Document:

Exhibit 4.1

                             CIRALIGHT GLOBAL, INC.

                2012 EMPLOYEE AND CONSULTANT STOCK INCENTIVE PLAN

                          ADOPTED AS OF JANUARY 1, 2012

1. PURPOSE.

     The purpose of this Plan is to provide  incentives  to attract,  retain and
motivate  eligible  persons  whose  present  and  potential   contributions  are
important  to the  success of the  Company by offering  them an  opportunity  to
participate  in the  Company's  future  performance  through  awards of Options,
Restricted  Stock and Stock Bonuses.  Capitalized  terms not defined in the text
are defined in Section 2.

2. DEFINITIONS.

     As used in this Plan, the following terms will have the following meanings:

     "AWARD" means any award under this Plan,  including any Option,  Restricted
Stock or Stock Bonus.

     "AWARD  AGREEMENT"  means,  with respect to each Award,  the signed written
agreement  between the Company and the  Participant  setting forth the terms and
conditions of the Award.

     "BOARD" means the Board of Directors of the Company.

     "CAUSE" means any cause,  as defined by applicable law, for the termination
of a Participant's  employment with the Company or a Parent or Subsidiary of the
Company.

     "CODE" means the Internal Revenue Code of 1986, as amended.

     "COMPANY"  means  Ciralight  Global,  Inc.,  a Nevada  corporation,  or any
successor corporation.

     "DEBT  OBLIGATION"  means any  obligation  of the Company to a  Participant
(including an Insider) for  accounting,  engineering,  legal and other  services
rendered to the Company.

     "DISABILITY" means a disability, whether temporary or permanent, partial or
total, as determined by the Board.

     "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

     "EXCHANGE PRICE" means the price at which Shares are exchanged with holders
of Debt Obligations.

     "EXERCISE  PRICE"  means  the  price  at which a holder  of an  Option  may
purchase the Shares issuable upon exercise of the Option.

     "FAIR  MARKET  VALUE"  means,  as of any date,  the value of a share of the
Company's Common Stock determined as follows:
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     (a)  if such  Common  Stock is  publicly  traded  and is then  listed  on a
          national  securities  exchange,  its  closing  price  on the  date  of
          determination on the principal national  securities  exchange on which
          the Common  Stock is listed or  admitted to trading as reported in The
          Wall Street Journal;

     (b)  if such  Common  Stock is quoted on the NASDAQ  National  Market,  its
          closing  price  on  the  NASDAQ   National   Market  on  the  date  of
          determination as reported in The Wall Street Journal;

     (c)  if such Common Stock is publicly  traded but is not listed or admitted
          to trading  on a  national  securities  exchange,  the  average of the
          closing bid and asked prices on the date of  determination as reported
          by Bloomberg, L.P.;

     (d)  in the case of an Award  made on the  Effective  Date,  the  price per
          share at which  shares of the  Company's  Common  Stock are  initially
          offered for sale to the public by the  Company's  underwriters  in the
          initial  public  offering of the Company's  Common Stock pursuant to a
          registration statement filed with the SEC under the Securities Act; or

     (e)  if none of the foregoing is applicable, by the Board in good faith.

     "INSIDER"  means an officer or director of the Company or any other  person
whose  transactions  in the Company's  Common Stock are subject to Section 16 of
the Exchange Act.

     "OPTION" means an award of an option to purchase Shares pursuant to Section
6.

     "PARTICIPANT" means a person who receives an Award under this Plan.

     "PERFORMANCE  FACTORS" means the factors selected by the Board, in its sole
and absolute discretion,  from among the following measures to determine whether
the performance goals applicable to Awards have been satisfied:

     (a)  Net revenue and/or net revenue growth;

     (b)  Earnings before income taxes and  amortization  and/or earnings before
          income taxes and amortization growth;

     (c)  Operating income and/or operating income growth;

     (d)  Net income and/or net income growth;

     (e)  Earnings per share and/or earnings per share growth;

     (f)  Total stockholder return and/or total stockholder return growth;

     (g)  Return on equity;

     (h)  Operating cash flow return on income;

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     (i)  Adjusted operating cash flow return on income;

     (j)  Economic value added;

     (k)  Individual confidential business objective;

     (l)  Serving on the Board;

     (m)  Assisting the Company in getting its listed on an exchange;

     (n)  Assisting the Company's entry into major business relationships; and

     (o)  Any other performance  benchmark,  goal or milestone determined by the
          Board in its sole and absolute discretion.

     "PERFORMANCE  PERIOD" means the period of service  determined by the Board,
not to exceed five years,  during which years of service or performance is to be
measured for Restricted Stock Awards or Stock Bonuses.

     "PLAN" means this Ciralight Global, Inc. 2012 Employee and Consultant Stock
Incentive Plan, as amended from time to time.

     "RESTRICTED STOCK AWARD" means an award of Shares pursuant to Section 7.

     "SEC" means the Securities and Exchange Commission.

     "SECURITIES ACT" means the Securities Act of 1933, as amended.

     "SHARES"  means shares of the Company's  Common Stock reserved for issuance
under this Plan,  as adjusted  pursuant to Sections 3 and 19, and any  successor
security.

     "STOCK BONUS" means an award of Shares, or cash in lieu of Shares, pursuant
to Section 8.

     "TERMINATION" or "TERMINATED" means, for purposes of this Plan with respect
to a  Participant,  that the  Participant  has for any reason  ceased to provide
services as an employee, officer, director, consultant,  independent contractor,
or advisor to the  Company.  An  employee  will not be deemed to have  ceased to
provide  services in the case of (i) sick leave,  (ii) military  leave, or (iii)
any other leave of absence approved by the Company,  provided that such leave is
for a period of not more than 90 days,  unless  reemployment upon the expiration
of such leave is guaranteed by contract or statute or unless provided  otherwise
pursuant to a formal policy  adopted from time to time by the Company and issued
and  promulgated  to  employees  in writing.  In the case of any  employee on an
approved  leave of  absence,  the  Board  may make  such  provisions  respecting
suspension of vesting of the Award while on leave from the employ of the Company
or a  Subsidiary  as it may deem  appropriate,  except  that in no event  may an
Option be  exercised  after the  expiration  of the term set forth in the Option
agreement.   The  Board  will  have  sole  discretion  to  determine  whether  a
Participant  has ceased to provide  services and the effective date on which the
Participant ceased to provide services ("TERMINATION DATE").

     "UNVESTED   SHARES"  means  "Unvested  Shares"  as  defined  in  the  Award
Agreement.

     "VESTED SHARES" means "Vested Shares" as defined in the Award Agreement.

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3. SHARES SUBJECT TO THE PLAN.

     3.1 NUMBER OF SHARES  AVAILABLE.  Subject to Sections 3.2 and 19, the total
aggregate  number of  Shares  reserved  and  available  for  grant and  issuance
pursuant  to this Plan will be 621,500  plus  Shares  that are  subject  to: (a)
issuance  upon  exercise of an Option but cease to be subject to such Option for
any reason other than exercise of such Option;  (b) an Award  granted  hereunder
but forfeited or repurchased by the Company at the original issue price; and (c)
an Award that otherwise terminates without Shares being issued. At all times the
Company shall reserve and keep available a sufficient  number of Shares as shall
be required to satisfy the requirements of all outstanding Options granted under
this Plan and all other outstanding but unvested Awards granted under this Plan.

     3.2  ADJUSTMENT  OF SHARES.  In the event  that the  number of  outstanding
shares is changed by a stock dividend,  recapitalization,  stock split,  reverse
stock split, subdivision, combination, reclassification or similar change in the
capital structure of the Company without  consideration,  then (a) the number of
Shares  reserved for issuance  under this Plan,  (b) the Exercise  Prices of and
number of Shares  subject to outstanding  Options,  and (c) the number of Shares
subject to other outstanding Awards will be proportionately adjusted, subject to
any  required  action  by the  Board  or the  stockholders  of the  Company  and
compliance with applicable securities laws; provided, however, that fractions of
a Share will not be issued but will either be replaced by a cash  payment  equal
to the Fair  Market  Value of such  fraction of a Share or will be rounded up to
the nearest whole Share, as determined by the Board.

4. ELIGIBILITY.

      ISOs (as  defined in Section 6 below)  may be  granted  only to  employees
(including  officers and directors who are also  employees) of the Company.  All
other  Awards may be granted to  employees,  officers,  directors,  consultants,
independent  contractors and advisors of the Company or any Parent or Subsidiary
of the Company; provided such consultants,  contractors and advisors render bona
fide  services  not in  connection  with the offer and sale of  securities  in a
capital-raising transaction.

5. ADMINISTRATION.

     5.1 BOARD AUTHORITY.  This Plan will be administered by the Board.  Subject
to the general purposes,  terms and conditions of this Plan, the Board will have
full power to implement and carry out this Plan. Without  limitation,  the Board
will have the authority to:

     (a)  construe and interpret  this Plan,  any Award  Agreement and any other
          agreement or document executed pursuant to this Plan;

     (b)  prescribe,  amend and rescind rules and  regulations  relating to this
          Plan or any Award

     (c)  select persons to receive Awards;

     (d)  determine the form and terms of Awards;

     (e)  determine  the  number  of Shares or other  consideration  subject  to
          Awards;

     (f)  determine  whether Awards will be granted singly, in combination with,
          in tandem with, in replacement of, or as alternatives to, other Awards
          under this Plan or any other  incentive  or  compensation  plan of the
          Company or any Parent or Subsidiary of the Company;

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     (g)  grant waivers of Plan or Award conditions;

     (h)  determine the vesting, ability to exercise and payment of Awards;

     (i)  correct any defect, supply any omission or reconcile any inconsistency
          in this Plan, any Award or any Award Agreement;

     (j)  determine whether an Award has been earned; and

     (k)  make  all  other   determinations   necessary  or  advisable  for  the
          administration of this Plan.

     5.2 BOARD DISCRETION.  Any determination  made by the Board with respect to
any  Award  will  be made at the  time of  grant  of the  Award  or,  unless  in
contravention  of any express term of this Plan or Award, at any later time, and
such  determination  will be final and binding on the Company and on all persons
having an interest in any Award under this Plan.  The Board may  delegate to one
or more  officers of the Company the authority to grant an Award under this Plan
to Participants who are not Insiders of the Company.

6. OPTIONS.

      The Board may grant Options to eligible persons and will determine whether
such  Options  will be Incentive  Stock  Options  within the meaning of the Code
("ISO") or Nonqualified Stock Options ("NQSOS"), the number of Shares subject to
the Option, the Exercise Price of the Option, the period during which the Option
may be exercised,  and all other terms and conditions of the Option,  subject to
the following:

     6.1 FORM OF OPTION  GRANT.  Each  Option  granted  under  this Plan will be
evidenced by an Award  Agreement that will  expressly  identify the Option as an
ISO or an NQSO (hereinafter  referred to as the "STOCK OPTION  AGREEMENT"),  and
will be in such form and contain such provisions (which need not be the same for
each  Participant)  as the Board may from time to time  approve,  and which will
comply with and be subject to the terms and conditions of this Plan.

     6.2 DATE OF GRANT. The date of grant of an Option will be the date on which
the  Board  makes the  determination  to grant  such  Option,  unless  otherwise
specified by the Board.  The Stock Option Agreement and a copy of this Plan will
be delivered to the  Participant  within a reasonable time after the granting of
the Option.

     6.3 EXERCISE  PERIOD.  Options may be exercisable  within the times or upon
the events  determined  by the Board as set forth in the Stock Option  Agreement
governing  such Option;  provided,  however,  that no Option will be exercisable
after the expiration of ten (10) years from the date the Option is granted;  and
provided  further that no ISO granted to a person who directly or by attribution
owns  more than ten  percent  (10%) of the total  combined  voting  power of all
classes of stock of the  Company or of any Parent or  Subsidiary  of the Company
("TEN PERCENT STOCKHOLDER") will be exercisable after the expiration of five (5)
years from the date the ISO is  granted.  The Board also may provide for Options
to  become  exercisable  at one  time or  from  time to  time,  periodically  or
otherwise,  in such  number  of  Shares  or  percentage  of  Shares as the Board
determines. All Options granted hereunder shall grant the Participants the right

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to exercise  their Options  immediately  or at the rate of at least 20% per year
for five years,  subject to the continued  employment of the  Participant by the
Company.

     6.4 EXERCISE  PRICE.  The Exercise Price of an Option will be determined by
the Board when the  Option is  granted  and may be not less than 85% of the Fair
Market Value of the Shares on the date of grant; provided that: (a) the Exercise
Price of an ISO  will be not less  than  100% of the  Fair  Market  Value of the
Shares on the date of grant;  and (b) the Exercise Price of any ISO granted to a
Ten Percent  Stockholder  will not be less than 110% of the Fair Market Value of
the Shares on the date of grant. Payment for the Shares purchased may be made in
accordance with Section 9 of this Plan.

     6.5 METHOD OF EXERCISE.  Options may be  exercised  only by delivery to the
Company of a written stock option exercise agreement ("EXERCISE AGREEMENT") in a
form approved by the Board,  (which need not be the same for each  Participant),
stating the number of Shares being purchased,  the  restrictions  imposed on the
Shares purchased under such Exercise Agreement, if any, and such representations
and  agreements  regarding   Participant's   investment  intent  and  access  to
information  and other  matters,  if any, as may be required or desirable by the
Company to comply with applicable securities laws, together with payment in full
of the Exercise Price for the number of Shares being purchased.

     6.6  TERMINATION.  Notwithstanding  the  exercise  periods set forth in the
Stock  Option  Agreement,  exercise  of an Option  will always be subject to the
following:

          (a) If the  Participant's  service is Terminated for any reason except
death or  Disability,  then the  Participant  may  exercise  such  Participant's
Options only to the extent that such Options  would have been  exercisable  upon
the  Termination  Date no later  than  three (3)  months  after the  Termination
Date(or such shorter or longer time period not  exceeding  five (5) years as may
be determined by the Board,  with any exercise beyond three (3) months after the
Termination  Date  deemed to be an NQSO),  but in any  event,  no later than the
expiration date of the Options.

          (b)  If  the   Participant's   service   is   Terminated   because  of
Participant's  death or  Disability  (or the  Participant  dies within three (3)
months  after a  Termination  other than for Cause or  because of  Participant's
Disability), then Participant's Options may be exercised only to the extent that
such Options would have been  exercisable by Participant on the Termination Date
and must be exercised by Participant (or Participant's  legal  representative or
authorized assignee) no later than twelve (12) months after the Termination Date
(or such  shorter or longer time period not  exceeding  five (5) years as may be
determined  by the  Board,  with any such  exercise  beyond (i) three (3) months
after the Termination Date when the Termination is for any reason other than the
Participant's  death  or  Disability,  or (ii)  twelve  (12)  months  after  the
Termination Date when the Termination is for Participant's  death or Disability,
deemed to be an NQSO), but in any event no later than the expiration date of the
Options.

          (c)  Notwithstanding  the provisions in paragraph  6.6(a) above,  if a
Participant's  service is Terminated  for Cause,  neither the  Participant,  the
Participant's estate nor such other person who may then hold the Option shall be
entitled to exercise  any Option with  respect to any Shares  whatsoever,  after
Termination,  whether  or not after  Termination  the  Participant  may  receive
payment from the Company or Subsidiary  for vacation pay, for services  rendered
prior to  Termination,  for services  rendered for the day on which  Termination
occurs, for salary in lieu of notice, or for any other benefits. For the purpose
of this  paragraph,  Termination  shall be  deemed to occur on the date when the
Company  dispatches  notice or advice to the  Participant  that his  service  is
terminated.

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     6.7  LIMITATIONS  ON EXERCISE.  The Board may specify a reasonable  minimum
number of Shares that may be purchased  on any  exercise of an Option,  provided
that such minimum number will not prevent Participant from exercising the Option
for the full number of Shares for which it is then exercisable.

     6.8  LIMITATIONS ON ISO. The aggregate Fair Market Value  (determined as of
the date of grant) of Shares with respect to which ISO are  exercisable  for the
first time by a  Participant  during any calendar year (under this Plan or under
any other  incentive  stock option plan of the Company,  Parent or Subsidiary of
the Company) will not exceed $100,000. If the Fair Market Value of Shares on the
date of grant with respect to which ISO are  exercisable for the first time by a
Participant during any calendar year exceeds $100,000,  then the Options for the
first $100,000 worth of Shares to become  exercisable in such calendar year will
be ISO and the  Options  for the  amount  in  excess  of  $100,000  that  become
exercisable  in that calendar year will be NQSOs.  In the event that the Code or
the regulations  promulgated  thereunder are amended after the Effective Date of
this Plan to provide  for a different  limit on the Fair Market  Value of Shares
permitted  to be  subject to ISO,  such  different  limit will be  automatically
incorporated  herein and will apply to any Options  granted  after the effective
date of such amendment.

     6.9  MODIFICATION,  EXTENSION OR RENEWAL.  The Board may modify,  extend or
renew outstanding Options and authorize the grant of new Options in substitution
therefor,  provided that any such action may not, without the written consent of
a  Participant,  impair  any of  such  Participant's  rights  under  any  Option
previously granted. Any outstanding ISO that is modified,  extended,  renewed or
otherwise altered will be treated in accordance with Section 424(h) of the Code.
The Board may reduce the  Exercise  Price of  outstanding  Options  without  the
consent of Participants affected by a written notice to them; provided, however,
that the Exercise Price may not be reduced below the minimum Exercise Price that
would be  permitted  under  Section 6.4 of this Plan for Options  granted on the
date the action is taken to reduce the Exercise Price.

     6.10 NO DISQUALIFICATION. Notwithstanding any other provision in this Plan,
no term of this Plan  relating to ISO will be  interpreted,  amended or altered,
nor will any discretion or authority granted under this Plan be exercised, so as
to disqualify this Plan under Section 422 of the Code or, without the consent of
the Participant affected, to disqualify any ISO under Section 422 of the Code.

7. RESTRICTED STOCK.

     A Restricted  Stock Award is an offer by the Company to sell to an eligible
person Shares that are subject to restrictions. The Board will determine to whom
an offer will be made,  the number of Shares the person may purchase,  the price
to be paid  ("PURCHASE  PRICE"),  the  restrictions  to which the Shares will be
subject,  and all other terms and  conditions  of the  Restricted  Stock  Award,
subject to the following:

     7.1 FORM OF RESTRICTED  STOCK AWARD. All purchases under a Restricted Stock
Award  made  pursuant  to this  Plan  will be  evidenced  by an Award  Agreement
("RESTRICTED  STOCK PURCHASE  AGREEMENT")  that will be in such form (which need
not be the  same for each  Participant)  as the  Board  will  from  time to time
approve, and will comply with and be subject to the terms and conditions of this
Plan.  The offer of  Restricted  Stock  will be  accepted  by the  Participant's
execution  and delivery of the  Restricted  Stock  Purchase  Agreement  and full
payment for the Shares to the Company  within thirty (30) days from the date the
Restricted Stock Purchase  Agreement is delivered to the person.  If such person
does not execute and deliver the Restricted Stock Purchase  Agreement along with
full  payment for the Shares to the Company  within  thirty (30) days,  then the
offer will terminate, unless otherwise extended by the Board.

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     7.2  PURCHASE  PRICE.  The  Purchase  Price of Shares  sold  pursuant  to a
Restricted  Stock  Award  will  be  determined  by the  Board  on the  date  the
Restricted Stock Award is granted, except in the case of a sale to a Ten Percent
Stockholder,  in which case the  Purchase  Price will be 110% of the Fair Market
Value.  Payment of the Purchase Price must be made in accordance  with Section 9
of this Plan.

     7.3 TERMS OF  RESTRICTED  STOCK  AWARDS.  Restricted  Stock Awards shall be
subject to such restrictions as the Board may impose.  These restrictions may be
based upon completion of a specified number of years of service with the Company
or  upon  completion  of the  performance  goals  as set out in  advance  in the
Participant's  individual Restricted Stock Purchase Agreement.  Restricted Stock
Awards  may  vary  from   Participant  to  Participant  and  between  groups  of
Participants.  Prior to the grant of a Restricted  Stock Award, the Board shall:
(a) determine the nature, length and starting date of any Performance Period for
the Restricted Stock Award; (b) select from among the Performance  Factors to be
used to measure  performance  goals,  if any;  and (c)  determine  the number of
Shares  that may be  awarded  to the  Participant.  Prior to the  payment of any
Restricted  Stock  Award,  the Board  shall  determine  the extent to which such
Restricted  Stock  Award has been  earned.  Performance  Periods may overlap and
Participants  may participate  simultaneously  with respect to Restricted  Stock
Awards  that are subject to  different  Performance  Periods and have  different
performance goals and other criteria.

     7.4 TERMINATION DURING  PERFORMANCE  PERIOD. If a Participant is Terminated
during a  Performance  Period  for any  reason,  then such  Participant  will be
entitled to payment  (whether in Shares,  cash or otherwise) with respect to the
Restricted  Stock Award only to the extent earned as of the date of  Termination
in accordance  with the Restricted  Stock Purchase  Agreement,  unless the Board
determines otherwise.

     7.5 "RESTRICTED STOCK MEANS." "Restricted Stock" as used in this Plan means
Shares  that  are  subject  to  restrictions  imposed  by this  Plan  and not by
restrictions  required by the Securities Act and, therefore,  "Restricted Stock"
is not intended to be the same as "Restricted  Securities"  under the Securities
Act.

8. STOCK BONUSES.

     8.1 AWARDS OF STOCK BONUSES. A Stock Bonus is an award of Shares (which may
consist of Restricted Stock) for extraordinary services rendered to the Company.
A Stock  Bonus will be awarded  pursuant  to an Award  Agreement  ("STOCK  BONUS
AGREEMENT")  that  will be in such  form  (which  need  not be the same for each
Participant)  as the Board will from time to time approve,  and will comply with
and be subject to the terms and  conditions  of this Plan.  A Stock Bonus may be
awarded upon satisfaction of such performance goals as are set out in advance in
the  Participant's   individual  Award  Agreement   ("PERFORMANCE   STOCK  BONUS
AGREEMENT")  that  will be in such  form  (which  need  not be the same for each
Participant)  as the Board will from time to time approve,  and will comply with
and be subject to the terms and conditions of this Plan.  Stock Bonuses may vary
from Participant to Participant and between groups of  Participants,  and may be
based upon the achievement of the Company and/or individual  performance factors
or upon such other criteria as the Board may determine.

     8.2 TERMS OF STOCK  BONUSES.  The Board will determine the number of Shares
to be awarded to the  Participant.  If the Stock Bonus is being  earned upon the
satisfaction  of  performance  goals  pursuant  to  a  Performance  Stock  Bonus
Agreement,  then the Board will:  (a) determine the nature,  length and starting

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date of any Performance  Period for each Stock Bonus;  (b) select from among the
Performance  Factors  to be used to measure  the  performance,  if any;  and (c)
determine the number of Shares that may be awarded to the Participant.  Prior to
the payment of any Stock Bonus,  the Board shall  determine  the extent to which
such Stock Bonuses have been earned. Performance Periods may overlap and

Participants may participate  simultaneously  with respect to Stock Bonuses that
are subject to different Performance Periods and different performance goals and
other criteria. The number of Shares may be fixed or may vary in accordance with
such performance goals and criteria as may be determined by the Board. The Board
may adjust the  performance  goals  applicable to the Stock Bonuses to take into
account changes in law and accounting or tax rules and to make such  adjustments
as  the  Board  deems   necessary  or  appropriate  to  reflect  the  impact  of
extraordinary  or unusual items,  events or  circumstances to avoid windfalls or
hardships.

     8.3 FORM OF PAYMENT. The earned portion of a Stock Bonus may be paid to the
Participant by the Company either  currently or on a deferred  basis,  with such
interest or dividend equivalent, if any, as the Board may determine. Payment may
be made in the form of cash or whole Shares or a combination thereof,  either in
a lump sum payment or in installments, all as the Board will determine.

9. PAYMENT FOR SHARE PURCHASES.

     9.1 PAYMENT. Payment for Shares purchased pursuant to this Plan may be made
in cash (by check) or, where expressly approved for the Participant by the Board
and where permitted by law:

     (a)  by cancellation of, or credit against,  indebtedness of the Company to
          the Participant;

     (b)  by surrender of shares that either:

          i.   have been  owned by  Participant  for more than one year and have
               been paid for  within the  meaning of Rule 144 of the  Securities
               Act of 1933 (and, if such shares were  purchased from the Company
               by use of a promissory  note,  such note has been fully paid with
               respect to such shares); or

          ii.  were obtained by Participant in the public market;

     (c)  by  waiver of  compensation  due or  accrued  to the  Participant  for
          services rendered; or

     (d)  by any combination of the foregoing.

10. WITHHOLDING TAXES.

     10.1   WITHHOLDING   GENERALLY.   Whenever  Shares  are  to  be  issued  in
satisfaction  of Awards  granted  under this Plan,  the  Company may require the
Participant  to remit to the Company an amount  sufficient  to satisfy  federal,
state  and local  withholding  tax  requirements  prior to the  delivery  of any
certificate or certificates for such Shares. Whenever, under this Plan, payments
in satisfaction of Awards are to be made in cash, such payment will be net of an
amount  sufficient  to  satisfy  federal,   state,  and  local  withholding  tax
requirements.

     10.2 STOCK  WITHHOLDING.  When,  under  applicable  tax laws, a participant
incurs tax  liability  in  connection  with the exercise or vesting of any Award
that is subject to tax  withholding  and the Participant is obligated to pay the
Company the amount required to be withheld,  the Board may allow the Participant

                                       9
<PAGE>
to satisfy  the  minimum  withholding  tax  obligation  by  electing to have the
Company  withhold  from the Shares to be issued that  number of Shares  having a
Fair  Market  Value  equal  to  the  minimum  amount  required  to be  withheld,
determined  on  the  date  that  the  amount  of  tax  to be  withheld  is to be
determined.  All  elections by a  Participant  to have Shares  withheld for this
purpose will be made in  accordance  with the  requirements  established  by the
Board and be in writing in a form acceptable to the Board.

11. PRIVILEGES OF STOCK OWNERSHIP.

     11.1 VOTING AND DIVIDENDS.  No Participant will have any of the rights of a
stockholder  with  respect  to any  Shares  until the  Shares  are issued to the
Participant. After Shares are issued to the Participant, the Participant will be
a stockholder and will have all the rights of a stockholder with respect to such
Shares,  including  the  right  to vote  and  receive  all  dividends  or  other
distributions made or paid with respect to such Shares;  provided,  that if such
Shares are Restricted  Stock, then any new,  additional or different  securities
the  Participant  may become  entitled to receive with respect to such Shares by
virtue of a stock dividend,  stock split or any other change in the corporate or
capital structure of the Company will be subject to the same restrictions as the
Restricted Stock; provided,  further, that the Participant will have no right to
retain such stock dividends or stock  distributions  with respect to Shares that
are repurchased at the  Participant's  Purchase Price or Exercise Price pursuant
to Section 12.

     11.2 FINANCIAL  STATEMENTS.  Pursuant to regulation 260.140.46 of the Rules
of the California Corporations Commissioner,  the Company will provide financial
statements to each Participant  prior to such  Participant's  purchase of Shares
under this  Plan,  and to each  Participant  annually  during  the  period  such
Participant has Awards outstanding;  provided,  however, the Company will not be
required to provide such financial  statements to Participants whose services in
connection with the Company assure them access to equivalent information.

12. TRANSFERABILITY.

     Awards  granted  under this Plan,  and any  interest  therein,  will not be
transferable  or  assignable  by  Participant,  and may not be made  subject  to
execution,  attachment or similar process,  other than by will or by the laws of
descent and  distribution.  During the lifetime of the Participant an Award will
be exercisable only by the Participant.  During the lifetime of the Participant,
any  elections  with  respect  to an Award may be made  only by the  Participant
unless  otherwise  determined by the Board and set forth in the Award  Agreement
with respect to Awards that are not ISOs.

13. RESTRICTIONS ON SHARES.

     At the  discretion  of the Board,  the Company may reserve to itself and/or
its assignee(s) in the Award Agreement a right to repurchase a portion of or all
Unvested Shares held by a Participant  following such Participant's  Termination
at any time  within  ninety  (90)  days  after  the  later of (a)  Participant's
Termination Date, or (b) the date Participant  purchases Shares under this Plan.
Such repurchase by the Company shall be for cash and/or cancellation of purchase
money indebtedness,  and the price per share shall be the Participant's Exercise
Price or the Purchase Price, as applicable; provided that the Company's right to
repurchase  at the  original  Purchase  Price  shall lapse at the rate of 20% of
Unvested  Shares per year over five years from the date the Options were granted
(without respect to the date the Options were exercised or became exercisable).

                                       10
<PAGE>
14. CERTIFICATES.

     All certificates  for Shares or other securities  delivered under this Plan
will be subject to such stock transfer orders, legends and other restrictions as
the Board may deem  necessary or  advisable,  including  restrictions  under any
applicable federal,  state or foreign securities law, or any rules,  regulations
and other  requirements of the SEC or any stock exchange or automated  quotation
system upon which the Shares may be listed or quoted.

15. ESCROW; PLEDGE OF SHARES.

     To  enforce  any  restrictions  on a  Participant's  Shares,  the Board may
require  the  Participant  to  deposit  all  certificates  representing  Shares,
together  with stock  powers or other  instruments  of transfer  approved by the
Board  appropriately  endorsed in blank, with the Company or an agent designated
by the  Company  to hold in  escrow  until  such  restrictions  have  lapsed  or
terminated,  and the  Board  may  cause a legend  or  legends  referencing  such
restrictions to be placed on the certificates.  Any Participant who is permitted
to execute a promissory note as partial or full  consideration  for the purchase
of Shares  under  this Plan will be  required  to pledge  and  deposit  with the
Company  all or part of the  Shares so  purchased  as  collateral  to secure the
payment of  Participant's  obligation to the Company under the promissory  note;
provided,  however,  that the Board may  require or accept  other or  additional
forms of collateral to secure the payment of such  obligation and, in any event,
the Company will have full recourse against the Participant under the promissory
note notwithstanding any pledge of the Participant's Shares or other collateral.
In  connection  with any pledge of the Shares,  Participant  will be required to
execute and deliver a written  pledge  agreement  in such form as the Board will
from time to time approve.  The Shares purchased with the promissory note may be
released from the pledge on a pro rata basis as the promissory note is paid.

16. EXCHANGE AND BUYOUT OF AWARDS.

     The Board may,  at any time or from time to time,  authorize  the  Company,
with the consent of the respective Participants, to issue new Awards in exchange
for the surrender and cancellation of any or all outstanding  Awards.  The Board
may at any time buy from a Participant an Award previously  granted with payment
in cash, Shares (including  Restricted Stock) or other  consideration,  based on
such terms and conditions as the Board and the Participant may agree.

17. SECURITIES LAW AND OTHER REGULATORY COMPLIANCE.

     An Award will not be effective  unless such Award is in compliance with all
applicable  federal and state  securities  laws,  rules and  regulations  of any
governmental  body,  and the  requirements  of any stock  exchange or  automated
quotation system upon which the Shares may then be listed or quoted, as they are
in effect on the date of grant of the Award and also on the date of  exercise or
other  issuance.  Notwithstanding  any other provision in this Plan, the Company
will have no obligation to issue or deliver  certificates  for Shares under this
Plan prior to: (a) obtaining any approvals from  governmental  agencies that the
Company  determines  are  necessary or advisable;  and/or (b)  completion of any
registration  or other  qualification  of such Shares under any state or federal
law or  ruling  of any  governmental  body  that the  Company  determines  to be
necessary or advisable.  The Company will be under no obligation to register the
Shares with the SEC or to effect compliance with the registration, qualification
or  listing  requirements  of any  state  securities  laws,  stock  exchange  or
automated  quotation  system,  and the Company  will have no  liability  for any
inability or failure to do so.

                                       11
<PAGE>
18. NO OBLIGATION TO EMPLOY.

     Nothing in this Plan or any Award granted under this Plan will confer or be
deemed to confer on any  Participant  any right to continue in the employ of, or
to continue any other relationship with, the Company or any Parent or Subsidiary
of the  Company  or limit in any way the right of the  Company  or any Parent or
Subsidiary  of the  Company  to  terminate  Participant's  employment  or  other
relationship at any time, with or without cause.

19. CORPORATE TRANSACTIONS.

     19.1 ASSUMPTION OR REPLACEMENT OF AWARDS BY SUCCESSOR.  In the event of (a)
a dissolution or liquidation of the Company,  (b) a merger or  consolidation  in
which the  Company  is not the  surviving  corporation  (other  than a merger or
consolidation with a wholly-owned  subsidiary,  a reincorporation of the Company
in a  different  jurisdiction,  or  other  transaction  in  which  there  is  no
substantial  change in the  stockholders  of the Company or their relative stock
holdings  and the Awards  granted  under  this Plan are  assumed,  converted  or
replaced by the successor  corporation,  which assumption will be binding on all
Participants),  (c) a merger in which the Company is the  surviving  corporation
but after which the stockholders of the Company immediately prior to such merger
(other than any  stockholder  that  merges,  or which owns or  controls  another
corporation  that merges,  with the Company in such  merger)  cease to own their
shares or other equity  interest in the Company,  (d) the sale of  substantially
all of the assets of the Company,  or (e) the acquisition,  sale, or transfer of
more than 50% of the  outstanding  shares  of the  Company  by  tender  offer or
similar transaction,  any or all outstanding Awards may be assumed, converted or
replaced by the successor corporation (if any), which assumption,  conversion or
replacement  will  be  binding  on all  Participants.  In the  alternative,  the
successor  corporation may substitute equivalent Awards or provide substantially
similar  consideration  to Participants  as was provided to stockholders  (after
taking into  account the  existing  provisions  of the  Awards).  The  successor
corporation may also issue,  in place of outstanding  Shares of the Company held
by the  Participant,  substantially  similar shares or other property subject to
repurchase restrictions no less favorable to the Participant.  In the event such
successor  corporation  (if any)  refuses  to assume or  substitute  Awards,  as
provided above,  pursuant to a transaction  described in this  Subsection  19.1,
such Awards will expire on such  transaction at such time and on such conditions
as the  Board  will  determine.  Notwithstanding  anything  in this  Plan to the
contrary,  the Board may provide  that the vesting of any or all Awards  granted
pursuant  to this Plan will  accelerate  upon a  transaction  described  in this
Section 19. If the Board exercises such discretion with respect to Options, such
Options will become  exercisable in full prior to the consummation of such event
at such time and on such conditions as the Board determines, and if such Options
are not exercised prior to the consummation of the corporate  transaction,  they
shall terminate at such time as determined by the Board.

     19.2 OTHER  TREATMENT OF AWARDS.  Subject to any greater  rights granted to
Participants under the foregoing  provisions of this Section 19, in the event of
the occurrence of any  transaction  described in Section 19.1,  any  outstanding
Awards  will be treated  as  provided  in the  applicable  agreement  or plan of
merger, consolidation, dissolution, liquidation, or sale of assets.

     19.3 ASSUMPTION OF AWARDS BY THE COMPANY.  The Company,  from time to time,
also may substitute or assume  outstanding  awards  granted by another  company,
whether in connection with an acquisition of such other company or otherwise, by
either:  (a)  granting  an Award under this Plan in  substitution  of such other
company's award; or (b) assuming such award as if it had been granted under this
Plan if the terms of such  assumed  award  could be applied to an Award  granted
under this Plan.  Such  substitution  or assumption  will be  permissible if the
holder of the  substituted  or  assumed  award  would have been  eligible  to be

                                       12
<PAGE>
granted an Award  under this Plan if the other  company had applied the rules of
this Plan to such grant.  In the event the Company  assumes an award  granted by
another   company,   the  terms  and   conditions  of  such  award  will  remain
unchanged(except  that the  exercise  price and the  number and nature of Shares
issuable  upon  exercise  of any  such  option  will be  adjusted  appropriately
pursuant  to Section  424(a) of the Code).  In the event the  Company  elects to
grant a new Option rather than assuming an existing option,  such new Option may
be granted with a similarly adjusted Exercise Price.

20. ADOPTION AND STOCKHOLDER APPROVAL.

     This Plan will become  effective  on the date on which it is adopted by the
Board ("EFFECTIVE DATE"). This Plan shall be approved by the stockholders of the
Company  within twelve (12) months before or after the date this Plan is adopted
by the Board.  Upon the Effective  Date, the Board may grant Awards  pursuant to
this Plan. In the event that  stockholder  approval of this Plan is not obtained
within the time period provided  herein,  all Awards granted  hereunder shall be
cancelled,  any Shares issued  pursuant to any Awards shall be cancelled and any
purchase of Shares issued hereunder shall be rescinded.

21. TERM OF PLAN/GOVERNING LAW.

     Unless earlier terminated as provided herein,  this Plan will terminate ten
(10) years from the date this Plan is adopted by the Board or, if  earlier,  the
date of stockholder  approval.  This Plan and all agreements thereunder shall be
governed by and construed in accordance with the laws of the State of Nevada.

22. AMENDMENT OR TERMINATION OF PLAN.

     The  Board may at any time  terminate  or amend  this Plan in any  respect,
including  without  limitation  amendment  of any  form of  Award  Agreement  or
instrument to be executed  pursuant to this Plan;  provided,  however,  that the
Board will not, without the approval of the  stockholders of the Company,  amend
this Plan in any manner that requires such stockholder approval.

23. NONEXCLUSIVITY OF THE PLAN.

     Neither the adoption of this Plan by the Board, the submission of this Plan
to the stockholders of the Company for approval,  nor any provision of this Plan
will be construed as creating any limitations on the power of the Board to adopt
such additional compensation  arrangements as it may deem desirable,  including,
without  limitation,  the granting of stock options and bonuses  otherwise  than
under this Plan, and such  arrangements  may be either  generally  applicable or
applicable only in specific cases.

24. ACTION BY BOARD.

     Any action  permitted  or required to be taken by the Board or any decision
or determination  permitted or required to be made by the Board pursuant to this
Plan shall be taken or made in the Board's sole and absolute discretion.

Adopted by the Board of Directors as of January 1, 2012.

                                       13Exhibit 10.1

                                   CBS SPORTS

                      A Division of CBS Broadcasting, Inc.

                                    AGREEMENT

     AGREEMENT made as of October 31,2011, by and between CBS SPORTS, A Division
of CBS Broadcasting Inc., 51 West 52nd Street, New York, New York 10019 (herein
called "CBS"), and ARMADA SPORTS AND ENTERTAINMENT, INC., 254 South Ronald
Reagan Boulevard, Suite 134, Longwood, Florida 32750 (herein called "Licensor").

     In consideration of the mutual covenants herein contained, the parties
hereto have agreed and do hereby agree as follows:

I. (a) EVENT; DATES; SITES:

       EVENT: 2012-2013 and 2013-2014 MILLION DOLLAR INVITATIONAL (Taped golf
              competitions)

              Four (4) two (2)-hour shows per year

       2012-2013 TAPE DATES I SITES:

              August 4, 2012                   Half Moon Bay, California

              September 8, 2012                Glasgow, Scotland

              October 6, 2012                  Orlando, Florida

              December 1, 2012                 Rose Hall, Jamaica

       2013-2014 TAPE DATES I SITES: TBD

herein individually called an "Event" and collectively the "Events."

     (b) CBS shall make available eight (8) two (2)-hour time periods for the
broadcast coverage of each Event in high-definition (HD) format on the CBS
Television Network (the broadcast coverage during said time period is
hereinafter sometimes referred to individually as a "Program" and collectively
the "Programs" and sometimes referred to by the year in which such Events take
place as the "2012-2013 Programs" and the "2013-2014 Programs"). It is currently
contemplated that the broadcast time period for the 2012-2013 Programs will be
1:OO PM - 3:00PM ET on a Saturday to be determined by CBS in each of October,
November and December 2012 for the August 4, September 8 and October 6 Events,
respectively, and at a time to be determined by CBS on New Year's Day 2013 for
the December 1 Event. The 2013-2014 Programs shall be broadcast at similar dates
and times as the 2012-2013 Programs in the following year. The exact time period
for the broadcast coverage of the Events will be at CBS's sole discretion.
Notwithstanding anything to the contrary contained herein, CBS shall have no
obligation to provide broadcast coverage of an Event beyond the times set forth
herein.

                                       1
<PAGE>
II. NETWORK BROADCAST TERRITORY:

CBS shall have the exclusive right to make one (1) broadcast of each Event in
the broadcast area consisting of the United States, its territories and
possessions (excluding Puerto Rico) and Bermuda (hereinafter referred to as the
"Network Broadcast Territory").

III. COVERAGE SHALL BE PRODUCED BY LICENSOR

     (a) Licensor shall furnish to CBS complete color broadcast coverage of each
Event in HD format pursuant to the Terms and Conditions, attached hereto and
made a part of this Agreement. CBS shall have the right to edit the broadcast
coverage of the Events as CBS in its sole discretion shall determine. The
broadcast coverage shall be complete in all respects and ready for taped
broadcast over the facilities of CBS Television Network.

     (b) Licensor shall provide and pay all costs and expenses in connection
with all "above-the-line" and "below-the-line" elements, including, without
limitation, all the facilities, equipment and personnel necessary to produce and
edit the broadcast coverage of the Events, except for a Coordinating Producer
and a CBS graphics package, which CBS will provide and for which CBS will be
responsible; provided that CBS shall have no authority to incur costs on behalf
of or otherwise obligate Licensor for any such items without the prior written
consent of Licensor. In addition, upon request by Licensor, CBS may provide
On-Air Talent for the Events, provided that any additional costs incurred by CBS
for such On-Air Talent in connection with the Events shall be borne by Licensor.
All above and below-the-line elements shall be of a quality and at levels
substantially similar to those in effect for sports programs of a similar nature
and importance broadcast on the CBS Television Network. Licensor shall consult
with CBS and CBS shall have the right to approve all On-Air Talent and all
production facilities and personnel, which consent shall not be unreasonably
withheld or delayed. In this regard, Licensor shall furnish CBS Sports
Operations with the name of the representative of the supplier of all technical
facilities who shall be available to handle any problems with respect thereto.
CBS will advise Licensor if any such problems arise. The Programs must meet
CBS's artistic and technical standards for television programs and conform to
CBS's general policies concerning programs, including, without limitation,
Licensor's warranties set forth in paragraphs V below and 6 of the Terms and
Conditions.

     (c) Licensor and CBS shall consult with each other on all aspects of the
production of the Programs. CBS shall have the right to approve the third party
producing the Programs.

IV. COMPENSATION

     (a) In full consideration for making the network broadcast time periods set
forth in subparagraph I. (b) available for the broadcast of the Programs and for
all of the rights granted to Licensor herein, Licensor sha11 pay to CBS the
following net sums: (i) Four Hundred Fifty Thousand Dollars ($450,000) per two
(2)-hour network time period made available for the 2012- 2013 Programs for a
total of One Million Eight Hundred Thousand Dollars ($1,800,000); and (ii) Four
Hundred Seventy Thousand Dollars ($470,000) per two (2)-hour network time period

                                       2
<PAGE>
made available for the 2013-2014 Programs for a total of One Million Eight
Hundred Eighty Thousand Dollars ($1,880,000). The total net sum payable to CBS
hereunder is Three Million Six Hundred Eighty Thousand Dollars ($3,680,000). The
net sum for the 2012-2013 Programs shall be paid to CBS as follows: (i) Fifty
Thousand Dollars ($50,000) by no later than thirty (30) days prior to the taping
of each Event, with the balance of Four Hundred Thousand Dollars ($400,000) by
no later than forty-five (45) days prior to the broadcast of each 2012-2013
Program. The net sum for the 2013-2014 Programs shall be paid to CBS as follows:
(i) Fifty Thousand Dollars ($50,000) by no later than thirty (30) days prior to
the taping of each Event, with the balance of Four Hundred Twenty Thousand
Dollars ($420,000) by no later than forty-five (45) days prior to the broadcast
of each 2013-2014 Program. The foregoing amounts are net and are not subject to
a deduction for agency commission or otherwise. Timely payment is of the essence
of this Agreement. Without limiting any of CBS's rights or remedies under this
Agreement, if Licensor fails to make any payment as specified above, any and all
monies then due or to become due to CBS hereunder shall become immediately due
and payable upon notice from CBS to Licensor and CBS shall have the right to
terminate this Agreement effective at any time upon notice to Licensor. No
termination of this Agreement as provided in this subparagraph shall affect
CBS's right to payment of all accrued amounts due and payable hereunder.

     (b)  (i) Licensor shall have the right to sell eighteen (18) thirty
(30)-second commercial units during each one (1)-hour time period of network
broadcast time CBS will make available to Licensor for the broadcast of each
Program for a total of thirty-six (36) thirty (30)-second commercial units per
two (2)-hour Program. Licensor will retain all revenue received from the sale of
the commercial units.

     (ii) Licensor will receive one (1) opening billboard, one (1) middle
billboard and one (1) closing billboard in each Program.

     (c) Only an advertiser which purchases a minimum of four (4) commercial
units for the hour of the broadcast coverage of the Events shall be entitled to
have its name included in the title of the Events as broadcast by CBS. Any value
added segments must be approved in advance by CBS.

     (d) All commercial units to be sold by Licensor for broadcast during each
Program will be subject to the CBS Sales and Program Practices Departments'
policies and guidelines, including, without limitation, CBS's policies with
respect to commercial format, timing, billboards, sponsors, title sponsorship
and advertiser categories. Prior to offering commercial units for sale, Licensor
shall provide CBS with a list of the advertisers Licensor intends to solicit to
purchase commercial units in each Program. CBS will review the list for
compliance with CBS's sales policies and guidelines and advise Licensor if any
of the advertisers are unacceptable to CBS. CBS's acceptance of the advertisers
on the list will not be unreasonably withheld.

     (e) Except as set forth herein, the sale, production, delivery and
broadcast of the commercials to be contained in each Program shall be in
accordance with all of the terms and conditions of Schedule B of CBS's Network
Television Agreement, attached hereto as Exhibit I and made a part hereof as if
fully set forth herein. All commercials must be submitted to and approved by the
CBS Program Practices Department in accordance with paragraph 17 of Schedule B.

                                       3
<PAGE>
Licensor will use its best efforts to so submit the commercials no later than
the Wednesday prior to the broadcast of each Program. In the event of any
conflict or inconsistency between Schedule B and the terms and conditions
contained herein the terms and conditions contained herein shall govern. The
term "Agency" as used in said Schedule B shall mean "Licensor."

     (f) Licensor will furnish a duplicate copy of the list of all commercials
to be included in the broadcast of each Program, with the appropriate ISCI
numbers to the Vice President Program Practices, New York and the Vice President
Administration, CBS Television Network, a Division of CBS Broadcasting Inc.

     (g) CBS will provide to Licensor an appropriate program format for the
broadcast of the Programs, including all the elements of the format (e.g.,
timing, station breaks, commercial breaks) no later than ten (10) days prior to
the taping of the Programs.

     (h) The following notices will be included in the credit roll at the
conclusion of the broadcast of each Program containing the broadcast coverage of
the Events:

         "THIS HAS BEEN A PRESENTATION OF CBS SPORTS IN ASSOCIATION WITH
                     ARMADA SPORTS AND ENTERTAINMENT, INC."

V. ADDITIONAL TERMS

     (a) CBS shall have the right to schedule and broadcast in the Program: (i)
promotional announcements for the CBS Television Network (and any programming
transmitted over the CBS Television Network) and/or any other
programming/informational services (the "program services") (and any programming
or information transmitted over the program services) owned in whole or in part
by CBS Broadcasting Inc. or any other entity controlling, controlled by or under
common control with CBS Broadcasting Inc.; (ii) promotional announcements for
CBS licensed merchandise; (iii) customary network identification announcements;
(iv) news inserts; (v) public service announcements; and (vi) graphics. Each CBS
owned and affiliated television station shall also have the right to schedule
and broadcast in each Program local advertisements, promotional announcements
for such station (and any programming broadcast on such station) and customary
television station identification announcements and news inserts.

     (b) Each Program shall be exclusive to CBS in the Network Broadcast
Territory and Licensor will not authorize any broadcast or exploitation of such
Program in any media now known or hereafter created or in a manner which would
be directly competitive with CBS's broadcast of such Program in the Network
Broadcast Territory for a period ending five (5) days after the completion of
the network broadcast of such Program. Subject to the foregoing, all rights not
specifically granted to CBS herein are reserved by Licensor and permission from
CBS or any other entity to exploit such rights shall be at Licensor's sole
discretion.

                                       4
<PAGE>
     (c) CBS will provide promotion for each Program at a level consistent with
the promotion for similar sporting events broadcast over the CBS Television
Network.

     (d) With respect to each musical composition contained in each Program,
Licensor represents and warrants that the performing rights in and to such
musical compositions are:

     (i) available for license through the American Society for Composers,
Authors and Publishers (ASCAP), Broadcast Music, Inc. (BMI), or SESAC, Inc.;

     (ii) controlled by Licensor to the extent necessary to permit CBS's use of
each Program as expressly authorized herein; or

     (iii) in the public domain.

Licensor shall furnish CBS with music cue sheets for each Program at least
thirty (30) days prior to the broadcast of such Program. The cue sheets shall
indicate the title, composer(s), publisher(s) and length of each musical
composition, the type of use of each musical composition (theme, feature,
background or logo use) and the organization(s), if any, which administer(s) the
performing rights to said music (i.e. ASCAP, BMI, or SESAC). In any event,
Licensor will be solely responsible for all music licenses, including, without
limitation, master recording and synchronization licenses.

     (e) CBS may refuse to broadcast or may withdraw its approval of any Program
or any element thereof which does not, in the opinion of CBS, maintain an
artistic and technical quality creditable to CBS, or fails to conform to CBS's
Program Practices standards and policies concerning programs or to the
provisions set forth in the following subparagraph of this Agreement, or
contains any matter to which the second sentence of paragraph 12 of the Terms
and Conditions pertains. CBS will notify Licensor in a timely manner of the
changes necessary to make such Program acceptable to CBS. If Licensor fails to
change the Program as requested by CBS, CBS in its sole discretion may, without
prejudice to any other rights which it may have, refuse to broadcast such
Program or edit the Program so that it will be acceptable to CBS. CBS will
endeavor to notify Licensor in advance of broadcast of any changes made by CBS
pursuant hereto and first provide Licensor with a reasonable opportunity to cure
any deficiencies or non- compliant material.

     (f) In the event of any inconsistency or conflict between the terms and
conditions of paragraphs I-V of the Agreement and any of the attached Terms and
Conditions or Exhibit I, the terms and conditions of paragraphs 1-V of the
Agreement shall govern.

                            [Signature page follows]

                                       5
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.

ARMADA SPORTS & ENTERTAINMENT, INC          CBS SPORTS, A Division of CBS
                                            Broadcasting Inc.

By: /s/ R. Thomas Kidd                      By: /s/ Sean McManus
    -------------------------------             --------------------------------
Name:  R. Thomas Kidd                       Name:  Sean McManus
Title: CEO                                  Title: Chairman

                                       6
<PAGE>
TERMS AND CONDITIONS

     I. (a) The term "Event" or "Events" as used herein includes each sports
event named in paragraph I hereof and all events and activities taking place at
the Site on the Date(s) of such Events. Licensor shall be responsible for
furnishing to CBS, at no additional cost, the Site, the Events, the participants
and all other facilities and elements necessary for the conduct of the Events.
The Date and/or Site of any Event shall not be changed without CBS's prior
written approval, which shall be deemed of the essence of this Agreement.

     (b) Provided the official name of an Event has been approved by CBS, CBS
will use the Official name of an Event and instruct its on-air personnel to do
so. Any inadvertent failure to use the official name of any Event will not be a
breach of this Agreement.

     (c) Licensor will use Licensor's reasonable efforts to make Event
participants available to CBS for Event-related interviews at such place or
places or at such time or times as required by CBS at no additional cost to CBS.

     (d) Subject to good faith consultation with Licensor, CBS shall have (i)
advance approval over the manner of production (including pre- and
post-production) and complete control over the format of CBS's broadcasts
hereunder and (ii) the right to edit the coverage of the Events as CBS in its
sole discretion shall determine.

     2. Licensor warrants that each Event is sanctioned and/or licensed by such
sports organization(s) and/or authorities as have jurisdiction over the Events
and that the Events will be conducted in accordance with all of the applicable
rules and regulations of such organizations and/or authorities, if any. The
Events will be conducted subject to and in compliance with all applicable
federal, state and local law.

     3. The word "broadcast" as used herein means broadcast, transmission or
exhibition by means of television and/or television devices, methods and
improvements now or hereafter known without limitation. A "network broadcast" is
a broadcast by means of simultaneously interconnected television devices,
methods and/or improvements. A network broadcast includes delayed broadcasts
made not later than sixty (60) days after such simultaneous broadcast, over any
facilities that shall not have been used therefor, although ordered therefor, or
normally used in connection with similar broadcasts. The television devices,
methods and improvements referred to herein include, but are not limited to,
so-called "booster" or "translator" stations and relay systems, as well as
antenna systems which receive and retransmit or redistribute (with or without
amplification), television signals by wire or cable connection or otherwise to
television receiving sets. The Programs may be broadcast throughout the Network
Broadcast Territory over such network television facilities as CBS may select or
authorize. The broadcast hereunder may be made on a live basis and/or by means
of "recording" as CBS may elect. As used herein, the term "recording" shall mean
and include any recording made or authorized to be made by CBS by tape, wire,
film, disk or other similar or dissimilar method of recording television
programs.

                                       7
<PAGE>
     4. Subject to any limitations of which CBS is notified by Licensor, CBS's
rights shall include the right to broadcast, use and exploit excerpts of an
Event not exceeding three (3) minutes in length per excerpt in perpetuity on a
non-exclusive basis throughout the Network Broadcast Territory in any manner and
in any medium now known or hereafter developed.

     5. OMITTED

     6. (a) Licensor warrants and represents that it has the right and power to
enter into and fully perform this Agreement, that it has the right to grant the
rights granted CBS herein and that the broadcast and exploitation of the
coverage of the Events will not infringe upon or violate any rights of any kind
or nature whatsoever of any person, firm or corporation. Licensor further
warrants that Licensor has not granted and will not grant to any party any
rights of any kind which would or might derogate or interfere with any rights
granted herein.

     (b) Licensor shall inform CBS in writing of the names of any participants
in the Events whom Licensor (or any parent or subsidiary) (i) represents as an
agent, or (ii) represents as a business or personal manager. CBS may make such
announcement concerning such representation as CBS in its sole discretion may
deem appropriate.

     (c) Licensor warrants that all representations to CBS by Licensor and all
representations made by Licensor to third parties about any and all elements of
the Events, including, without limitation, the title of the Events, format,
record of the participants, purses, etc., are and shall be accurate and true in
every respect. Licensor further warrants that it has made and will make full
disclosure to CBS with respect to all such elements of the Events as soon as
possible after Licensor has knowledge.

     (d) Licensor warrants that all publicity which it issues or disseminates or
otherwise makes available concerning all elements of the Events will be accurate
and true in all material respects.

     (e) Licensor warrants that Licensor will not mislead or misrepresent with
respect to any material elements of the Events and that Licensor will include in
all of its future agreements with third parties that such third parties will not
misrepresent or mislead with respect to the Events. Licensor shall endeavor to
include in its prior agreements with third parties that such parties shall not
mislead or misrepresent with respect to the Events.

     (f) Licensor warrants that it shall maintain at its office of the address
set forth above, complete books and records (including without limitation copies
of all relevant contracts) relating to the subject matter of this Agreement.

     (g) Licensor warrants that Licensor will not use or authorize others to use
for any purpose whatsoever any trademarks or service marks of CBS Broadcasting
Inc., or its subsidiaries or divisions, including but not limited to the CBS
"Eye" device and the letters "CBS," "CBS SPORTS," "CBS SPORTS SPECTACULAR," "THE
CBS SPORTS SHOW," "EYE ON SPORTS," "CBS SPORTS SATURDAY," "CBS SPORTS SUNDAY"
and/or "CBS SPORTS TONIGHT" without the prior written consent of CBS.

                                       8
<PAGE>
     7. (a) Licensor will at all times indemnify and hold harmless CBS
Corporation, CBS and their related entities, and any person, firm or corporation
deriving rights from any of the foregoing, from all claims, damages,
liabilities, costs and expenses (including reasonable counsel fees) arising out
of or relating to (i) the broadcast and exploitation of the coverage of the
Events and any commercials or other materials furnished for broadcast by
Licensor, (ii) a breach by Licensor of any warranty or agreement made by
Licensor herein, (iii) any act or omission by Licensor with regard to any
element furnished by Licensor to CBS or (iv) the exploitation of the coverage of
the Events by Licensor pursuant to paragraph 20 hereof, CBS will promptly notify
Licensor of any claim to which the above indemnity applies and Licensor shall
defend the same at its own expense.

     (b) CBS will at all times indemnify and hold harmless Licensor from and
against any and all suits, claims, damages, liabilities, costs and expenses
(including reasonable counsel fees) arising out of (i) a breach by CBS of any
warranty or agreement made by CBS herein or (ii) the use of any materials or
services furnished by CBS for and in connection with the broadcast of the
coverage of the Events. Licensor will promptly notify CBS of any claim to which
the above indemnity applies and CBS shall defend the same at its expense.

     8. CBS's Program Practices Department policies and standards shall apply to
the Events and to the Sites at which the Events take place. Licensor shall
comply with and shall cause those persons controlling any Site to comply with
all such policies and standards. Unless CBS consents thereto in advance in
writing no banner, placard, billboard, decal, insignia or other means of
advertising containing any commercial message, trade name, trademark or
identifying device for any product, service or institution shall appear or be
included at a Site (in the normal range of television cameras) or on any person
connected with an Event (e.g., managers, handlers, announcers, referees, etc.).
Two (2) weeks prior to date of an Event, Licensor will provide CBS with a
written Signage Statement setting forth the location of and the advertiser for
all Signage to be included at the Site of an Event and the number of commercial
units the advertiser identified on a Sign will have in the relevant Program, if
any. Such statement will include those products, services and/or institutions
which shall be advertised on any permanent banner, plaque or billboard or other
similar means of advertising. It is understood, however, that Licensor does not
control the placement of "permanent" advertising at a Site (i.e., fixed or
immovable advertising in place on a year-round basis). Licensor will advise CBS
reasonably in advance of the broadcast or recording of each Event of those
products, services and/or institutions which shall be advertised on any
permanent banner, plaque or billboard or other similar means of advertising. CBS
will review the Signage Statement for compliance with CBS's policies and
standards and advise Licensor without delay if the Signage Statement is in
compliance with CBS's standards and policies. Licensor's compliance with the
CBS-approved Signage Statement will not be a breach of this Agreement. Any
breach of the provisions of this paragraph shall be a material breach of this
Agreement.

     9. CBS, and each station scheduled to broadcast the Programs shall have the
right and may grant to others the right to reproduce, print, publish or
disseminate in any medium the name and likeness and voice of each person
appearing in or connected with an Event and biographical material concerning
such persons as news or information, for purposes of trade or for advertising
purposes (including without limitation institutional advertising) and including
the advertising or promotion of the broadcast hereunder; provided, however, that
there shall be no direct endorsement by any such persons of any product or
service without such person's prior written consent.

                                       9
<PAGE>
     10. At CBS's request Licensor shall furnish CBS with a reasonable number of
choice complimentary tickets/passes to each Event.

     11. Licensor, in furnishing all the below-the-line elements necessary for
the production of coverage of an Event, will provide, among other things, the
following: free and unrestricted access for CBS personnel to the Site where the
Event is taking place; priority locations and suitable space for CBS announcers
and/or production personnel if CBS is furnishing the same; adequate parking
space at the Site for CBS personnel, mobile units and equipment; production
facilities; lighting and camera equipment (both fixed position and hand held);
satisfactory camera locations and electrical power; security as CBS shall
determine; and such other elements as CBS may from time to time reasonably
request, all of which shall be in accordance with CBS requirements to ensure a
first class quality color broadcast of the Event meeting CBS's technical and
programming standards. CBS shall have a right of approval over all the
below-the-line elements. In this regard, Licensor shall furnish CBS Sports
Operations with the name of the representative of the supplier of all technical
facilities who shall be available to handle any problems with respect thereto.

     12. Licensor shall conform to the requirements of Section 507 of the
federal Communications Act of 1934 concerning broadcast matter and disclosures
required thereunder, insofar as the Section applies to those furnishing program
material for television broadcasting. Licensor warrants and represents that
without the prior approval of the CBS Program Practices Department no portion of
an Event or related activities includes or shall include any matter for which
any money, service or other valuable consideration is directly or indirectly
paid, or promised to, or charged or accepted by Licensor, other than sums paid
to Licensor or its affiliated entities for arranging and managing the
presentation of the Event. Licensor shall exercise reasonable diligence to
inform its employees and other persons with whom Licensor deals directly in
connection with an Event of the requirements of the said Section 507; provided,
however, that no act of any such employee or of any independent contractor
connected with the Event or related activities shall constitute a breach of the
provisions of this paragraph unless Licensor has actual notice thereof. As used
in this paragraph, the term "service or other valuable consideration" shall not
include any service or property furnished without charge or at a nominal charge
for use in or in connection with an Event "unless it is so furnished in
consideration for an identification in a broadcast of any person, product,
service, trademark or brand name beyond an identification which is reasonably
related to the use of such service or property on the broadcast," as such terms
are used in the said Section 507. No inadvertent failure by Licensor to comply
with this paragraph shall be deemed a breach of this Agreement.

     13. If Licensor owns or controls the network television broadcast rights to
the next subsequent comparable Events scheduled to take place after the
2013-2014 Events hereunder, Licensor shall immediately so notify CBS and at
CBS's election, Licensor shall negotiate exclusively with CBS in good faith for
a period of thirty (30) days beginning on October 1, 2013

                                       10
<PAGE>
(the "Negotiating Period") with respect to the acquisition by CBS of such
broadcast rights. At no time prior to or during the Negotiating Period shall
Licensor discuss or enter into an agreement with any third party for the
acquisition of broadcast rights to any such Events for the Network Broadcast
Territory. If at the end of the Negotiating Period CBS and Licensor have not
reached agreement, Licensor shall notify CBS in writing of Licensor's last offer
(i.e., the terms and conditions on which it would be willing to license such
rights to any such Events; provided, however, that if Licensor fails to notify
CBS in writing at the conclusion of the Negotiating Period, said Negotiating
Period shall be deemed to continue uninterrupted w1til such time as Licensor
submits Licensor's last offer to CBS in writing. Such notice shall contain an
offer (the "Offer") to contract with CBS on such terms and CBS shall have a
period of fourteen (14) days in which to accept the Offer. If CBS does not
accept the Offer, Licensor may enter into agreement with any third party with
respect to subsequent broadcasts of any such Events, but not in any instance on
terms and conditions equal to or less favorable to Licensor than those contained
in the Offer without in each instance notifying CBS of such terms. Each such
notice shall contain an offer (herein called a "Reoffer") to contract with CBS
on such terms. CBS shall have a period of seven (7) days in which to accept each
such Reoffer. CBS shall be deemed to have accepted any Offer or Reoffer by
acceptance of all of the terms thereof readily reducible to a determinable sum
of money.

     14. This Agreement has been entered into in the State of New York, and the
validity, interpretation and legal effect of this Agreement shall be governed by
the laws of the State of New York applicable to contracts entered into and
performed entirely within the State of New York, with respect to the
determination of any claim, dispute or disagreement which may arise out of the
interpretation, performance or breach of this Agreement.

     15. Except as otherwise specifically provided herein, all notices hereunder
shall be in writing and shall be given by personal delivery, registered or
certified mail, at the respective addresses hereinabove set forth, or such other
address or addresses as may be designated by either party. Such notices shall be
deemed given when mailed or delivered to a post office or courier, except that
notice of change of address shall be effective only from the date of its
receipt.

     16. This Agreement contains the entire understanding of the parties hereto
relating to the subject matter hereof and cannot be changed or terminated
orally.

     17. A waiver by either party of any term or condition of this Agreement in
any instance shall not be deemed or construed as a waiver of such term or
condition for the future, or of any subsequent breach thereof. All remedies,
rights, undertakings, obligations and agreements contained in this Agreement
shall be cumulative and none of them shall be in limitation of any other remedy,
right, undertaking, obligation or agreement of either party.

     18. The invalidity or unenforceability of any provision of this Agreement
shall in no way affect the validity or enforceability of any other provision of
this Agreement.

     19. (a) Prior to the Date of an Event, Licensor shall, at its own expense,
secure a policy of television liability insurance applicable to the broadcasts
hereunder and acceptable to CBS having limits of at least $1,000,000/$3,000,000.

                                       11
<PAGE>
Such insurance shall have standard coverage, including, but not limited to,
coverage with respect to defamation, infringement of common law or statutory
copyright, infringement of rights in material to be broadcast or in the manner
of presentation thereof, invasion of privacy rights and unauthorized use of
material. Such policy shall include a provision requiring the insurance company
to give CBS prompt notice of any revision, modification or cancellation thereof.
Promptly after securing such policy, Licensor shall furnish CBS with a copy
thereof. CBS shall be included as a named insured in the policy of insurance
obtained by Licensor in compliance with this paragraph 19. Such policy shall
contain an endorsement deleting the condition thereof entitled "Other Insurance"
as to any insurance in force for or in the name of CBS.

     (b) Prior to the Date of an Event, Licensor shall, at its sole cost and
expense, obtain and maintain (or shall cause to be obtained and maintained) at
all times the following insurance policies acceptable to CBS: Workers'
Compensation; Employer's Liability having a limit of at least $100,000 per
occurrence; Comprehensive General Liability having a combined single limit
(bodily injury and property damage) of at least $1,000,000 per occurrence and
$3,000,000 in the aggregate; if production is on location or otherwise entails
automobile usage, Comprehensive Automobile Liability having limits of at least
$1,000,000/$3,000,000 plus $500,000 property damage: and, if rental automobiles
are used, Non-Ownership Automobile Liability, having limits of at least
$1,000,000/$3,000,000 plus $500,000 property damage. Each of the aforementioned
policies as required shall include a provision requiring the insurance company
to give CBS prompt notice of at least thirty (30) days of any revision,
modification or cancellation thereof. Promptly after such policies have been
secured, at CBS's request, Licensor shall furnish CBS with copies of the
certificates of insurance or, at CBS's request, copies of the insurance
policies. CBS shall be included as an additional insured in all policies of
insurance (except Workers' Compensation) obtained by or at the instruction of
Licensor in compliance with this subparagraph.

     20. Nothing contained herein shall preclude Licensor from exploiting the
coverage of an Event in whole or in part in any manner or media outside of the
Network Broadcast Territory during the License Period; provided, however, that
if such coverage shall include CBS graphic materials and/or the likeness, voice
or name of any sportscaster or expert analyst or the services of other persons
furnished by CBS hereunder in connection with such coverage, Licensor shall be
solely responsible for the payment of all expenses, residuals and/or fees which
may become payable for the use of such materials and/or to any such person by
virtue of such exploitation of the coverage and Licensor shall make any
applicable union pension and welfare contributions based thereon, if any; and
provided, further, that Licensor give CBS prior notice of such exploitation.

     21. If CBS's broadcast of the coverage of an Event is prevented or omitted,
in whole or in part, because of: act of God; inevitable accident; fire; lockout,
strike or other labor dispute; riot or civil commotion; act of public enemy;
enactment, rule, order or act of any government or governmental instrumentality
(whether federal, state, local or foreign); failure of technical facilities;
failure or delay of transportation facilities; illness or incapacity of any
Event participant named in this Agreement; or the recapture of the then
scheduled original network broadcast time period of an Event for the purpose of
broadcasting a matter of public importance; or other cause of a similar or
different nature beyond CBS's control, CBS shall have the option to broadcast

                                       12
<PAGE>
the coverage of such Event during another time period(s) in a similar daypart in
accordance with CBS 's broadcast requirements, as solely determined by CBS. If
for any reason beyond Licensor's control (including, without being limited to,
adverse weather conditions) an Event is not held on the scheduled Date, Licensor
shall immediately notify CBS of the rescheduled Date(s) of the Event, if any,
and CBS shall have the option to require Licensor to produce coverage of the
Event for CBS on such Date(s) pursuant to the terms and conditions hereof and
CBS shall broadcast the coverage of the Event during another time period(s) in a
similar daypart in accordance with CBS's broadcast requirements, as solely
determined by CBS. If the coverage of an Event cannot be broadcast during the
originally scheduled broadcast time period(s) for any reason set forth in this
paragraph or in another time period in a similar daypart, CBS and Licensor shall
have the right to mutually agree to elect to broadcast alternative sports
programming during the original time period(s) and broadcast the commercial
units furnished by Licensor for inclusion in the broadcast coverage of the Event
in such alternative programming. If for any reason the commercials furnished by
Licensor hereunder cannot be broadcast in sports programming on the CBS
Television Network, Licensor and CBS will negotiate in good faith other options
with respect to the commercial units, including, without limitation, a pro rata
return of the sum paid by Licensor pursuant to subparagraph IV.(a).

                                       13
<PAGE>
                                    EXHIBIT I

Attached hereto and made a part hereof the Agreement dated as of October 31,
2011, between CBS SPORTS, A Division of CBS Broadcasting Inc., and ARMADA SPORTS
AND ENTERTAINMENT, INC.

                                   SCHEDULE B
                    CBS TELEVISION NETWORK NETWORK TELEVISION
                         AGREEMENT TERMS AND CONDITIONS
                                     GENERAL

I.  As u sed herein

     (i) "Program" means everything contained in each broadcast or contemplated
broadcast hereunder with the exception of commercial, billboard and promotional
material and supervening program material" (as hereinafter defined). As used
herein, "Program" will be deemed to include "Program Series";

     (ii) "supervening program material" means any matter of the nature set
forth in subdivisions (i) through (v) of subparagraph (a) of paragraph 4 hereof;

     (iii) "broadcast" means broadcast, transmission and exhibition by means of
such television devices, methods and improvements now or hereafter developed as
CBS may elect;

     (iv) "Commercial" means each commercial message furnished for broadcast on
behalf of Advertiser hereunder. Unless otherwise specified herein, each
Commercial shall total either thirty (30) seconds. The term "unit'" has the same
meaning as Commercial. The applicable length of any Commercial shall be as set
forth in the Agreement.

     (v) "CNYT" means New York time current at time of broadcast; (vi) "CLAT'"
means Los Angeles time current at time of broadcast; (vii ) "delayed broadcast"
means a broadcast hereunder occurring other than at the scheduled time of
original broadcast hereunder, but not more than sixty (60) days thereafter;

     (viii) "recording" and "recordings" mean any recording or recordings made
(whether before, during, or after a broadcast transmission) by tape, wire, film,
disc, or any other similar or dissimilar method of recording aural and/or visual
portions of television programs, whether now known or hereafter developed;

     (ix) "Billboard" mea ns a brief oral and /or visual announcement
identifying Advertiser's sponsorship of the Program or Program Series and/or (in
accordance with CBS's policies) describing one ( I ) or more of the products or
services listed in the Agreement hereof or as provided in paragraph 15 of this
Schedule B. CBS will broadcast Billboards in an equitable manner consistent with
its policies and subject to commitments to other advertisers. The omission of
any Billboard for any reason shall not constitute a breach hereof and CBS shall
have no liability to Agency with respect thereto;

     (x) "Special Program" means any special information, public affairs or
entertainment Program of whatever length; (xi) "news bulletin" means an oral
and/or visual announcement of the occurrence of a news event made promptly after
the sa me has become known to C BS;

     (xii) "news report" means an oral and/or visual announcement of the
occurrence of a news event which in CBS's sole judgment does not require
treatment as a news bulletin but the announcement of which to the public should
not be delayed until the next regularly scheduled CBS Television Network news
program;

     (xiii) "the term" of this Agreement means the period commencing upon the
date of original broadcast of the first Commercial hereunder and ending upon the
date of the original broadcast of the last Commercial hereunder and any delayed
broadcasts thereof;

     (xiv) "Broadcast Time Period" means the day and/or approximate time period
during which each Program i s scheduled for broadcast. Each Broadcast Time
Period refers to CNYT except broadcasts in the Pacific Time Zone, which are
CLAT;

                                       14
<PAGE>
     (xv) OMITTED;

     (xvi) "Agency Package" means everything necessary for the production and
performance of the Billboards and Commercials so as to be ready for broadcast
including, without being limited to, all commercial material and all personnel
to be used in connection therewith.

     (xvii) "Vignette Program" means any regularly scheduled program of one
minute or less in duration, including, but not limited to, programs such as
NEWSBREAK or local station N EWSB.REAK.

     2. (a) Agency and Advertiser will indemnify and hold harmless CBS, its
parents, subsidiaries, affiliates, any stations broadcasting the Programs, and
any other advertiser whose billboard or commercial material is broadcast during
the Broadcast Time Period, and the directors, officers and employees of any of
them, from and against any and all claims, damages, liabilities, costs and
expenses, including reasonable counsel fees, arising out of the use of the
Agency Package pursuant to this Agreement. CBS will promptly notify Agency of
any claim or litigation to which the indemnity set forth herein applies. Agency
or Advertiser will assume the defense of any claim or litigation, and Agency's
and Advertiser's obligations with respect thereto shall be limited to the
payment of any judgment, or settlement approved by either of them, together with
all taxable costs and all bills of lawyers retained by them in connection
therewith. The exercise of, or the failure to exercise, any rights reserved to
CBS under paragraphs 17 and 19 hereof shall have no effect upon any of Agency's
or Advertiser's obligations under this paragraph.

     (b) CBS will indemnify and hold harmless Advertiser and Agency, and the
directors, officers and employees of each of them, from and against any and all
claims, damages, liabilities, costs and expenses, including reasonable counsel
fees, arising out of the broadcast of any material furnished by CBS. Agency or
Advertiser will promptly notify CBS of any claim or litigation to which the
indemnity set forth herein applies. CBS will assume the defense of any claim or
litigation, and CBS's obligations with respect thereto shall be limited to the
payment of any judgment, or settlement approved by CBS, together with all
taxable costs and all bills of lawyers retained by CBS in connection therewith.

     3. If by reason of: act of God; inevitable accident; fire; lockout, strike,
or other labor dispute; riot or civil commotion; act of public enemy; enactment,
rule, order, or act of government or governmental instrumentality (whether
federal, state, or local); illness or incapacity of any important performer,
failure in whole or in part of the broadcast or other facilities for which (as
between CBS and Agency) CBS is responsible hereunder; or other cause of a
similar or different nature beyond CBS's control, CBS fails to perform fully
hereunder, the same shall not constitute a failure of performance by CBS, and
CBS shall not be liable to Agency as a result thereof.

     4. (a) CBS reserves the right (in its sole discretion and without
liability) to advance or delay one or more broadcasts of the Program(s) and or
Commercial(s) or to interrupt or to omit in whole or in part any one or more
broadcasts of the Programs and Commercials over any station(s) scheduled to make
such broadcast for the purpose of or in connection with broadcasting whether on
a sponsored or unsponsored basis:

     (i) events of public importance;

     (ii) political programs;

     (iii) Special Programs;

     (iv) news bulletins or

     (v) news reports

     CBS will endeavor to give Agency as much advance notice as possible of any
omission pursuant to this subparagraph (a) (except that no notice need be given
in the case of news bulletins or news reports). Posting, by ordinary mail, of a
CBS Supplementary Notice shall constitute notice hereunder.

     (b) CBS shall determine that it has an obligation under the federal
Communications Act, as amended, to provide candidates for public office with
time for paid political announcements, CBS shall have the right to omit the
broadcast of any Commercial or Program hereunder over any station(s) scheduled
to make such broadcast.

     (c) If pursuant to paragraph 3 hereof or subparagraphs (a) or (b) of this
paragraph any Scheduled Commercial is not broadcast, and CBS and Agency after
good faith negotiations do not agree with respect to the rescheduling of any
such Commercial, then each such Commercial shall be eliminated from this
Agreement and CBS will allow Agency an equitable adjustment in the price.

     (d) Notwithstanding the provisions of subparagraphs 4(a), 4(b) and 4(c)
hereof, if CBS, after notifying Agency or Advertiser of an omission pursuant to
paragraphs 3, or subparagraph 4(a) or 4(b) hereof, elects to reinstate in its
original Broadcast Time Period any Program originally so omitted, CBS shall
broadcast each Commercial as originally set forth in the Agreement, unless such
Commercial has been broadcast (pursuant to an agreement reached between CBS and
Agency) prior to the date such Program was reinstated.

                                       15
<PAGE>
     (e) If for any reason of the nature set forth in paragraph 3 hereof or
subparagraphs (a) or (b) of this paragraph any substantial or material portion
of any Commercial is not broadcast, CBS shall discuss with Agency an equitable
adjustment in the price.

     5. CBS and Agency are independent contractors, and any and all contracts
entered into by either of them in the performance of this Agreement, whether
contracts of employment or otherwise, shall be entered into by each of them as
principals (it being understood that Agency is acting as agent for a disclosed
principal), and neither CBS nor Agency shall be nor be deemed to be the agent of
the other in negotiating or entering into any of such contracts. Each of Agency
and Advertiser will individually and jointly be liable for all payments due
under the Agreement.

     6. As among CBS, Agency and Advertiser, CBS will exclusively own all
rights, titles and interests in and to the supervening program material and any
other material furnished by CBS.

     7. CBS shall not be liable for loss of, damage to, or other impairment of
the value of any property furnished by Agency hereunder unless caused by the
demonstrable negligence or intentional act or omission of CBS or its employees.

     8. (a) Payment hereunder includes payment of all station time charges.
However, such payment does not include charges for closed captioning or for any
type of facilities for the rehearsal, production or insertion of Commercials
and/or Billboards.

     (b) If the number of United States television households reachable by all
stations broadcasting a Commercial is less than eighty-five percent (85%) of the
number of United States television households reachable by all stations
scheduled to broadcast the Commercial pursuant to subparagraph 16(a) hereof for
any reason of the nature set forth in paragraph 3 or subparagraph 4(a) or 4(b)
hereof; or otherwise, CBS shall, in a fair and equitable manner, and in
accordance with CBS's policies, allow Agency an appropriate reduction in the
price. With respect to each Commercial, CBS represents that no reduction is
applicable unless CBS has notified Agency to the contrary within sixty (60) days
after the broadcast thereof.

     (c) The payment terms offered in this Agreement are subject to both Agency
and Advertiser meeting and continuing to meet CBS's standards for the extension
of credit.

     (d) All schedule changes including, without limitation, changes pursuant to
subparagraphs 4(a) and 23(a) hereof and all changes in the price will be
reflected in a CBS Supplementary Notice, the posting of which shall constitute
notice hereunder.

     (e) Time of payment hereunder is of the essence. CBS's obligations
hereunder are expressly conditioned upon the full payment of all sums due CBS
under this Agreement and any other agreements(s) between CBS and Advertiser
and/or Agency.

     9. All Commercials and Billboards will conform to the CBS Television
Network Advertising Guidelines as interpreted by the CBS Program Practices
Department. Agency will cooperate with CBS in the broadcasting of Commercial and
Billboard material of the highest possible standards of excellence and for such
purpose Agency will observe the Guidelines and, without limitation, the
following standards in the preparation, writing and broadcast of all oral and/or
visual elements of the Agency Package:

     (i) no false, misleading or unwarranted claims for any product or service;
otherwise;

     (ii) no infringement of any right of any person, firm, or corporation by
means of plagiarism, unfair competition, or

     (iii) no material constituting or relating to a lottery , or to a contest
of any kind in which the public is unfairly treated; treatment;

     (iv) no material which is defamatory, obscene, profane, vulgar, repulsive
or offensive, either in theme or in

     (v) no statement or representation that may be deceptive or misleading to
the public;

     (vi) no deceptive or misleading visual presentation of any product or
service or of its performance characteristics; (vii) no testimonial which cannot
be authenticated and

     (viii) no material or announcement which may, in the opinion of CBS, be
injurious or prejudicial to the interests of the public, CBS and /or its
affiliated stations, or which may be contrary to honest advertising or reputable
business in general.

     10. A waiver by either party of any term or condition of this Agreement in
any instance shall not be deemed or construed as a waiver of such term or
condition for the future, or of any subsequent breach thereof. All remedies,
rights, undertakings, obligations and agreements contained in this Agreement
shall be cumulative and none of them shall be in limitation of any other remedy,
right, undertaking, obligation or agreement of either party.

     Except as otherwise specifically provided herein, all notices hereunder
shall be in writing and shall be given by personal delivery, mail, at the
respective addresses hereinabove set forth, or such other address or addresses
as may be designated by either party. Such notices shall be deemed given when

                                       16
<PAGE>
mailed, except that notice of change of address shall be effective only from the
date of its receipt. Posting by ordinary mail, a CBS Supplementary Notice shall
in all instances constitute Notice to Agency.

     12. This Agreement has been entered into in the State of New York, and the
validity of interpretation and legal effect of this Agreement shall be governed
by the laws of the State of New York applicable to contracts entered into and
performed entirely within the State of New York, with respect to the
determination of any claim, dispute or disagreement which may arise out of the
interpretation, performance or breach of this Agreement.

     13. This Agreement contains the entire understanding of the parties hereto
relating to the subject matter hereof and cannot be changed or terminated
orally, except that the parties hereto may, if they so agree, add or delete
cities from those ordered hereunder by orally amending this Agreement.

     14. The invalidity or unenforceability of any provision of this Agreement
in no way affect the validity or enforceability of any other provision of this
Agreement.

                                   FACILITIES

     15. (a) Subject to CBS's then current policy with respect to the number,
content, placement and length of commercial announcements, each Broadcast Time
Period may be used for advertising the product or service, if any, specified in
the Agreement or any other product or service of Advertiser subject to the
following provisions of this subparagraph. Agency shall as soon as possible
furnish the names of the product(s) and/or service(s) Advertiser desires to
advertise in each Broadcast Time Period. CBS shall advise Agency if any proposed
product or service is deemed unacceptable pursuant to paragraph 9 or
subparagraph 17(c) hereof and if, in light of CBS's then existing sponsorship
commitments, any such product or service is unavailable. Agency's failure to
designate an available product or service at least eight (8) hours prior to the
commencement of the appropriate Broadcast Time Period shall constitute failure
to furnish a Commercial pursuant to subparagraph 17(c) hereof, and in such event
CBS shall have all of the rights specified in the last two (2) sentences of said
subparagraph 17(c).

     (b) CBS may include in the Broadcast Time Period such other material,
public service messages or announcements and/or promotional material all as CBS
shall elect.

     16. (a) Subject to station acceptances, CBS shall cause the Programs and
the Commercials to be broadcast pursuant to all of the provisions of this
Agreement over a station in Bermuda and each city in the United States,
including cities in the territories and possessions of the United States
(excluding Puerto Rico), in which there is a station owned by or affiliated with
CBS, except as may be otherwise agreed pursuant to paragraph 13 hereof. CBS's
obligation to broadcast the Programs in the territories and possessions of the
United States and in Bermuda shall be subject to CBS's having the necessary
broadcasting rights. In addition, CBS, without additional charge to Agency, may
authorize the broadcast of the Programs, Billboards and Commercials over any
so-called translator station or relay system or over any antenna system which
receives and retransmits or redistributes television signals by wire or cable
connection or otherwise to television receiving sets. CBS's obligations pursuant
to this subparagraph with respect to Movie Programs" (as hereinafter defined),
if any, shall not include Bermuda or any United States territory or possession.

     (b) During any period that any station affiliated with the CBS Television
Network (including any station owned by CBS Broadcasting Inc., or a subsidiary
of CBS Corporation.) scheduled to broadcast the Programs and Commercials in any
city does not accept such Programs and Commercials for broadcast, or is
unavailable for the broadcast thereof during the Broadcast Time Period, CBS
shall endeavor to cause the Programs and Commercials to be accepted for
broadcast by a station not affiliated with the CBS Television Network in such
city. If during any such period CBS is:

     (i) unable to make any arrangements satisfactory to CBS to transmit the
Programs and Commercials to any such affiliated or non-affiliated station; or

     (ii) unable to arrange a delayed broadcast schedule for any such affiliated
or non-affiliated station; the broadcast of the Programs and Commercials by any
such affiliated or non-affiliated station shall be suspended and the same shall
not constitute a breach of this Agreement.

     17. (a) Except only as otherwise provided in this Agreement, or in any
other agreement between CBS and Agency concerning the Program(s) or
Commercial(s), Agency shall furnish the Agency Package to CBS.

     (b) At least three (3) weeks prior to the scheduled broadcast date of each
Agency Package, Agency shall deliver to CBS's Program Practices Department a
copy of the script and story board therefor. All filmed or taped Commercial
material forming part of the Agency Package shall be furnished at least two (2)
weeks in advance of the scheduled broadcast date thereof to CBS's Program
Practices Department on 3/4 inch video cassette and to each origination point
specified by CBS pursuant to paragraph 20 hereof. Each Agency Package shall be
furnished pursuant and subject to the then current CBS Television Network
Commercial Integration Manual.

     (c) CBS may refuse to broadcast or may withdraw its approval of any Agency
Package or any element thereof which, in the opinion of CBS's Program Practices
Department, does not maintain an artistic and technical quality creditable to
CBS or fails to conform to CBS's general policies concerning commercials and
billboards or to the regulations set forth in paragraph 9 of this Agreement, or
contains any matter to which the second sentence of paragraph 19 hereof
pertains. In such event or if Agency fails to furnish the Agency Package as
provided in this paragraph 17, CBS may, without prejudice to any other rights
which it may have, require Agency to furnish a substitute Agency Package

                                       17
<PAGE>
acceptable to CBS. If, however, Agency fails to furnish any Commercial or if
Agency fails to edit any Commercial as requested by CBS, or if time does not
permit such editing, CBS may substitute non-commercial material therefor, or if
CBS so elects, and time permits, CBS may substitute commercial material of
another advertiser and reduce the price hereunder by such amount as CBS deems
equitable under the circumstances. lf, pursuant to the immediately preceding
sentence, CBS elects to broadcast non-commercial material, CBS may broadcast
such non-commercial material in accordance with all of the other provisions of
this Agreement (including, but not limited to, paragraph 8 hereof), and CBS may
make such announcements concerning sponsorship as in its judgment may be
required by any statute, rule, or regulation of government or governmental
instrumentality (whether federal, state or local).

     (d) After the broadcast of each Agency Package containing musical
compositions, Agency shall submit to CBS the titles of all such musical
compositions broadcast, the names of the composers, authors and publishers
thereof, the name of the applicable performing rights licensing organization and
the date(s) and time(s) the Agency Package containing the musical composition
was broadcast. Upon receipt of all of the above information, CBS will confirm
that the Agency Package containing the musical composition was so broadcast and
notify the applicable performing rights licensing organization of such
broadcast.

     (e) If Agency so elects, Commercials may be furnished on a closed captioned
basis, but will be acceptable only if such Commercials are closed captioned in
Line 21.

     (f) At Agency's election, Commercials may be furnished with stereophonic
audio. If Agency so elects, such Commercials shall be in conformance with any
technical standards and practices adopted by CBS for programs with stereophonic
audio.

     18. (a) Each broadcast of the Agency Package shall be made by means of
recordings (video tape or film, as designated by CBS), except that if Agency and
CBS agree, all or any portion thereof may be broadcast on a live basis.

     (b) CBS may (at its expense) make such number of recordings of the Programs
and the Agency Package as it deems necessary for delayed broadcast purposes. CBS
shall select the method(s) of making and shall make (or cause to be made) all
such recordings at CBS's expense.

     (c) All rights in recordings of an Agency Package shall be vested in
Agency, except that rights in the physical property of a recording made by CBS
of an Agency Package shall be vested in CBS. Whether or not a recording is
broadcast hereunder, CBS may make and retain a recording of the Program and/or
Agency Package for file and reference purposes.

     19. Agency and Advertiser will conform to the requirements of Section 507
of the federal Communications Act, as amended, concerning broadcast matter and
disclosures required thereunder, insofar as that Section applies to persons
furnishing commercial material for television broadcasting. Agency and
Advertiser warrant and represent that without the prior approval of CBS's
Program Practices Department no Agency Package includes or will include any
matter for which any money, service, or other valuable consideration is directly
or indirectly paid, or promised to, or charged or accepted by Agency or
Advertiser. Agency and Advertiser shall exercise reasonable diligence to inform
their employees, and other persons with whom they deal directly in connection
with any Agency Package, of the requirements of the said Section 507; provided,
however, that no act of any such employee or of any independent contractor
connected with any Agency Package shall constitute a breach of the provisions of
this paragraph unless Agency or Advertiser bas actual notice thereof. As used in
this paragraph the term service or other valuable consideration" shall not
include any service or property furnished without charge or at a nominal charge
for use in, or in connection with, any Agency Package unless it is so furnished
in consideration for an identification in a broadcast of any person, product,
service, trademark, or brand name, beyond an identification which is reasonably
related to the use of such service or property on the broadcast," as such terms
are used in the said Section 507. No inadvertent failure by Agency or Advertiser
to comply with lbis paragraph shall be deemed a breach of this Agreement.

                                    PROGRAMS

     20. The Program shall be broadcast under CBS's sole dire!..1ion and control
and shall originate from such place(s) as CBS shall determine and Agency will
deliver the Program and Commercials to a location or locations as specified by
CBS.

     21. OMITTED.

     22. OMITTED.

     23. (a) CBS shall have the right on notice to Agency to discontinue or at
any time or from time to time to suspend for such period or periods as CBS
elects the broadcasting of any or all of the Programs specified in the Agreement
hereof. In addition, at any time or from time to time CBS shall have the right
on notice to Agency to change the Broadcast Time Period of each such Program
Series to another broadcast time period. In addition, CBS may on notice to
Agency expand or shorten the length of any Program Series. If CBS so expands the
length of any Program Series, the Commercials shall not be broadcast other than
within the original Broadcast Time Period except with Agency's prior approval,
which shall not be unreasonably withheld. Posting, by ordinary mail, of a CBS
Supplementary Notice shall constitute notice hereunder.

     (b) CBS reserves the right to change the Broadcast Time Period and date of
live sports events, other live actuality events such as, but not limited to,
parades, concerts, openings, events of public importance and of documentary or
public affairs Programs, as well as the right, at any time or from time to time,
to change the length of the Broadcast Time Period of any regularly scheduled
hard news" Program. CBS will use reasonable efforts to advise Agency of the

                                       18
<PAGE>
scheduled and/or rescheduled starting time of each such Program. However, with
respect to any live sports .Program, if the time (but not the date) in the
Agreement is shown at TPT (i.e. Time Period Tentative"), CBS will not furnish
Agency a CBS Supplementary Notice li sting the actual time of broadcast.

     24. OMITTED.

     25. OMJTTED.

     26. The additional provisions, paragraphs 27 through 31 set forth below,
are applicable only to the extent set forth herein. (i) Paragmphs 27 and 28 are
applicable to sports Programs generally; and

     (ii) Paragraph 29 is applicable to regional advertisers only.

     27. lt is understood that on occasion blackouts may be required by entities
providing CBS the rights to sporting events hereunder and similarly that
blackouts may be required by virtue of Public Law 87-331, 75 Stat. 732 as
amended by Public Law 89-800, 80 Stat. 1508.

     28. Notwithstanding anything contained in subparagraph 23(b) hereof, if for
any reason the broadcast of a sporting event i s postponed and CBS elects to
broadcast, during a portion of the Broadcast Time Period originally set aside
therefor, a program relating to such sporting event, then, at CBS' option, the
Commercial or one or more of the Commercials originally scheduled to be
broadcast during such sporting event may be broadcast during such program which
shall thereupon be a Program hereunder.

     29. Anything in subparagraph 16(a) hereof to the contrary notwithstanding,
CBS, subject to station acceptances, shall cause the Commercials to be broadcast
(on a regional basis) only in those United States cities designated by Agency in
writing prior to the commencement of the term hereof; provided, however, that
if, for any reason whatsoever, any Commercial is broadcast in any other city,
such broadcast shall not constitute a breach of this Agreement and CBS shall
incur no liability thereby.

                                       19

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