
        their own account, for investment and not with a view to the distribution
        or
        resale thereof. Each Debtor agrees that sales so made may be at prices and
        on
        terms less favorable than if the Pledged Securities were sold to the public,
        and
        that the Secured Parties has no obligation to delay the sale of any Pledged
        Securities for the period of time necessary to register the Pledged Securities
        for sale to the public under the Securities Laws. Each Debtor shall cooperate
        with the Secured Parties in its attempt to satisfy any requirements under
        the
        Securities Laws (including, without limitation, registration thereunder if
        requested by the Secured Parties) applicable to the sale of the Pledged
        Securities by the Secured Parties.

       

      
        
          
          

        

        
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      11.  Costs
        and Expenses.
        Each
        Debtor agrees to pay all reasonable out-of-pocket fees, costs and expenses
        incurred in connection with any filing required hereunder, including without
        limitation, any financing statements pursuant to the UCC, continuation
        statements, partial releases and/or termination statements related thereto
        or
        any expenses of any searches reasonably required by the Secured Parties.
        The
        Debtors shall also pay all other claims and charges which in the reasonable
        opinion of the Secured Parties might prejudice, imperil or otherwise affect
        the
        Collateral or the Security Interest therein. The Debtors will also, upon
        demand,
        pay to the Secured Parties the amount of any and all reasonable expenses,
        including the reasonable fees and expenses of its counsel and of any experts
        and
        agents, which the Secured Parties may incur in connection with (i) the
        enforcement of this Agreement, (ii) the custody or preservation of, or the
        sale
        of, collection from, or other realization upon, any of the Collateral, or
        (iii)
        the exercise or enforcement of any of the rights of the Secured Parties under
        the Notes. Until so paid, any fees payable hereunder shall be added to the
        principal amount of the Notes and shall bear interest at the Default
        Rate.

      

      12.  Responsibility
        for Collateral.
        The
        Debtors assume all liabilities and responsibility in connection with all
        Collateral, and the Obligations shall in no way be affected or diminished
        by
        reason of the loss, destruction, damage or theft of any of the Collateral
        or its
        unavailability for any reason. Without limiting the generality of the foregoing,
        (a) no Secured Party (i) has any duty (either before or after an Event of
        Default) to collect any amounts in respect of the Collateral or to preserve
        any
        rights relating to the Collateral, or (ii) has any obligation to clean-up
        or
        otherwise prepare the Collateral for sale, and (b) each Debtor shall remain
        obligated and liable under each contract or agreement included in the Collateral
        to be observed or performed by such Debtor thereunder. No Secured Party shall
        have any obligation or liability under any such contract or agreement by
        reason
        of or arising out of this Agreement or the receipt by any Secured Party of
        any
        payment relating to any of the Collateral, nor shall the any Secured Party
        be
        obligated in any manner to perform any of the obligations of any Debtor under
        or
        pursuant to any such contract or agreement, to make inquiry as to the nature
        or
        sufficiency of any payment received by any Secured Party in respect of the
        Collateral or as to the sufficiency of any performance by any party under
        any
        such contract or agreement, to present or file any claim, to take any action
        to
        enforce any performance or to collect the payment of any amounts which may
        have
        been assigned to any Secured Party may be entitled at any time or
        times.

      

      13.  Security
        Interest Absolute.
        All
        rights of the Secured Parties and all obligations of the Debtors hereunder,
        shall be absolute and unconditional, irrespective of: (a) any lack of validity
        or enforceability of this Agreement, the Notes or any agreement entered into
        in
        connection with the foregoing, or any portion hereof or thereof; (b) any
        change
        in the time, manner or place of payment or performance of, or in any other
        term
        of, all or any of the Obligations, or any other amendment or waiver of or
        any
        consent to any departure from the Notes or any other agreement entered into
        in
        connection with the foregoing; (c) any exchange, release or nonperfection
        of any
        of the Collateral, or any release or amendment or waiver of or consent to
        departure from any other collateral for, or any guaranty, or any other security,
        for all or any of the Obligations; (d) any action by the Secured Parties
        to
        obtain, adjust, settle and cancel in its sole discretion any insurance claims
        or
        matters made or arising in connection with the Collateral; or (e) any other
        circumstance which might otherwise constitute any legal or equitable defense
        available to a Debtor, or a discharge of all or any part of the Security
        Interest granted hereby. Until the Obligations shall have been paid and
        performed in full, the rights of the Secured Parties shall continue even
        if the
        Obligations are barred for any reason, including, without limitation, the
        running of the statute of limitations or bankruptcy. Each Debtor expressly
        waives presentment, protest, notice of protest, demand, notice of nonpayment
        and
        demand for performance. In the event that at any time any transfer of any
        Collateral or any payment received by the Secured Parties hereunder shall
        be
        deemed by final order of a court of competent jurisdiction to have been a
        voidable preference or fraudulent conveyance under the bankruptcy or insolvency
        laws of the United States, or shall be deemed to be otherwise due to any
        party
        other than the Secured Parties, then, in any such event, each Debtor’s
        obligations hereunder shall survive cancellation of this Agreement, and shall
        not be discharged or satisfied by any prior payment thereof and/or cancellation
        of this Agreement, but shall remain a valid and binding obligation enforceable
        in accordance with the terms and provisions hereof. Each Debtor waives all
        right
        to require the Secured Parties to proceed against any other person or
entity
        or
to
        apply
        any Collateral which the Secured Parties may hold at any time, or to marshal
        assets, or to pursue any other remedy. Each Debtor waives any defense arising
        by
        reason of the application of the statute of limitations to any obligation
        secured hereby.

       

      
        
          
          

        

        
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      14. 
        Term
        of Agreement.
        This
        Agreement and the Security Interest shall terminate on the date on which
        all
        payments under the Notes have been indefeasibly paid in full and all other
        Obligations have been paid or discharged; provided, however, that all
        indemnities of the Debtors contained in this Agreement shall survive and
        remain
        operative and in full force and effect regardless of the termination of this
        Agreement.

      

      15. 
        Power
        of Attorney; Further Assurances.

      

      (a) 
        Each
        Debtor authorizes the Secured Parties, and does hereby make, constitute and
        appoint the Secured Parties and their respective officers, agents, successors
        or
        assigns with full power of substitution, as such Debtor’s true and lawful
        attorney-in-fact, with power, in the name of the various Secured Parties
        or such
        Debtor, to, after the occurrence and during the continuance of an Event of
        Default, (i) endorse any note, checks, drafts, money orders or other instruments
        of payment (including payments payable under or in respect of any policy
        of
        insurance) in respect of the Collateral that may come into possession of
        the
        Secured Parties; (ii) to sign and endorse any financing statement pursuant
        to
        the UCC or any invoice, freight or express bill, bill of lading, storage
        or
        warehouse receipts, drafts against debtors, assignments, verifications and
        notices in connection with accounts, and other documents relating to the
        Collateral; (iii) to pay or discharge taxes, liens, security interests or
        other
        encumbrances at any time levied or placed on or threatened against the
        Collateral; (iv) to demand, collect, receipt for, compromise, settle and
        sue for
        monies due in respect of the Collateral; (v) to transfer any Intellectual
        Property or provide licenses respecting any Intellectual Property; and (vi)
        generally, at the option of the Secured Parties, and at the expense of the
        Debtors, at any time, or from time to time, to execute and deliver any and
        all
        documents and instruments and to do all acts and things which the Secured
        Parties deem necessary to protect, preserve and realize upon the Collateral
        and
        the Security Interest granted therein in order to effect the intent of this
        Agreement and the Notes all as fully and effectually as the Debtors might
        or
        could do; and each Debtor hereby ratifies all that said attorney shall lawfully
        do or cause to be done by virtue hereof. This power of attorney is coupled
        with
        an interest and shall be irrevocable for the term of this Agreement and
        thereafter as long as any of the Obligations shall be outstanding. The
        designation set forth herein shall be deemed to amend and supersede any
        inconsistent provision in the Organizational Documents or other documents
        or
        agreements to which any Debtor is subject or to which any Debtor is a party.
        Without
        limiting the generality of the foregoing, after the occurrence and during
        the
        continuance of an Event of Default, each Secured Party is specifically
        authorized to execute and file any applications for or instruments of transfer
        and assignment of any patents, trademarks, copyrights or other Intellectual
        Property with the United States Patent and Trademark Office and the United
        States Copyright Office.

       

      
        
          
          

        

        
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      (b) 
        On
        a
        continuing basis, each Debtor will make, execute, acknowledge, deliver, file
        and
        record, as the case may be, with the proper filing and recording agencies
        in any
        jurisdiction, including, without limitation, the jurisdictions indicated
        on
Schedule
        C
        attached
        hereto, all such instruments, and take all such action as may reasonably
        be
        deemed necessary or advisable, or as reasonably requested by the Secured
        Parties, to perfect the Security Interest granted hereunder and otherwise
        to
        carry out the intent and purposes of this Agreement, or for assuring and
        confirming to the Secured Parties the grant or perfection of a perfected
        security interest in all the Collateral under the UCC.

      

      (c) 
        Each
        Debtor hereby irrevocably appoints the Secured Parties as such Debtor’s
        attorney-in-fact, with full authority in the place and instead of such Debtor
        and in the name of such Debtor, from time to time in the Secured Parties’
discretion, to take any action and to execute any instrument which the Secured
        Parties may deem necessary or advisable to accomplish the purposes of this
        Agreement, including the filing, in its sole discretion, of one or more
        financing or continuation statements and amendments thereto, relative to
        any of
        the Collateral without the signature of such Debtor where permitted by law,
        which financing statements may (but need not) describe the Collateral as
“all
        assets” or “all personal property” or words of like import, and ratifies all
        such actions taken by the Secured Parties. This power of attorney is coupled
        with an interest and shall be irrevocable for the term of this Agreement
        and
        thereafter as long as any of the Obligations shall be outstanding.

      

      16.
        Notices.
        All
        notices, requests, demands and other communications hereunder shall be subject
        to the notice provision of the Purchase Agreement (as such term is defined
        in
        the Notes).

      

      17.
        Other
        Security.
        To the
        extent that the Obligations are now or hereafter secured by property other
        than
        the Collateral or by the guarantee, endorsement or property of any other
        person,
        firm, corporation or other entity, then the Secured Parties shall have the
        right, in its sole discretion, to pursue, relinquish, subordinate, modify
        or
        take any other action with respect thereto, without in any way modifying
        or
        affecting any of the Secured Parties’ rights and remedies
        hereunder.

      

      18. 
        RESERVED.

       

      19. 
        Miscellaneous.

      

      (a)
         No
        course
        of dealing between the Debtors and the Secured Parties, nor any failure to
        exercise, nor any delay in exercising, on the part of the Secured Parties,
        any
        right, power or privilege hereunder or under the Notes shall operate as a
        waiver
        thereof; nor shall any single or partial exercise of any right, power or
        privilege hereunder or thereunder preclude any other or further exercise
        thereof
        or the exercise of any other right, power or privilege.

      

      (b)
         All
        of
        the rights and remedies of the Secured Parties with respect to the Collateral,
        whether established hereby or by the Notes or by any other agreements,
        instruments or documents or by law shall be cumulative and may be exercised
        singly or concurrently.

      

      (c)
         This
        Agreement constitutes the entire agreement of the parties with respect to
        the
        subject matter hereof and is intended to supersede all prior negotiations,
        understandings and agreements with respect thereto. Except as specifically
        set
        forth in this Agreement, no provision of this Agreement may be modified or
        amended except by a written agreement specifically referring to this Agreement
        and signed by the parties hereto.

       

      
        
          
          

        

        
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      (d)
         In
        the
        event any provision of this Agreement is held to be invalid, prohibited or
        unenforceable in any jurisdiction for any reason, unless such provision is
        narrowed by judicial construction, this Agreement shall, as to such
        jurisdiction, be construed as if such invalid, prohibited or unenforceable
        provision had been more narrowly drawn so as not to be invalid, prohibited
        or
        unenforceable. If, notwithstanding the foregoing, any provision of this
        Agreement is held to be invalid, prohibited or unenforceable in any
        jurisdiction, such provision, as to such jurisdiction, shall be ineffective
        to
        the extent of such invalidity, prohibition or unenforceability without
        invalidating the remaining portion of such provision or the other provisions
        of
        this Agreement and without affecting the validity or enforceability of such
        provision or the other provisions of this Agreement in any other
        jurisdiction.

      

      (e)
         No
        waiver
        of any breach or default or any right under this Agreement shall be considered
        valid unless in writing and signed by the party giving such waiver, and no
        such
        waiver shall be deemed a waiver of any subsequent breach or default or right,
        whether of the same or similar nature or otherwise.

      

      (f)
         This
        Agreement shall be binding upon and inure to the benefit of each party hereto
        and its successors and assigns.

      

      (g)
        Each
        party shall take such further action and execute and deliver such further
        documents as may be necessary or appropriate in order to carry out the
        provisions and purposes of this Agreement.

      

      (h)
        All
        questions concerning the construction, validity, enforcement and interpretation
        of this Agreement 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 Debtor agrees that all proceedings
        concerning the interpretations, enforcement and defense of the transactions
        contemplated by this Agreement and the Notes (whether brought against a party
        hereto or its respective affiliates, directors, officers, shareholders,
        partners, members, employees or agents) shall be commenced exclusively in
        the
        state and federal courts sitting in the City of New York, Borough of Manhattan.
        Each Debtor hereby irrevocably submits to the exclusive jurisdiction of the
        state and federal courts sitting in the City of New York, Borough of Manhattan
        for the adjudication of any dispute hereunder or in connection herewith or
        with
        any transaction contemplated hereby or discussed herein, and hereby irrevocably
        waives, and agrees not to assert in any proceeding, any claim that it is
        not
        personally subject to the jurisdiction of any such court, that such proceeding
        is improper. Each party hereto hereby irrevocably waives personal service
        of
        process and consents to process being served in any such 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 Agreement 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 Agreement or the transactions
        contemplated hereby. If any party shall commence a proceeding to enforce
        any
        provisions of this Agreement, then the prevailing party in such proceeding
        shall
        be reimbursed by the other party for its reasonable attorney’s fees and other
        costs and expenses incurred with the investigation, preparation and prosecution
        of such proceeding.

       

      
        
          
          

        

        
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      (i)
         This
        Agreement may be executed in any number of counterparts, each of which when
        so
        executed shall be deemed to be an original and, all of which taken together
        shall constitute one and the same Agreement. In the event that any signature
        is
        delivered by facsimile transmission, such signature shall create a valid
        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
        were the original thereof.

      

      (j) All
        Debtors shall jointly and severally be liable for the obligations of each
        Debtor
        to the Secured Parties hereunder.

      

      (k) Each
        Debtor shall indemnify, reimburse and hold harmless the Secured Parties and
        their respective partners, members, shareholders, officers, directors, employees
        and agents (collectively, “Indemnitees”)
        from
        and against any and all losses, claims, liabilities, damages, penalties,
        suits,
        costs and expenses, of any kind or nature, (including fees relating to the
        cost
        of investigating and defending any of the foregoing) imposed on, incurred
        by or
        asserted against such Indemnitee in any way related to or arising from or
        alleged to arise from this Agreement or the Collateral, except any such losses,
        claims, liabilities, damages, penalties, suits, costs and expenses which
        result
        from the gross negligence or willful misconduct of the Indemnitee as determined
        by a final, nonappealable decision of a court of competent jurisdiction.
        This
        indemnification provision is in addition to, and not in limitation of, any
        other
        indemnification provision in the Notes, the Purchase Agreement (as such term
        is
        defined in the Notes) or any other agreement, instrument or other document
        executed or delivered in connection herewith or therewith.

      

      (l) Nothing
        in this Agreement shall be construed to subject any Secured Party to liability
        as a partner in any Debtor or any if its direct or indirect subsidiaries
        that is
        a partnership or as a member in any Debtor or any of its direct or indirect
        subsidiaries that is a limited liability company, nor any Secured Party be
        deemed to have assumed any obligations under any partnership agreement or
        limited liability company agreement, as applicable, of any such Debtor or
        any if
        its direct or indirect subsidiaries or otherwise, unless and until any such
        Secured Party exercises its right to be substituted for such Debtor as a
        partner
        or member, as applicable, pursuant hereto.

      

      (m)
         To
        the
        extent that the grant of the security interest in the Collateral and the
        enforcement of the terms hereof require the consent, approval or action of
        any
        partner or member, as applicable, of any Debtor or any direct or indirect
        subsidiary of any Debtor or compliance with any provisions of any of the
        Organizational Documents, the Debtors hereby grant such consent and approval
        and
        waive any such noncompliance with the terms of said documents.

      

      [SIGNATURE
        PAGES FOLLOW]

       

      
        
          
          

        

        
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      IN
        WITNESS WHEREOF, the parties hereto have caused this Security
        Agreement to be duly executed on the day and year first above
        written.

      

      
        	
                UNITED
                  BENEFITS & PENSION SERVICES, INC.

              
	 
	 
	
                By:

              	
                /s/
                  Richard Stierwalt

              
	
                Name:
                  Richard Stierwalt

              
	
                Title:
                  Chief Executive Officer

              
	 
	 
	
                ASSOCIATED
                  THIRD PARTY ADMINISTRATORS

              
	 
	 
	
                By:

              	
                /s/
                  Richard Stierwalt

              
	
                Name:
                  Richard Stierwalt

              
	
                Title:
                  Chief Executive Officer

              
	 
	 
	
                Subsidiary

              
	 
	 
	
                By:

              	 

	
                Name:

              
	
                Title:

              
	 
	 
	
                Subsidiary

              
	 
	 
	
                By:

              	 

	
                Name:

              
	
                Title:

              

      

       

      
        
          

        

         

      

      [SIGNATURE
        PAGE OF HOLDERS FOLLOWS]

       

      
        
          
          

        

        
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      [SIGNATURE
        PAGE OF HOLDERS TO UNITED
        SA]

       

      Name
        of
        Investing Entity: CAMOFI
        Master LDC__________________________

      Signature
        of Authorized Signatory of Investing entity:
        /s/
        Richard Smithline     

      Name
        of
        Authorized Signatory: Richard
        Smithline        

      Title
        of
        Authorized Signatory: Director                

       

      [SIGNATURE
        PAGE OF HOLDERS FOLLOWS]

       

      
        
          
          

        

        
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      Name
        of
        Investing Entity: CAMHZN
        Master LDC                    

      Signature
        of Authorized Signatory of Investing entity:
        /s/
        Richard Smithline     

      Name
        of
        Authorized Signatory: Richard
        Smithline         

      Title
        of
        Authorized Signatory: Director                 

       

      [SIGNATURE
        PAGE OF HOLDERS FOLLOWS]

      

      
        
          
          

        

        
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      SCHEDULE
        A

      

      LOCATION
        OF COLLATERAL

      

      Principal
        Place of Business of Debtors:

      

      
        	 	
                1.

              	
                The
                  Principal Place of Business of UBPS is located at 501 Kings Highway
                  East,
                  Suite 108, Fairfield Connecticut. 

              

      

      

      
        	 	
                2.

              	
                The
                  Principal Place of Business of the Company, a wholly-owned subsidiary
                  of
                  UBPS, is located at 1640 South Loop Road, Alameda,
                  California.

              

      

      

      The
        Company leases office space (or in the case of Item 11 of this Schedule A,
        storage space) at the following locations where Collateral is located or
        stored:

      

      
        	
              	1.	
                601
                  N. Fairfax Street,
                  Suite 500, Alexandria, Virginia 

              

        	 	 	 

      

      
        	
              	2.	
                1411
                  Harbor Bay Parkway, #200, Alameda, California

              

        	 	 	 

      

      
        	 	
                3.

              	
                4399/4401
                  Santa Anita Ave, #150,200,202,203,204,212A, El Monte, California
                  

              

        	 	 	 

      

      
        	
              	4.	
                1305
                  S.W. 12th
                  Avenue, Portland, Oregon.

              

        	 	 	 

      

      
        	
              	5.	
                989
                  Market Street, San Francisco, California

              

        	 	 	 

      

      
        	
              	6.	
                2151
                  Salvio Street, Suite 350, Concord, California

              

        	 	 	 

      

      
        	
              	7.	
                2831
                  Camino Del Rio South, Suite 207, San Diego,
                  California

              

        	 	 	 

      

      
        	
              	8.	
                30
                  North La Salle, Suite 2000, Chicago,
                  Illinois

              

        	 	 	 

      

      
        	
              	9.	
                2280
                  Bates Avenue, Suite F, Concord, California

              

        	 	 	 

      

      
        	
              	10.	
                1999
                  Harrison Street, Suite 620, Oakland,
                  California

              

        	 	 	 

      

      
        	
              	11.	
                1326
                  SW 12th
                  Avenue, Portland, Oregon (storage) 

              

        	 	 	 

      

      
        	
              	12.	
                247
                  Golden Gate Ave, San Francisco,
                  California

              

        	 	 	 

      

      
        	
              	13.	
                1640
                  South Loop Road, Alameda, California

              

        	 	 	 

      

      UBPS
        leases office space at 501 Kings Highway East, Suite 108, Fairfield,
        Connecticut, at which Collateral is located or stored.

       

      None
        of
        the Debtors owns any real property.

       

      
        
          
          

        

        
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      SCHEDULE
        B

      

      ENCUMBRANCES
        ON COLLATERAL

       

      No
        Disclosure

       

      
        
          
          

        

        
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      SCHEDULE
        C

      

      JURISDICTIONS
        IN WHICH COLLATERAL LOCATED

      

      

      1.     California

      2.     Delaware

      3.     Oregon

      4.     Illinois

      5.     Virginia

      6.     Oregon

      7.     Connecticut

       

      
        
          
          

        

        
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      SCHEDULE
        D

      

      ORGANIZATIONAL
        IDENTIFICATION NUMBERS

      

      
        	
                Entity

              	 	
                Organizational
                  Identification Number

              
	
                UBPS

              	 	
                4230645
                  (Delaware)

              
	
                The
                  Company

              	 	
                C1842511
                  (California)

              

      

      

      
        
          
          

        

        
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      SCHEDULE
        E

      

      NAMES;
        MERGERS AND ACQUISITIONS

      

      The
        Company uses, or has used, the following names:

      

      1.    ATPA

      2.    S
        F
        Administrators

      3.    SFA

       

      The
        Company acquired TBOL within the last five years.

      

      
        
          
          

        

        
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      SCHEDULE
        F

      

      INTELLECTUAL
        PROPERTY

      

       1. None
        of
        the Debtors owns any federally registered intellectual property and any
        intellectual property of the debtor is protected by common law rights, if
        at
        all. The following software was developed by the Company for its internal
        use:

       

      
        	
                (a)
                  

              	
                Membership
                  enrollment and demographic maintenance and reporting.

              
	
                (b)
                  

              	
                Employer
                  billing.

              
	
                (c)
                  

              	
                Contribution
                  accounting.

              
	
                (d)

              	
                Health
                  and welfare plan eligibility computation and
                  distribution.

              
	
                (e)
                  

              	
                Defined
                  benefit pension accrual computation and reporting.

              
	
                (f)
                  

              	
                Pension
                  claim tracking.

              
	
                (g)
                  

              	
                Defined
                  benefit pension payment.

              
	
                (h)
                  

              	
                Defined
                  contribution accrual and reporting.

              
	
                (i)
                  

              	
                Vacation
                  accrual, reporting and payment.

              
	
                (j)
                  

              	
                Medical
                  claims payment.

              
	
                (k)

              	
                Dental
                  claims payment.

              
	
                (l)
                  

              	
                Drug
                  claims payment.

              
	
                (m)

              	
                Life
                  insurance payment.

              
	
                (n)
                  

              	
                Disability
                  claim payment.

              
	
                (o)
                  

              	
                Legal
                  claims payment.

              
	
                (p)
                  

              	
                Employee
                  time and cost accounting.

              

      

       

      2. Licenses
        in favor of the Company :

      

      
        	 	
                (a)

              	
                The
                  Company has agreed to purchase a license for claim administration
                  software
                  from Information Concepts, Inc. (“ICI”), the potential partner in the
                  reorganization of TBOL. The agreement with ICI is not yet finalized,
                  but
                  payments have been made by the
                  Company.

              

      

      

      
        	 	
                (b)

              	
                The
                  Company uses certain software pursuant to that certain Standard
                  Non-Exclusive License Agreement, dated as of April 9, 2007, by
                  and between
                  ICI, as licensor, and the Company, as licensee, pertaining to WebERF
                  software. 

              

      

       

      3. The
        Company owns the following domain names:

      

      (a)    atpa.com

      (b)    atpa.net

      (c)    atpa.org

      (d)    oe3fbo.org

      (d)    sncjt.org

      
        
          
          

        

        
          28
            of
            33

          
            

          

        

        
          
          

        

         

      

      4. UBPS
        owns
        the following domain  names:

      

      (a)    ubpsi.com

      (b)    unitedbenfitsandpensionservices.com

       

      
        
          
          

        

        
          29
            of
            33

          
            

          

        

        
          
          

        

      

      

      SCHEDULE
        G

      

      ACCOUNT
        DEBTORS

      

      No
        Disclosure

      

      
        
          
          

        

        
          30
            of
            33

          
            

          

        

        
          
          

        

      

      

      SCHEDULE
        H

      

      PLEDGED
        SECURITIES

      

      1. UBPS
        owns
        1,000 shares of the common stock, no par value per share, of the Company,
        which
        constitutes 100% of the outstanding capital stock of the Company.

       

      
        
          
          

        

        
          31
            of
            33

          
            

          

        

        
          
          

        

      

       

      ANNEX
        A

      to

      SECURITY

      AGREEMENT

      

      FORM
        OF ADDITIONAL DEBTOR JOINDER

      

      Security
        Agreement dated as of November
        30, 2007
        made
        by

      United
        Benefits & Pension Services, Inc.

      and
        its
        subsidiaries party thereto from time to time, as Debtors

      to
        and in
        favor of

      the
        Secured Parties identified therein (the “Security
        Agreement”)

      

      Reference
        is made to the Security Agreement as defined above; capitalized terms used
        herein and not otherwise defined herein shall have the meanings given to
        such
        terms in, or by reference in, the Security Agreement.

      

      The
        undersigned hereby agrees that upon delivery of this Additional Debtor Joinder
        to the Secured Parties referred to above, the undersigned shall (a) be an
        Additional Debtor under the Security Agreement, (b) have all the rights and
        obligations of the Debtors under the Security Agreement as fully and to the
        same
        extent as if the undersigned was an original signatory thereto and (c) be
        deemed
        to have made the representations and warranties set forth in Section ___
        therein
        as of the date of execution and delivery of this Additional Debtor Joinder.
        WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE UNDERSIGNED SPECIFICALLY
        GRANTS TO THE SECURED PARTIES A SECURITY INTEREST IN THE COLLATERAL AS MORE
        FULLY SET FORTH IN THE SECURITY AGREEMENT AND ACKNOWLEDGES AND AGREES TO
        THE
        WAIVER OF JURY TRIAL PROVISIONS SET FORTH THEREIN.

      

      Attached
        hereto are supplemental and/or replacement Schedules to the Security Agreement,
        as applicable.

      

      An
        executed copy of this Joinder shall be delivered to the Secured Parties,
        and the
        Secured Parties may rely on the matters set forth herein on or after the
        date
        hereof. This Joinder shall not be modified, amended or terminated without
        the
        prior written consent of the Secured Parties.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the undersigned has caused this Joinder to be executed in
        the
        name and on behalf of the undersigned.

      

      
        	 	
                [Name
                  of Additional Debtor]

              
	 	 
	 	
                By:

              
	 	
                Name:

              
	 	
                Title:

              
	 	 
	 	
                Address:

              
	 	 
	 	 
	
                Dated:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]