Document:

RADIENT PHARMACEUTICALS CORPORATION

2492 Walnut Avenue, Suite 100

Tustin, CA 92780

 

May 17, 2012

 

VIA FEDERAL EXPRESS AND ELECTRONIC MAIL

 

	To:	Iroquois Master Fund Ltd.
	 	Cranshire Capital, L.P.
	 	Freestone Advantage Partners, LP
	 	Bristol Investment Fund, Ltd.
	 	Kingsbrook Opportunities Master Fund LP
	 	Alpha Capital Anstalt
	 	Whalehaven Capital Fund, Ltd.

 

Ladies and Gentlemen:

 

Reference is made to the following documents
and agreements:

 

(a) the separate exchange agreements dated
June 29. 2011 (the “June 2011 Exchange Agreements”) between each of Iroquois Master Fund Ltd., Cranshire Capital,
L.P., Freestone Advantage Partners, LP, Bristol Investment Fund, Ltd. and Kingsbrook Opportunities Master Fund LP (individually
a “2011 Noteholder” and collectively, the “2011 Noteholders”) and Radient Pharmaceuticals
Corporation (the “Company”);

 

(b) the separate exchange agreements dated
November 28, 2011 with each 2011 Noteholder and the related forms of Note, the Series A Warrant, the Series B Warrant, the Certificates
of Designations of the Company’s Series B Convertible Preferred Stock and Series C Convertible Preferred Stock, all dated
as of November 28, 2011 (collectively, with the June 2011 Exchange Agreements, the “2011 Noteholders Transaction Documents”);

 

(c) the final settlement agreement, dated
as of August 25, 2011 among Alpha Capital Anstadt (“Alpha”), Whalehaven Capital Fund, Ltd. (“Whalehaven”)
and the Company (the “Final Settlement Agreement”); and

 

(d) the separate agreements entered into
on November 28, 2011 between the Company and each of Alpha and Whalehaven (the “Stock Sale Limitation Agreements”
and with the Final Settlement Agreement, the “A&W Transaction Documents”).

 

Unless otherwise defined herein, all capitalized
terms used in this letter shall have the same meaning as is defined in the 2011 Noteholders Transaction Documents and the A&W
Transaction Documents (collectively, the “Transaction Documents”). The 2011 Noteholders and Alpha and Whalehaven
are hereinafter sometimes individually referred to as an “Investor” and collectively, as the “Investors.”

 

Reference is also made to the Company’s
registration statement on Form S-1 filed under the Securities Act of 1933, as amended (the “1933 Act”) and declared
effective by the Securities and Exchange Commission (“SEC”) on February 14, 2012 (the “Registration
Statement”), pursuant to which, inter alia, the Company registered for resale by the 2011 Noteholders an aggregate of
16,000,000 shares of its common stock, $0.001 par value per share (the “Common Stock”) that are issuable upon
exercise of the Company’s Series A warrants (the “Warrants”). Such 16,000,000 shares of Common Stock issuable
at an exercise price of $0.02619 per share (the “Exercise Price”) are hereinafter collectively referred to as
the “Warrant Shares.”

 

    	 

    	 	

    
  

		1.	Exercise of $150,000 of Warrants.

 

(a)As at the date
hereof, the 2011 Noteholders own an aggregate of $9,155,372 principal amount of Notes and stated amount of redeemable convertible
Series B Preferred Stock (collectively, the “2011 Noteholder Debt Equivalent Securities”). Such 2011 Noteholder
Debt Equivalent Securities are owned of record by each of the 2011 Noteholders in the “Pro-Rata Amounts” set
forth in Section 1(c) below.

 

(b)As at the date
hereof, Alpha owns an aggregate of $4,559,842 of Company convertible notes (the “Alpha Notes”) and Whalehaven
owns an aggregate of $3,496,416 of Company convertible notes (the “Whalehaven Notes” and with the Alpha Notes,
the “A&W Notes”). Accordingly, as between them, Alpha is the owner of 56.6% of the A&W Notes and Whalehaven
is the owner of 43.4% of the A&W Notes.

 

(c)Promptly following
the execution and delivery of this Agreement, each of the 2011 Noteholders shall assign to Alpha an aggregate of 1,517,182 Warrants,
and shall assign to Whalehaven an aggregate of 1,163,230 Warrants (collectively, the Assigned Warrants”). Such assignments
shall, as among the 2011 Noteholders, be in proportion to their respective Pro-Rata Amounts of the 5,727,376 “Subject Warrants”
set forth below and shall be deemed to have occurred upon execution and delivery of this Agreement.

 

	Name of 2011 Noteholder	Pro-Rata Amount	# of Assigned Warrants
	 	 	 
	Iroquois Master Fund Ltd. 	   20%	    536,083
	Cranshire Capital, L.P.	   11%	    294,845
	Freestone Advantage Partners, LP	     2%	      53,608
	Bristol Investment Fund, Ltd.	   32%	    857,732
	Kingsbrook Opportunities Master Fund LP	   35%	   938,144
	Total	 100%	2,680,412

 

(d)Subject at all
times to the terms and conditions set forth herein each of the Investors hereby severally (and not jointly and severally) agrees
to exercise for cash at the Exercise Price its respective “Pro-Rata Amount” of the Warrants, but only to the extent
of an aggregate of 5,727,376 Warrants (the “Subject Warrants”), so that, upon issuance of the 5,727,376 Warrant
Shares underlying the Subject Warrants, the Company shall receive net cash proceeds from the Investors of $150,000 (the “Warrant
Proceeds”).

 

(e)As used herein,
the term “Pro-Rata Amount” means, that percentage and number of the Subject Warrants to be exercised by each
Investor and the number of Warrant Shares to be purchased by each Investor, as shall be determined by (i) the amount by which the
principal and stated amount of 2011 Noteholder Debt Equivalent Securities and the principal amount of the Alpha Note and Whalehaven
Note owned of record by each Investor, bears to (ii) the aggregate principal and stated amount of 2011 Noteholder Debt Equivalent
Securities and the principal amount of the Alpha Note and Whalehaven Note owned of record by all Investors.

 

    	 

    	 	

    

 

The Pro-Rata Amount
of all Subject Warrants allocable to all Investors is set forth below:

 

	Name of 2011 Noteholder	 	Pro-Rata Amount	 	 	# of Warrants	 	 	Amount	 
	 	 	 	 	 	 	 	 	 	 
	Iroquois Master Fund Ltd.	 	 	9.91	%	 	 	567,583	 	 	$	14,867.02	 
	Cranshire Capital, L.P.	 	 	5.82	%	 	 	333,333	 	 	$	8,828.19	 
	Freestone Advantage Partners, LP	 	 	0.94	%	 	 	53,837	 	 	$	1,412.27	 
	Bristol Investment Fund, Ltd.	 	 	17.38	%	 	 	995,418	 	 	$	26,064.86	 
	Kingsbrook Opportunities Master Fund LP	 	 	19.15	%	 	 	1,096,793	 	 	$	28,718.08	 
	Alpha Capital Anstadt	 	 	26.49	%	 	 	1,517,182	 	 	$	39,739.19	 
	Whalehaven Capital Fund Ltd.	 	 	20.31	%	 	 	1,163,230	 	 	$	30,471.40	 
	Totals	 	 	100.00	%	 	 	5,727,376	 	 	$	150,000.00	 

 

The foregoing Warrants shall be deemed
to have been exercised by each Investor as per the above schedule, after execution and delivery of this Agreement by all Investors
and receipt of funds to the attorney’s IOLA escrow account of Hunter Taubman Weiss LLP (“HTW”), as set
forth on Schedule A, from all Investors (“Disbursement Conditions”), and the Company shall, not
later than ten (10) days after receipt of the Warrant Proceeds into the IOLA escrow account of HTW, cause stock certificates evidencing
the number of Warrant Shares reflected in the above Schedule to be duly issued to each of the Investors set forth above. Until
the filing and effectiveness of the post-effective amendment to the Registration Statement set forth in Section 1(f) below, the
Warrant Shares shall be deemed to be restricted securities and shall contain an appropriate legend; provided, that not later than
three (3) Business Days following the effectiveness of the said post-effective amendment to the Registration Statement, the Company
shall cause its counsel to deliver an appropriate legal opinion(s) to the Company transfer agent to enable such restrictive legend
to be removed from such Warrant Shares certificate.

 

(f)   The Company
shall promptly file a Form 8-K Current Report with respect to this Agreement. In addition, promptly following the filing of Form
10-K 2011 Annual Report and Form 10-Q Quarterly Report for the quarter ended March 31, 2012, the Company shall file a post-effective
amendment to the Registration Statement, which shall, inter alia, list each of Alpha and Whalehaven as selling stockholders, as
their respective interests in the Warrant Shares may appear.

 

		2.	Purpose and Use of Warrant Proceeds.

 

(a)   The Warrant
Proceeds shall be used by the Company solely and exclusively for the purpose of enabling the Company to keep the Registration Statement
current and maintain compliant in its reporting requirements under the Securities Exchange Act of 1934, as amended (the “1934
Act”), and for no other purposes whatsoever.

 

(b)   In furtherance
of the foregoing, the Warrant Proceeds shall be wired by the Investors to the attorney’s IOLA escrow account of HTW and;
provided further, that execution of this Agreement by all Investors and receipt of Warrant Proceeds from all Investors shall constitute
authorization to HTW to make the following payments from its IOLA escrow account without further authorization from any of the
parties hereto.

 

    	 

    	 	

    
 

(i)   $95,000
shall be paid to KMJ Corbin, LLP, the auditors for the Company (the “Auditor”), as compensation to the Auditor
to enable it to (A) complete the audit of the 2011 annual financial statements of the Company to be included in the Company’s
2011 Annual Report filing on Form 10-K, which shall be filed on or before June 30, 2012, and (B) review the quarterly financial
statements of the Company to be included in its quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2012, which
shall be filed on or before July 15, 2012. In such connection, if requested by any one or more of the Investors, the Company and
the Auditor shall enter into an engagement and work scope letter agreement consistent with the foregoing and in form and content
reasonably satisfactory to the 2011 Noteholders (the “Work Scope Agreement”), which Scope Agreement shall, inter
alia, include the Auditor’s agreement to consent to the filing of their reports in the Form 10-K and in connection
with all previous historical financial statements reviewed or audited by them which the Company may be required or to elect to
file under the 1933 Act or the 1934 Act. HTW shall promptly, after satisfaction of the Disbursement Conditions, wire $95,000 of
the Warrant Proceeds directly to the Auditor on behalf of the Company.

 

(ii)   $15,000
to pay legal fees to HTW in connection with their drafting and/or review of the Company’s 2011 Annual Report filing on Form
10-K, and review of the Company’s quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2012;

 

(iii)   $2,632.43
to pay past due fees of Corporate Stock Transfer Company (“CST”), the Company’s transfer agent. Additionally,
the Company shall pay CST an additional $4,000 advance payment for future transfer services, which shall serve as a pre-payment
for four months of transfer services and entitle the Company to up to 50 transactions per month with CST. The Investors hereby
agree that each of them shall be entitled to their pro-rata percentage of such 50 transactions, based on the pro-rata amounts set
forth in paragraph 2(e) above and as set forth on Schedule D hereto, and shall thereafter each be individually responsible
for payment toward additional transactions with CST at a rate of $35 per transaction; and

 

(iv)   The
balance to be used to pay certain accrued designated fees and accounts payable owed by the Company to (x) Vintage Filings that
edgarize and file reports and forms for the Company under the 33 Act and 34 Act, and (y) such other miscellaneous obligations and
accounts as set forth on Schedule B annexed hereto.

 

		3.	Termination of Limitations on Sale.

 

(a)   The
Company hereby covenants and agrees that (i) all of the provisions set forth in Section 30 of the Notes issued to the 2011 Noteholders
and all related limitations, if any, on sales of Common Stock set forth in the Series A Warrant, the Series B Warrant and the Certificate
of Designations applicable to the Series B Preferred Stock, limiting the amount, timing and number or percentage of shares of Common
Stock of the Company that can be sold by such 2011 Noteholders, and (ii) all of the provisions of the Stock Sale Limitation Agreements
with Alpha and Whalehaven, are each hereby terminated and without any further force or effect.

 

(b)The
parties to this Agreement do hereby acknowledge and agree that nothing contained in Section 3(a) above shall, in any manner, be
deemed to amend or terminate the “blocker” provisions of the relevant Transaction Documents, all of which shall, as
to each individual Investor, remain in full force and effect.

 

 

    	 

    	 	

    
 

(c)For
the avoidance of doubt, the Company and Alpha and the Company and Whalehaven, each respectively, agree that in no event shall Alpha
or Whalehaven be entitled to exercise any portion of the Warrants in excess of that portion of the Warrants upon exercise of which
would result in beneficial ownership by either Alpha or Whalehaven, individually, of more than 9.9% of the outstanding shares of
Common Stock except that the terms “Maximum Percentage” and “Beneficial Ownership Limitation”
as employed in the A&W Transaction Documents shall mean 9.99%.

 

4.        
   Covenant with Respect to Voluntary Bankruptcy. By its execution of this Agreement, the Company hereby covenants
and agrees with each of the Investors that, subject only to the continuation of their forbearance agreements and the Forbearance
Period remaining in force, as set forth in Section 5 below, following the date of this Agreement and through and including 5:00
p.m. (EDT) on August 31, 2012, the Company shall not file in any U.S. Bankruptcy Court a voluntary petition for reorganization
under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Act”) or seek to liquidate under Chapter
7 of the Bankruptcy Act. The Company shall deliver to each of the Investors the unanimous written consent of the board of directors
of the Company to this Agreement, which shall also include an express affirmation of the covenant contained in this Section 4.

 

		5.	Forbearance Agreement.

 

(a)The parties
hereto acknowledge that on various occasions between March 26 2012 and March 29 2012, all of the 2011 Noteholders, other than Bristol
Investment Fund, Ltd., served the Company with (i) an Event of Default Redemption Notice in respect of the Company’s Note
held by such 2011 Noteholder, (ii) a Notice of Redemption of the Company’s Series B Preferred Stock held by such 2011 Noteholder,
(iii) a Notice of Redemption of the Company’s Series C Preferred Stock held by such 2011 Noteholder, and (iv) a notice of
claims against the current and former directors and officers of the Company under the Company’s insurance policies (collectively,
the “Default Notices”).In addition, the existence of the Default Notices may also constitute a default by
the Company of certain of its obligations under the A&W Transaction Documents.

 

(b)In order to
(i) facilitate the filing of the Company’s Form 10-K and Form 10-Q, as contemplated hereby, (ii) clarify the legal position
of the Investors who may be converting or exercising Company securities into Common Stock or selling such Common Stock, and (iii)
provide such material information to the investing public, the Company hereby requests that each Investor forebear from taking
any legal action in respect of the Default Notices.

 

(c)Accordingly,
by their execution of this agreement, each of the undersigned Investors do hereby severally (and not jointly and severally) covenant
and agree to forebear from exercising any of their rights and remedies, whether at law or in equity, against the Company and its
current and former directors and officers under the Transaction Documents or otherwise, for a period (the “Forbearance
Period”) which shall not to exceed the earlier to occur of (i) August 31, 2012, or (ii) a breach by the
Company or any of its agents of any of the Company’s other covenants and agreements contained in the Transaction Documents
and in this Agreement, including, without limitation, its commitment to issue stock certificates, make the payments contemplated
by this Agreement and file with the SEC its 2011 Form 10-K and March 31, 2012 Form 10-Q as soon as practicable following the date
hereof.

 

    	 

    	 	

    
 

(d)Nothing contained
in this Section 5 shall constitute any agreement, express or implied, by any Investor to provide any further or additional forbearance
from exercise of its or their legal rights and remedies against the Company or its current or former officers and directors; provided,
however, that in the absence of a further breach of the terms of this Agreement or any of the other Transaction Documents, each
of the Default Notices shall be deemed to be withdrawn ab initio upon execution of this Agreement. Except as expressly amended
and modified by this Agreement, all of the other terms and conditions of the Transaction Documents shall remain in full force and
effect and are hereby deemed by this reference to be incorporated in this Agreement.

 

		6.	Miscellaneous.

 

(a)The Company
has advised the Investors that it is currently indebted to Hunter Taubman Weiss LLP (“HTW”), counsel to the
Company, in the amount of approximately $300,000 for accrued and unpaid legal fees relating to corporate, securities and litigation
services previously rendered. The Company also desires to continue to retain the services of such attorneys to handle certain corporate,
securities and litigation matters for the Company which are or may be in addition to matters relating to the preparation and filing
of its 2011 Form 10-K Annual Report, Form 10-Q Quarterly Report for the quarter ended March 31, 2012 and Form 8-K Interim Report.
The Company has requested and HTW has agreed to accept from the Company, as an account stated, a $300,000 unsecured convertible
4% Company note payable on April 30, 2015 (the “HTW Note”), which shall (i) accrue interest at the annual rate
of 4% per annum, (ii) be convertible into Company Common Stock at a fixed conversion price of $0.01 per share, (iii) be subject
to prepayment at the option of the Company, (iv) contain full ratchet and other customary anti-dilution protection, and (v) not
be subject to any mandatory installment or other mandatory prepayment provisions prior to the April 30, 2015 maturity date.

 

(b)By their execution
of this Agreement, each Investor agrees to the issuance of the HTW Note and further agrees that the issuance of such HTW Note shall
not trigger an adjustment in the exercise price or conversion price of any Company securities issued to the Investors under the
Transaction Documents.

 

(c)The obligations
of the Investors hereunder and under the other Transaction Documents are several and not joint with the obligations of any other
Investor, and the Investor shall not be responsible in any way for the performance of the obligations of any other Investor hereunder
or with regard to the Transaction Documents. Nothing contained herein or in any of the other Transaction Documents, and no action
taken by the Investor pursuant hereto or pursuant to any other Transaction Document, shall be deemed to constitute the Investor
as, and the Company acknowledges that the Investors do not so constitute, a partnership, an association, a joint venture or any
other kind of group or entity, or create a presumption that the Investors are in any way acting in concert or as a group or entity
with respect to such obligations or the transactions contemplated herein, by the Transaction Documents or any matters, and the
Company acknowledges that the Investors are not acting in concert or as a group or entity, and the Company shall not assert any
such claim, with respect to such obligations or the transactions contemplated herein, by the Transaction Documents or any other
similar agreement. The decision of the Investor to enter into this Agreement has been made by the Investor independently of any
other Investors. The Company and the Investor confirm that the Investor has independently participated with the Company in the
negotiation of the transaction contemplated hereby with the advice of its own counsel and advisors. The Investor acknowledges that
no other Investor has acted as agent for the Investor in connection with the Investor’s transfer or exercise of the Warrants,
as contemplated herein. The Investor shall be entitled to independently protect and enforce its rights, including, without limitation,
the rights arising out of this Agreement or out of any other Transaction Documents, and it shall not be necessary for any other
Investor or other party to be joined as an additional party in any proceeding for such purpose. To the extent that any Investor
enters into an agreement with the same or similar terms and conditions or pursuant to the same or similar documents, all such matters
are solely in the control of the Company, not the action or decision of the Investor, and would be solely for the convenience of
the Company and not because it was required or requested by the Investor. The Company further acknowledges and agrees that the
Investor is acting solely in the capacity of an arm’s length party with respect to the Transaction Documents and the transactions
contemplated by this Agreement and that the Investor is not and has not been an “affiliate” (as defined in
Rule 144 promulgated by the SEC under the 1933 Act) of the Company or any of its Subsidiaries (including, without limitation, as
a result of the acquisition or holding of any of the Securities or otherwise).

 

    	 

    	 	

    
 

(d)This Agreement,
the other Transaction Documents and the schedules and exhibits attached hereto and thereto and the instruments referenced herein
and therein supersede all other prior oral or written agreements between the Investor, the Company, its Subsidiaries, their affiliates
and persons acting on their behalf solely with respect to the matters contained herein and therein, and this Agreement, the other
Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced herein and therein
contain the entire understanding of the parties solely with respect to the matters covered herein and therein; provided, however,
nothing contained in this Agreement or any other Transaction Document shall (or shall be deemed to), except as expressly set forth
herein, (i) have any effect on any agreements (including, without limitation, the Initial Exchange Agreement) the Investor has
entered into with, or any instruments the Investor has received from, the Company or any of its Subsidiaries prior to the date
hereof with respect to any prior investment made by the Investor in the Company or (ii) waive, alter, modify or amend in any respect
any obligations of the Company or any of its Subsidiaries, or any rights of or benefits to the Investor or any other Person, in
any agreement entered into prior to the date hereof between or among the Company and/or any of its Subsidiaries and the Investor,
or any instruments the Investor received from the Company and/or any of its Subsidiaries prior to the date hereof, and all such
agreements and instruments shall continue in full force and effect. Except as specifically set forth herein or in the other Transaction
Documents, neither the Company nor the Investor makes any representation, warranty, covenant or undertaking with respect to the
matters contained herein of therein. The parties hereto acknowledge that no other party, or agent, representative or attorney of
any other party, has made any promise, representation, or warranty whatsoever, express or implied, not contained in this Agreement
concerning the subject matter hereof, to induce this Agreement or otherwise, and the parties acknowledge that they have not executed
this Agreement in reliance upon such promise, representation, or warranty not contained herein. For clarification purposes, the
Recitals are part of this Agreement.

 

(e)All questions
concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws
of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State
of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State
of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The
City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Investor from bringing
suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to
the Investor or to enforce a judgment or other court ruling in favor of the Investor. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

 

    	 

    	 	

    
 

(f)Any notices,
consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing
and will be deemed to have been delivered: (i) upon receipt, if delivered personally; (ii) when sent, if sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); (iii) when sent,
if sent by e-mail (provided that such sent e-mail is kept on file (whether electronically or otherwise) by the sending party and
the sending party does not receive an automatically generated message from the recipient’s e-mail server that such e-mail
could not be delivered to such recipient) and (iv) if sent by overnight courier service, one (1) Business Day after deposit with
an overnight courier service with next day delivery specified, in each case, properly addressed to the party to receive the same.
The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

If to the Company:

 

Radient Pharmaceuticals Corporation

2492 Walnut Avenue, Suite 100

Tustin, California 92780-7039

Facsimile: (714) 505-4464

E-mail: dmaclellan@radient-pharma.com

Attention: Chief Executive Officer

 

With a copy (for informational
purposes only) to:

 

Hunter Taubman Weiss, LLP

17 State Street, Suite 2000

New York, New York 10004

Facsimile: (212) 202-6380

E-mail: ltaubman@htwlaw.com

             rschmierer@htwlaw.com

Attention: Louis E. Taubman, Esq.

                    Rachael Schmierer, Esq.

 

 

If to the Investor:

 

To the address set forth on Schedule C

 

    	 

    	 	

    
 

or to such other address, facsimile number
or e-mail address and/or to the attention of such other person as the recipient party has specified by written notice given to
each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile
machine containing the time, date and recipient facsimile number or (C) provided by an overnight courier service shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance with clause (i),
(ii) or (iv) above, respectively. A copy of the e-mail transmission containing the time, date and recipient e-mail address shall
be rebuttable evidence of receipt by e-mail in accordance with clause (iii) above.

 

(g)This Agreement
may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other parties. In the event that any signature is delivered
by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page,
such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such signature page were an original thereof.

 

(h)The headings
of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.
Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter,
singular and plural forms thereof. The terms “including,” “includes,” “include” and words of
like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,”
“hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision
in which they are found.

 

(i)If any provision
of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction,
the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent
that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity
of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change,
the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good
faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which
comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

(j)This Agreement
shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. No party may
assign this Agreement or any rights or obligations hereunder without the prior written consent of the other parties hereto, provided
that the Investor may assign some or all of its rights hereunder in connection with any transfer of any of its Securities without
the consent of the other parties hereto, in which event such assignee shall be deemed to be a “Investor” hereunder
with respect to such assigned rights. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. No provision
of this Agreement may be amended other than by an instrument in writing signed by the parties hereto. No waiver shall be effective
unless it is in writing and signed by an authorized representative of the waiving party.

 

    	 

    	 	

    
 

(k)Each party shall
do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(l)Except as otherwise
set forth herein or in the Transaction Documents, each party to this Agreement shall bear its own expenses in connection with the
execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement and the other
Transaction Documents.

 

(m)The representations,
warranties, agreements and covenants shall survive the execution and delivery of this Agreement and the consummation of the transactions
contemplated by this Agreement and the other Transaction Documents.

 

(n)The language
used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of
strict construction will be applied against any party. No specific representation or warranty shall limit the generality or applicability
of a more general representation or warranty.

 

 

If the foregoing accurately reflects our
mutual agreement and understanding, please so indicate by executing and delivering to the Company a counterpart of this Agreement
by electronic mail to dmaclellan@radient-pharma.com, with a copy to ltaubman@htwlaw.com.

 

 

We thank you for your anticipated cooperation
and support.

 

Very truly yours,

 

RADIENT PHARMACEUTICALS CORPORATION

 

 

By:  /s/ Douglas MacLellan                                               

              Douglas
MacLellan, President and CEO

 

ACCEPTED AND AGREED TO THIS  17th DAY
OF MAY 2012

 

Iroquois Master Fund Ltd.

 

By: /s/ Iroquois Master Fund Ltd.                                   

 

Cranshire Capital, L.P.

 

By: /s/ Cranshire Capital, L.P.                                          

 

Freestone Advantage Partners, LP

 

By: /s/ Freestone Advantage Partners,
LP                    

 

 

    	 

    	 	

    
 

 

Bristol Investment Fund, Ltd.

 

By: /s/ Bristol Investment Fund, Ltd.                         

 

 

Kingsbrook Opportunities Master Fund
LP

 

By: /s/ Kingsbrook Opportunities Master
Fund LP

 

Alpha Capital Anstalt

 

By: /s/ Alpha Capital Anstalt                                     

 

Whalehaven Capital Fund, Ltd.

 

By: /s/ Whalehaven Capital Fund, Ltd.EMPLOYMENT
AGREEMENT (this “Agreement”) is entered into as of May 15, 2012 (the “Effective Date”),
by and between Investview, Inc., a Nevada corporation (the “Company”) at 1244
South Business Park Drive, Suite 240, Draper, Utah 84020 and John R. MacDonald (“Executive”, and together with
the Company, the “Parties”) at 38 River Avenue, Monmouth Beach. NJ 07750.

 

W I T N E S S E T H :

 

WHEREAS, the Company
desires to employ Executive, and Executive desires to be employed by the Company, on the terms and conditions set forth in this
Agreement.

 

NOW, THEREFORE, in consideration
of the premises and the respective covenants and agreements of the Parties set forth below, and intending to be legally bound hereby,
the Parties agree as follows:

 

Section 1.       Term.
Executive’s employment hereunder shall commence as of the Effective Date, and subject to earlier termination in accordance
with the terms of Section 8 hereof, shall terminate on the second anniversary of the Effective Date (the “Term”);
provided that the Term shall automatically be extended for successive two (2) year periods unless, prior to the 90th
calendar day preceding the expiration of the then existing Term, either Company or Executive provides written notice to the other
that it elects not to renew the Term. Upon delivery of such notice, this Agreement shall continue until expiration of the Term,
whereupon this Agreement shall terminate and neither party shall have any further obligations thereafter arising under this Agreement,
except as explicitly set forth herein.

 

Section 2.       Position;
Duties; Principal Place of Business.

 

(a)       During
the Term, Executive (i) will be employed by the Company as its President and Chief Financial Officer, (ii) will have all authorities,
duties and responsibilities customarily exercised by an individual serving in those positions in enterprises of a similar size
and structure, (iii) shall be assigned no authorities, duties or responsibilities that are inconsistent with, or that impair his
ability to discharge, the foregoing authorities, duties and responsibilities, and (iv) shall report directly to the Chief Executive
Officer of the Company (the “CEO”).

 

(b)       During
the Term and except as otherwise agreed to in writing by the Company, Executive shall devote Executive’s full employable
time, attention and best efforts to the business affairs of the Company (except during vacations or illness). Notwithstanding the
foregoing, Executive shall be entitled to devote a reasonable amount of time to civic and community affairs and the management
of his personal investments so long as these other activities do not interfere with the performance of Executive’s duties
hereunder.

 

(c)       Executive’s
principal place of business shall be located in an office of the Company in Red Bank, New Jersey. Executive agrees to travel on
behalf of the Company as reasonably necessary to perform his duties under this Agreement, including to the Company’s offices
in Draper, Utah, to which Executive acknowledges he may be required to travel on a regular basis. The Company will reimburse Executive
in accordance with Section 6 below for all reasonable and necessary costs in connection with such travel.

 

    	 

    	 

    

 

Section 3.       Base
Salary. During the Term, Executive shall receive an annual base salary (the “Base Salary”) of $200,000
payable in regular installments in accordance with the Company’s usual payroll practices. Payment of the Base Salary to the
Executive shall commence no later than 90 days from the Effective Date, or if earlier, as soon as the CEO determines that the Company
is financially capable initiating the payment of the Base Salary, at which time Executive shall be paid all Base Salary earned
for the period commencing on the Effective Date through the payment. All salary earned from the starting data of employment shall
be accrued on the Company’s books. The Base Salary shall be reviewed annually and shall be increased (but not reduced) based
on performance criteria to be agreed upon between the CEO and the Executive at the beginning of each operating year during the
Term. Upon achievement of annual performance metrics, as agreed between the CEO and the Executive and approved by the Compensation
Committee of the Board of Directors, the Base Salary will increase to $300,000 commencing with the beginning of the second year
of the Term. Executive’s position is exempt and Executive will not be eligible for overtime pay.

 

Section
4.       Annual Bonus. During the Term, Executive will be eligible to receive a performance-based
annual bonus (“Annual Bonus”) with a target amount of no less that 50% of Executive’s Base Salary for
the relevant year based upon performance criteria to be agreed upon between the CEO and the Executive and approved by the
Compensation Committee of the Board of Directors at the beginning of each fiscal year of the Company subject to executive’s
continued employment through the last day of such year. Subject to Section 11(c) hereof, the Annual Bonus will paid no later than
the first pay period following the fiscal year-end earnings call covering the year in which the Annual Bonus was earned.

 

Section 5.       Equity
Compensation 

 

(a)       Upon
execution of the employment letter dated May 15, 2012, Executive was granted an award of Two Hundred Fifty Thousand (250,000)
restricted stock units (“RSUs”) in respect of shares of common stock of the Company (“Common Stock”)
that will vest as follows subject to the continuing employment of Executive on the vesting date or as otherwise
provided in Section 8 hereof: (a) fifty percent of the RSUs, or One Hundred Twenty Five Thousand (125,000) shares of Common Stock,
will vest on the first anniversary of the Effective Date and (b) the balance of the RSUs, or One Hundred Twenty Five Thousand (125,000)
shares of Common Stock, will vest quarterly or with respect to Thirty One Thousand two Hundred and Fifty (31,250) shares of Common
Stock on each of (i) June 30, 2013, (ii) September 30, 2013, (iii) December 31, 2013 and (iv) March 31, 2014.

 

(b)       In
respect of vested RSUs will delivered upon the earliest of the Executive’s (i) death, (ii) Disability, (iv) termination of
employment (unless such termination is for Cause), (iv) a change in control event (within the meaning of Internal Revenue Code
Regulations Section 1.409A-3(i)(5)) or (v) the second anniversary of the Effective Date. The employee will have the option of satisfying
applicable withholding taxes arising in connection with the RSUs by (i) directing the Company to withhold the necessary amount
of shares of Common Stock or (ii) paying to the Company the amount of any such withholding taxes or (iii) a combination of the
foregoing.

 

    	2

    	 

    

 

Section 6.       Expenses.
The Company shall reimburse Executive for the ordinary, necessary and reasonable business expenses incurred by him in the performance
of his duties hereunder; provided, that such expenses are incurred and accounted for in accordance with the Company’s written
policies and procedures including proper documentation and approval. All such expenses shall be reimbursed in a timely manner consistent
with the Company’s policies and procedures. Any such reimbursement shall take place no later than March 15 of the calendar
year that immediately follows the calendar year in which the expense was incurred.

 

Section 7.       Benefits.

 

(a)       During
the Term, Executive shall be entitled to participate in all medical and other employee benefit plans, including vacation, sick
leave, life insurance, retirement accounts, vacation and holiday allowances and other employee benefits provided by Company to
similarly situated employees on terms and conditions no less favorable than those offered to such employees (and no less favorable
to Executive than similar plans offered by Company to its executive management). Such participation shall be subject to the terms
of the applicable plan documents and the Company’s generally applicable policies.

 

(b)       Vacations.
During the Term, Executive shall be entitled to fifteen (15) paid vacation days during each calendar year hereunder.

 

Section
8.       Termination of Employment.        Either
Party may terminate Executive’s employment hereunder for any reason upon thirty days advance written notice or as otherwise
provided under the provisions of this Section 8. In the event that the Executive’s employment is terminated for any
reason, the Executive will be entitled to payment of (a) accrued but unpaid base salary, employee benefits and reimbursement of
business expenses through the termination date, (b) any prior year’s Annual Bonus earned but unpaid prior to the termination
date and (c) any vested RSUs (collectively, the “Accrued Amounts”).

 

(a)       Death.

 

(i)       The
Term and Executive’s employment hereunder shall automatically terminate upon Executive’s death.

 

(ii)       Upon
the termination of the Term and Executive’s employment hereunder pursuant to this Section 8(a), Executive’s estate
shall be entitled to the Accrued Amounts, and any unvested Company equity awards, including the RSUs, shall fully vest. All other
benefits, if any, due to Executive’s estate following Executive’s termination due to death shall be determined in accordance
with the plans, policies and practices of the Company; provided, that Executive (or his estate, as the case may be) shall
not participate in any severance plan, policy or program of the Company. Executive’s estate shall not accrue any additional
compensation (including any Base Salary or annual bonus) or other benefits under this Agreement following such termination of employment,
except for any benefits to which Executive (or his estate) is entitled pursuant to the terms of the employee benefit plans of the
Company in which Executive is participating immediately prior to such termination.

 

(b)       Disability.

 

    	3

    	 

    

 

(i)       At
any time during the Term, the Company may terminate the Term and Executive’s employment hereunder due to Executive’s
Disability (as defined below). “Disability” means Executive becoming disabled during the Term by reason of any
illness, injury, accident or condition of either a physical or psychological nature and, as a result, in unable to perform substantially
all of his duties and responsibilities after reasonable accommodation, as may be required by applicable law, for any period of
one hundred eighty (180) consecutive calendar days.

 

(ii)       Upon
the termination of the Term and Executive’s employment hereunder pursuant to this Section 8(b), Executive shall be entitled
to receive the Accrued Amounts, and any unvested Company equity awards, including the RSUs, shall fully vest . Executive shall
not accrue any additional compensation (including any Base Salary or annual bonus) or other benefits under this Agreement following
such termination of employment. All other benefits, if any, due to Executive following the expiration of the Term pursuant to this
Section 8(b) shall be determined in accordance with the plans, policies and practices of the Company; provided, that Executive
shall not participate in any severance plan, policy or program of the Company.

 

(c)       Termination
for Cause; Voluntary Termination.

 

(i)       At
any time during the Term, (A) the Company may terminate the Term and Executive’s employment hereunder for “Cause”
(as defined below) by written notice specifying the grounds for Cause in reasonable detail, and (B)  Executive may terminate
the Term and Executive’s employment hereunder “voluntarily” (that is, other
than by death or disability in accordance with Section 8(a) or 8(b) or due to Good Reason in accordance with Section 8(d)).

 

(ii)       For
purposes of this Agreement, “Cause” shall mean: (a) a conviction of or plea of guilty or nolo contendere
by Employee to a felony, or any crime involving fraud or embezzlement; (b) the refusal by Employee to perform his material
duties and obligations hereunder; (c) Employee’s willful and intentional misconduct in the performance of his material duties
and obligations; or (d) Employee or any member of his family makes any personal profit arising out of or in connection with a transaction
to which Company is a party or with which it is associated (other than the sale of Company capital stock by Employee or his family
member) without making disclosure to, and obtaining the prior written consent of, the Company. For purposes of this Agreement,
“family” shall mean Employee’s spouse and/or un-emancipated children. The written notice given hereunder by Company
to Employee shall specify in reasonable detail the cause for termination. In the case of a termination described in clauses (a)
and (d) above, such termination shall be effective upon receipt of the written notice. In the case of a termination described in
clauses (b) and (c) above, such termination notice shall not be effective until thirty (30) days after Employee’s receipt
of such notice, during which time Employee shall have the right to respond to Company’s notice, to be heard before the Board
and to cure the breach or other event giving rise to the termination, and no termination for Cause shall be effective unless Employee
fails to cure the breach within such period.

 

(iii)       Upon
the termination of the Term and Executive’s employment hereunder pursuant to this Section
8(c) by the Company for Cause, or by the Executive voluntarily, Executive shall be entitled to receive the Accrued Amounts. Executive
shall not accrue any additional compensation (including any Base Salary or annual bonus) or other benefits under this Agreement
following such termination of employment. All other benefits, if any, due to Executive following Executive’s termination
of employment for Cause or due to Executive’s voluntary termination pursuant to this Section 8(c) shall be determined in
accordance with the plans, policies and practices of the Company; provided, that Executive shall not participate in any
severance plan, policy or program of the Company.

 

    	4

    	 

    

 

(d)       Termination
without Cause; for Good Reason.

 

(i)       At
any time during the Term, the Company may terminate the Term and Executive’s employment hereunder without Cause and Executive
may terminate the Term and his employment for Good Reason.

 

(ii)       Upon
the termination of Executive’s employment pursuant to this Section 8(d), Executive shall receive (A) the Accrued
Amounts, (B) any unvested Company equity awards, including the RSUs, shall fully vest and (C) Executive shall receive a lump sum
severance payment within fifteen (15) days following the termination date in an amount equal to the greater of (i) Executive’s
Base Salary for the balance of the Term or (ii) six (6) months’ Base Salary, in each case at the rate in effect immediately
prior to such termination and iii) benefits for the same term related to the base salary period. All
other benefits, if any, due Executive following a termination pursuant to this Section 8(d) shall be determined in accordance with
the plans, policies and practices of the Company; provided, that Executive shall not participate in any severance plan,
policy or program of the Company. Executive shall not accrue any additional compensation (including
any Base Salary or annual bonus) or other benefits under this Agreement following such expiration of the Term.

 

(iii)       “Good
Reason” shall mean any of the following events occurs that are not cured by the Company within thirty (30) days of written
notice specifying the occurrence such Good Reason event, which notice shall be given by Executive to the Company within ninety
(90) days after the occurrence of the Good Reason event : (A) any reduction in Executive’s then-current Salary; (B) any material
failure by the Company to timely grant, or timely honor, any equity or long-term incentive award; (C) any failure by the Company
to pay or provide required Salary, Equity Compensation or any bonus or incentive compensation and benefits as required herein;
(D) a material diminution in Employee’s title, duties, responsibility or authority; (E) the failure of the Company to obtain
the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets
of Company or upon a merger, consolidation, sale or similar transaction of Company; (F) the voluntary or involuntary dissolution
of Company, the filing of a petition in bankruptcy by Company or upon an assignment for the benefit of creditors of the assets
of Company; (G) a material diminution in Employee’s title, duties, responsibility or authority; any requirement that Executive’s
principal place of business be relocated such that he reasonably cannot maintain his primary residence at the address set forth
in Section 13(d) hereof or (H) a material breach of the provisions of this Agreement by the Company.

 

 

    	5

    	 

    

 

(e)       Notice
of Termination. Any purported termination of employment by the Company or Executive during the Term (other than pursuant
to Section 8(a)) shall be communicated by a written Notice of Termination to Executive or the Company, respectively, delivered
in accordance with Section 13(d) hereof. For purposes of this Agreement, a “Notice of Termination” shall
mean a notice which shall indicate the specific termination provision in the Agreement relied upon, the termination date, and shall
set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of employment under the provision
so indicated.

 

(f)       No
Mitigation; No Off-Set.  Executive will not be required to seek other employment or attempt to reduce any payments due
to Executive under this Section 8, and any compensation (in whatever form) earned by Executive from any subsequent employment will
not offset or reduce the Company’s severance obligations under this Section 8 following Executive’s termination. The
Company’s obligation to pay Executive any payments under this Section 8 will not be subject to set-off, counterclaim or recoupment
of amounts owed by Executive to the Company.

 

Section 9.       Restrictive
Covenants.

 

(a)       Confidential
Information. Executive shall not, in any manner, for any reasons, either directly or indirectly, use for the benefit of any
person or entity other than Company, or otherwise divulge or communicate to any person, firm or corporation, any confidential information
concerning any matters not generally known or otherwise made public regarding which the Company’s business, finances, marketing
and/ or operations, research, development, inventions, products, designs, plans, procedures, or other data (collectively, “Confidential
Information”) except in the ordinary course of business or as required by applicable law or a court of competent jurisdiction.
Without regard to whether any item of Confidential Information is deemed or considered confidential, material, or important, the
parties hereto stipulate that as between them, to the extent such item is not generally known, such item is important, material,
and confidential and affects the successful conduct of Company’s business and good will, and that any breach of the terms
of this Section 9(a) shall be a material and incurable breach of this Agreement. Confidential Information shall not include: (i)
information obtained or which became known to Executive other than through his employment by Company; (ii) information in the public
domain at the time of the disclosure of such information by Executive; (iii) information that Executive can document was independently
developed by Executive; and (iv) information that is disclosed by Executive with the prior written consent of Company.

 

(b)       Non-Competition.
During the Term of this Agreement and for one year thereafter, Executive shall not engage, without the prior consent of Company
in any of the following competitive activities: (a) engaging directly or indirectly in any business in competition with any material
business engaged in (or proposed to be engaged in as evidenced by documented discussions, which discussions in the case of post-employment
non-competition, must have occurred prior to termination of Executive’s employment) by Company; (b) soliciting or taking
away any employee, agent, representative, contractor, supplier, vendor, customer, franchisee, lender or investor of Company, or
attempting to so solicit or take away; or (c) interfering with any contractual or other relationship between Company and any employee,
agent, representative, contractor, supplier, vendor, customer, franchisee, lender or investor. In addition, during the Term and
for two years thereafter, neither party (including any affiliate of either party) shall make or cause to be made any negative statement
of any kind concerning the other party or its affiliates, or their directors, officers or agents or employees.

 

    	6

    	 

    

 

(c)       Return
of Documents. Executive agrees that all documents and materials furnished to Executive by Company and relating to Company’s
business or prospective business are and shall remain the exclusive property of Company. Executive shall deliver all such documents
and materials, uncopied, to Company upon demand therefore and in any event upon expiration or termination of this Agreement.

 

(d)       Inventions.
All ideas, inventions, and other developments or improvements conceived or reduced to practice by Executive, alone or with others,
during the Term, whether or not during working hours, that are within the scope of the business of Company or that relate to or
result from any of Company’s work or projects or the services provided by Executive to Company pursuant to this Agreement,
shall be the exclusive property of Company. Executive agrees to assist Company, at Company’s expense, to obtain patents and
copyrights on any such ideas, inventions, writings, and other developments, and agrees to execute all documents necessary to obtain
such patents and copyrights in the name of Company.

 

(e)       Conflicts
of Interest. To ensure that Executive avoids situations that create an actual or potential conflict between personal interests
and those of the Company in performing his duties, during the Term, Executive will promptly disclose to the Board of Directors
of the Company full information concerning any interest, direct or indirect, of Executive (as owner, shareholder, partner, lender
or other investor, director, officer, employee, consultant or otherwise) or any member of his immediate family in any business
that is reasonably known to Executive to purchase or otherwise obtain services or products from, or to sell or otherwise provide
services or products to, Company or to any of its suppliers or customers and the Executive further agrees to adhere to any Conflict
of Interest Policy that may be adopted by the Board of Directors of the Company.

 

(f)       
Injunctive Relief. Executive acknowledges and agrees that the covenants and obligations of Executive set forth in this Section
9 with respect to non-competition, non-solicitation, confidentiality and Company’s property relate to special, unique and
extraordinary matters and that a violation of any of the terms of such covenants and obligations will cause Company irreparable
injury for which adequate remedies are not available at law. Therefore, Executive agrees that Company shall be entitled to an injunction,
restraining order or such other equitable relief (without the requirement to post bond) as a court of competent jurisdiction may
deem necessary or appropriate to restrain Executive from committing any violation of the covenants and obligations referred to
in this Section 9. These injunctive remedies are cumulative and in addition to any other rights and remedies Company may have at
law or in equity.

 

(g)       
Executive agrees that the provisions of this Section 9 shall survive expiration or earlier termination of this Agreement for any
reasons, whether voluntary or involuntary, with or without cause, and shall remain in full force and effect thereafter. Notwithstanding
the foregoing, if this Agreement is terminated upon the dissolution of Company, the filing of a petition in bankruptcy by Company
or upon an assignment for the benefit of creditors of the assets of Company, the provisions of this Section 9 shall be of no further
force or effect.

 

    	7

    	 

    

 

Section 10.       Indemnification.
The Company will indemnify Executive to the fullest extent permitted by law and its bylaws (including advancement of legal fees)
for any action or inaction of Executive while serving as an officer or director of the Company. The Company will cover Executive
under its directors and officers liability insurance policies both during and, while potential liability exists, after Executive’s
termination of employment. The provisions of this Section 10 shall survive the termination of Executive’s employment with
the Company.

 

Section 11.       Code
Section 409A.

 

(a)       Compliance.
Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so that the payments
and benefits set forth herein either shall either be exempt from the requirements of Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), or shall comply with the requirements of Code Section 409A, and, accordingly, to
the maximum extent permitted, this Agreement shall be interpreted to be exempt from or in compliance with Code Section 409A. To
the extent that the Company determines that any provision of this Agreement would cause the Executive to incur any additional tax
or interest under Code Section 409A, the Company shall be entitled to reform such provision to attempt to comply with or be exempt
from Code Section 409A through good faith modifications. To the extent that any provision hereof is modified in order to comply
with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain
the original intent and economic benefit to Executive and the Company without violating the provisions of Code Section 409A.

 

(b)       Separate
Payments. Notwithstanding anything in this Agreement to the contrary, the right to receive installment payments hereunder shall
be treated as a right to receive a series of separate payments in accordance with Code Section 409A and Final Treasury Regulation
Section 1.409A-2(b)(2)(iii).

 

(c)       Short-Term
Deferral. Except as otherwise specifically provided, amounts payable under this Agreement, other than those expressly payable
on a deferred or installment basis, will be paid as promptly as practicable following the date they are earned and vested and,
in any event, on or prior to March 15 of the year following the first calendar year in which such amounts are no longer subject
to a substantial risk of forfeiture, as such term is defined in Section 409A of the Code.

 

(d)       Specified
Employee. Notwithstanding any provision in this Agreement or elsewhere to the contrary, if on his termination date Executive
is deemed to be a “specified employee” within the meaning of Code Section 409A and the Final Treasury Regulations using
the identification methodology selected by the Company from time to time, or if none, the default methodology under Code Section
409A, any payments or benefits due upon a termination of Executive’s employment under any arrangement that constitutes a
“deferral of compensation” within the meaning of Code Section 409A shall be delayed and paid or provided (or commence,
in the case of installments) on the first payroll date on or following the earlier of (i) the date which is six (6) months and
one (1) day after Executive’s termination of employment for any reason other than death, and (ii) the date of Executive’s
death, and any remaining payments and benefits shall be paid or provided in accordance with the normal payment dates specified
for such payment or benefit; provided, that, payments or benefits that qualify as short-term deferral (within the meaning of Code
Section 409A and Final Treasury Regulations Section 1.409A-1(b)(4)) or involuntary separation pay (within the meaning of Code Section
409A and Final Treasury Regulations Section 1.409A-1(b)(9)(iii)(A)) and are otherwise permissible under Section 409A and the Final
Treasury Regulations, shall not be subject to such six-month delay.

 

    	8

    	 

    

 

(e)       Separation
from Service. Notwithstanding anything in this Agreement or elsewhere to the contrary, a termination of employment shall not
be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits
that constitute “non-qualified deferred compensation” within the meaning of Code Section 409A upon or following a termination
of Executive’s employment unless such termination is also a “separation from service” within the meaning of Code
Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination
of employment” or like terms shall mean “separation from service” and the date of such separation from service
shall be the Termination date for purposes of any such payment or benefits.

 

(f)       No
Designation. In no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under
this Agreement or otherwise which constitutes a “deferral of compensation” within the meaning of Code Section 409A.

 

(g)       Expense
Reimbursement. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits,
except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable
year, and (iii) such payments shall be made on or before the last day of Executive’s taxable year following the taxable year
in which the expense was incurred.

 

Section 12.       Code
Section 280G.

 

(a)       In
the event that Executive shall become entitled to payments and/or benefits provided by the Agreement or any other amounts to (or
for the benefit of) Executive that constitute “parachute payments,” as such term is defined under Section 280G of the
Code, as a result of a change in ownership or effective control of the Company or in the ownership of a substantial portion of
the assets of the Company (collectively, the “Company Payments”), and such Company Payments will be subject
to the tax (the “Excise Tax”) imposed by Section 4999 of the Code (and similar tax, if any, that may hereafter
be imposed by any taxing authority), the Company shall pay to Executive at the time specified in clause (v) below an additional
amount (the “Gross-Up Payment”) such that the net amount retained by Executive from the Company Payments together
with the Gross-Up Payment, after deduction of any Excise Tax on the Company Payments and any U.S. federal, state, and local income
or payroll tax upon the Gross-Up Payment provided for by this clause (i), but before deduction for any U.S. federal, state, and
local income or payroll tax on the Company Payments, shall be equal to the Company Payments.

 

    	9

    	 

    

 

(b)       For
purposes of determining whether any of the Company Payments and Gross-Up Payment (collectively, the “Total Payments”)
will be subject to the Excise Tax and the amount of such Excise Tax: (i) the Total Payments shall be treated as “parachute
payments” within the meaning of Section 280G(b)(2) of the Code, and all “parachute payments” in excess of the
“base amount” (as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless
and except to the extent that, in the opinion of the Company’s independent certified public accountants appointed prior to
any change in ownership (as defined under Section 280G(b)(2) of the Code) or a certified public accountant appointed following
a change in ownership that is or tax counsel selected by such accountants or the Company (the “Accountants”)
such Total Payments (in whole or in part): (1) do not constitute “parachute payments,” (2) represent reasonable compensation
for services actually rendered within the meaning of Section 280G(b)(4) of the Code in excess of the “base amount”
or (3) are otherwise not subject to the Excise Tax; and (ii) the value of any non-cash benefits or any deferred payment or benefit
shall be determined by the Accountants in accordance with the principles of Section 280G of the Code.

 

(c)       In
the event that the Accountants are serving as accountants or auditors for the individual, entity or group effecting the change
in control (within the meaning of Section 280G of the Code), Executive may appoint another nationally recognized accounting firm
to make the determinations hereunder (which accounting firm shall then be referred to as the “Accountants” hereunder).
All determinations hereunder shall be made by the Accountants which shall provide detailed supporting calculations both to the
Company and Executive at such time as it is requested by the Company or Executive. The determination of the Accountants, subject
to the adjustments provided below, shall be final and binding upon the Company and Executive.

 

(d)       For
purposes of determining the amount of the Gross-Up Payment, Executive’s marginal blended actual rates of federal, state and
local income taxation in the calendar year in which the change in ownership or effective control that subjects Executive to the
Excise Tax occurs shall be used. In the event that the Excise Tax is subsequently determined by the Accountants to be less than
the amount taken into account hereunder at the time the Gross-Up Payment is made, Executive shall repay to the Company, at the
time that the amount of such reduction in Excise Tax is finally determined, the portion of the prior Gross-Up Payment attributable
to such reduction (plus the portion of the Gross-Up Payment attributable to the Excise Tax and U.S. federal, state and local income
tax imposed on the portion of the Gross-Up Payment being repaid by Executive if such repayment results in a reduction in Excise
Tax or a U.S. federal, state and local income tax deduction). Notwithstanding the foregoing, in the event that any portion of the
Gross-Up Payment to be refunded to the Company has been paid to any U.S. federal, state and local tax authority, repayment thereof
(and related amounts) shall not be required until actual refund or credit of such portion has been made to Executive. Executive
and the Company shall mutually agree upon the course of action to be pursued (and the method of allocating the expense thereof)
if Executive’s claim for refund or credit is denied. In the event that the Excise Tax is later determined by the Accountants
or the Internal Revenue Service (or other taxing authority) to exceed the amount taken into account hereunder at the time the Gross-Up
Payment is made (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up
Payment), the Company shall make an additional Gross-Up Payment in respect of such excess (plus any interest or penalties payable
with respect to such excess) promptly after the amount of such excess is finally determined.

 

    	10

    	 

    

 

(e)       The
Gross-Up Payment or portion thereof provided for in clause (iv) above shall be paid not later than the sixtieth (60th)
day following an event occurring which subjects Executive to the Excise Tax; provided, however, that if the amount of such Gross-Up
Payment or portion thereof cannot be finally determined on or before such day, the Company shall pay to Executive on such day an
estimate, as determined in good faith by the Accountants, of the minimum amount of such payments and shall pay the remainder of
such payments (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code), subject to further payments pursuant
to clause (iv) above, as soon as the amount thereof can reasonably be determined, but in no event later than the seventy-fifth
(75th) day after the occurrence of the event subjecting Executive to the Excise Tax. Subject to clauses (iv) and (ix)
of this Exhibit B, in the event that the amount of the estimated payments exceeds the amount subsequently determined to have been
due, such excess shall constitute a loan by the Company to Executive, payable on the fifth (5th) day after demand by the Company
(together with interest at the rate provided in Section 1274(b)(2)(B) of the Code).

 

(f)       In
the event of any controversy with the Internal Revenue Service (or other taxing authority) with regard to the Excise Tax, Executive
shall permit the Company to control issues related to the Excise Tax (at its expense), provided that such issues do not potentially
materially adversely affect Executive, but Executive shall control any other issues. In the event that the issues are interrelated,
Executive and the Company shall in good faith cooperate so as not to jeopardize resolution of either issue, but if the parties
cannot agree, Executive shall make the final determination with regard to the issues. In the event of any conference with any taxing
authority as to the Excise Tax or associated income taxes, Executive shall permit the representative of the Company to accompany
Executive, and Executive and Executive’s representative shall cooperate with the Company and its representatives.

 

(g)       The
Company shall be responsible for all charges of the Accountants.

 

(h)       The
Company and Executive shall promptly deliver to each other copies of any written communications, and summaries of any verbal communications,
with any taxing authority regarding the Excise Tax covered by this Section 12.

 

(i)       Nothing
in this Section 12 is intended to violate the Sarbanes-Oxley Act of 2002 and to the extent that any advance or repayment obligation
hereunder would do so, such obligation shall be modified so as to make the advance a nonrefundable payment to Executive and the
repayment obligation null and void.

 

(j)       Notwithstanding
the foregoing, any payment or reimbursement made pursuant to this Section 12 shall be made in any event no later than the end of
the calendar year immediately following the calendar year in which Executive remits the related taxes, and any reimbursement of
expenses incurred due to a tax audit or litigation shall be made no later than the end of the calendar year immediately following
the calendar year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authority, or,
if no taxes are to be remitted, the end of the calendar year following the calendar year in which the audit or litigation is completed.

 

    	11

    	 

    

 

(k)       The
provisions of this Section 12 shall survive the termination of Executive’s employment with the Company for any reason.

 

Section 13.       Miscellaneous.

 

(a)       Executive’s
Representations. Executive hereby represents and warrants to the Company that (i) Executive has read this Agreement in its
entirety, fully understands the terms of this Agreement, has had the opportunity to consult with counsel prior to executing this
Agreement, and is signing the Agreement voluntarily and with full knowledge of its significance; (ii) the execution, delivery and
performance of this Agreement by Executive does not and shall not conflict with, breach, violate or cause a default under any contract,
agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound; (iii) Executive is not
a party to or bound by an employment agreement, non-compete agreement or confidentiality agreement with any other person or entity
which would interfere in any material respect with the performance of his duties hereunder; and (iv) Executive shall not use any
confidential information or trade secrets of any person or party other than the Company Group in connection with the performance
of his duties hereunder.

 

(b)       Modification;
Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in a writing signed by Executive and an officer of the Company (other than Executive) duly authorized by the Board
to execute such amendment, waiver or discharge. No waiver by either Party at any time of any breach of the other Party of, or compliance
with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No failure by either party to declare a default based
on any breach by the other party of any obligation under this Agreement, nor failure of such party to act quickly with regard thereto,
shall be considered to be a waiver of any such obligation, or of any future breach.

 

(c)       Successors
and Assigns. Executive may not assign his rights or interests under this Agreement. This Agreement shall be binding on and
inure to the benefit of the successors and assigns of the Company.

 

(d)       Notice.
For the purpose of this Agreement, all communications provided for in this Agreement, shall be in writing and shall be deemed to
have been duly given if delivered personally, if delivered by overnight courier service, or if mailed
by registered mail, return receipt requested, postage prepaid, addressed to the respective addresses or sent via facsimile to the
respective facsimile numbers, as the case may be, as set forth below, or to such other address as either party may have furnished
to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt; provided,
however, that (i) notices sent by personal delivery or overnight courier shall be deemed given when delivered; (ii) notices
sent by facsimile transmission shall be deemed given upon the sender’s receipt of confirmation of complete transmission,
and (iii) notices sent by registered mail shall be deemed given five (5) days after the date of deposit
in the mail.

 

    	12

    	 

    

 

If to the Company, to:

 

Investview, Inc.

12244 South Business Park Drive, Suite 240

Draper, UT 84020

Telephone: (___) ___________

Facsimile: (___) ___________

Attention: Dr. Joseph J. Louro

 

with a copy to:

 

Fleming PLLC

49 Front Street, Suite 206

Rockville Centre, New York 11570

Telephone: 516-833-5034

Facsimile: 516-977-1209

Attention: Stephen M. Fleming, Esq.

 

If to Executive, to:

 

Randy MacDonald

38 River Avenue

Monmouth Beach, NJ 07750

Telephone:

Facsimile:

 

with a copy to:

 

Akin Gump Strauss Hauer & Feld LLP

One Bryant Park

New York, New York 10036

Telephone: (212) 872-1010

Facsimile: (212) 872-1002

Attention: Rolf Zaiss, Esq.

 

 

 

(e)       GOVERNING
LAW; CONSENT TO JURISDICTION. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
UTAH, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF UTAH OR ANY OTHER JURISDICTION)
THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF UTAH TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE
INTERNAL LAW OF THE STATE OF UTAH WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S
CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY. .

 

    	13

    	 

    

 

(f)       JURY
TRIAL WAIVER. THE PARTIES EXPRESSLY AND KNOWINGLY WAIVE ANY RIGHT TO A JURY TRIAL IN THE EVENT ANY ACTION ARISING UNDER OR
IN CONNECTION WITH THIS AGREEMENT OR EXECUTIVE’S EMPLOYMENT WITH THE COMPANY IS LITIGATED OR HEARD IN ANY COURT.

 

(g)       Severability.
If any term or provision of this Agreement (or any portion thereof) is determined by a court of competent jurisdiction to be invalid,
illegal, or incapable of being enforced, all other terms and provisions of this Agreement shall nevertheless remain in full force
and effect. Upon a determination that any term or provision (or any portion thereof) is invalid, illegal, or incapable of being
enforced, the Parties agree that a reviewing court shall have the authority to “blue pencil” or modify this agreement
so as to render it enforceable and effect the original intent of the parties to the fullest extent permitted by applicable law.

 

(h)       Advice
of Counsel and Construction. Each Party acknowledges that such Party had the opportunity to be represented by counsel in the
negotiation and execution of this Agreement. Accordingly, the rule of construction of contract language by the drafting party is
hereby waived by each Party.

 

(i)       Legal
Fees. The Company shall either pay or reimburse Executive (as elected by the Company) for all reasonable legal fees and expenses
incurred by Executive in connection with the negotiation and drafting of this Agreement

 

(j)       Entire
Agreement. This Agreement sets forth the entire agreement of the Parties in respect of the subject matter contained herein
and supersedes all prior agreements (including, but not limited to, the Original Agreement), promises, covenants, arrangements,
communications, representations or warranties, whether oral or written in respect of the subject matter contained herein. For the
avoidance of doubt, the Company and the Executive agree and acknowledge that the entering into of this Agreement, and the provision
that this Agreement supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties,
whether oral or written in respect of the subject matter contained herein.

 

(k)       Withholding
Taxes. The Company shall be entitled to withhold from any payment due to Executive hereunder any amounts required to be withheld
by applicable tax laws or regulations.

 

    	14

    	 

    

 

(l)       Headings.
The headings contained herein are for the convenience of reference and are not to be used in interpreting this Agreement.

 

(m)       
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument.

 

 

 

 

 

 

 

[Signature Page Follows]

 

    	15

    	 

    

IN WITNESS WHEREOF,
the Parties have executed this Employment Agreement as of the date first above written.

 

	 	INVESTVIEW, INC.
	 	 
	 	By: 	/s/ Dr. Joseph J. Louro
	 	 	Name: Dr. Joseph J. Louro

Title: Chairman and Chief Executive Officer

 

	 	EXECUTIVE
	 	 
	 	By: 	/s/ John R. MacDonald
	 	 	John R. MacDonald

    	16

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