<SEC-DOCUMENT>0001144204-12-052284.txt : 20120920
<SEC-HEADER>0001144204-12-052284.hdr.sgml : 20120920
<ACCEPTANCE-DATETIME>20120920170548
ACCESSION NUMBER:		0001144204-12-052284
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20120914
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120920
DATE AS OF CHANGE:		20120920

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mandalay Digital Group, Inc.
		CENTRAL INDEX KEY:			0000317788
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				222267658
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10039
		FILM NUMBER:		121102540

	BUSINESS ADDRESS:	
		STREET 1:		4751 WILSHIRE BOULEVARD
		STREET 2:		THIRD FLOOR
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90010
		BUSINESS PHONE:		(310) 601-2500

	MAIL ADDRESS:	
		STREET 1:		4751 WILSHIRE BOULEVARD
		STREET 2:		THIRD FLOOR
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NeuMedia, Inc.
		DATE OF NAME CHANGE:	20100514

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Mandalay Media, Inc.
		DATE OF NAME CHANGE:	20071109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Mediavest, Inc.
		DATE OF NAME CHANGE:	20050809
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v324135_8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<HR NOSHADE SIZE="1" STYLE="color: Black; width: 20%; margin-top: 0pt; margin-bottom: 0pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Current Report</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of report (Date of earliest event
reported):&nbsp;September 14, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Mandalay Digital Group, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact Name of Registrant as Specified
in Charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">000-10039</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">22-2267658</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or Other Jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of Incorporation)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD>
    <TD STYLE="vertical-align: bottom"></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">Commission File Number</TD>
    <TD STYLE="vertical-align: bottom"></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4751 Wilshire Boulevard, Third Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Los Angeles, CA</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>90010</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant's telephone number, including
area code:&nbsp;(805) 690-4500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<HR NOSHADE SIZE="1" STYLE="color: Black; width: 20%; margin-top: 0pt; margin-bottom: 0pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; font-weight: bold">Item 5.02</TD>
    <TD STYLE="padding-bottom: 0; font-weight: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><B><I>Appointment of Dan Halvorson as Chief
Financial Officer.</I></B>&nbsp;&nbsp;On September 14, 2012, Mandalay Digital Group, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;),
appointed Dan L. Halvorson Executive Vice President and Chief Financial Officer and entered into an employment agreement with Mr.
Halvorson.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Mr. Halvorson, 47, was previously Chief Financial
Officer and Executive Vice President of DivX, Inc. (NASDAQ: DIVX), a digital media company, from 2007 until it acquisition by Sonic
Solutions in 2010. From 2000 until 2007 he held various senior finance positions, including Chief Financial Officer, at Novatel
Wireless, Inc. (NASDAQ: NVTL). Mr. Halvorson spent eight years in public accounting firms, at Deloitte &amp; Touche and PriceWaterhouseCoopers.
Mr. Halvorson is a member of the American Institute of Certified Public Accountants, California Society of Certified Public Accountants,
and serves on the Membership Committee of the Corporate Directors Forum in San Diego. He is a certified public accountant, inactive,
and he holds a Bachelor of Science in Business Administration and Accounting from San Diego State University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Mr. Halvorson&rsquo;s employment agreement
provides for a three-year term, subject to a renewal of the term unless notice is provided, and an annual salary of $350,000. Mr.
Halvorson is eligible to receive an annual cash bonus&nbsp;up to 100% of salary based on the satisfaction of performance-related
milestones to be agreed upon between Mr. Halvorson and the Company&rsquo;s board of directors. Mr. Halvorson also received a grant
of &ldquo;non-qualified&rdquo; options to purchase 2,000,000 shares&nbsp;of the Company&rsquo;s common stock at the closing price
of the Company&rsquo;s common stock on the grant date (&ldquo;<U>Stock Options</U>&rdquo;). The Stock Options vest on a monthly,
pro-rata basis over thirty-six (36) months, subject to acceleration of vesting in connection with changes of control (as defined
in the agreement) of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In the event of termination of Mr. Halvorson&rsquo;s
employment without cause (as defined in the agreement) or (in certain cases), his resignation for good reason (as defined in the
agreement), the Company shall provide to Mr. Halvorson, in addition to accrued compensation: (i) six months of continued salary;
(ii) six months (or, in certain cases, twelve months) of executive health and group health plan benefits, and (iii) six months
of continued vesting of the Stock Options. Where a termination without cause or a resignation for good reason occurs within twelve
months of a change of control, then Mr. Halvorson would receive, in lieu of the payment in clause (i) above, a potentially higher
cash payment based on the value of the Company in the change of control (as further specified in the agreement). Such payment would
be up to 24 months of salary, plus two times the greater of his maximum annual bonus for the current or preceding fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><B><I>Appointment of William Stone as Chief
Executive Officer of Digital Turbine Group, LLC.</I></B>&nbsp;&nbsp;On September 16, 2012, the Company appointed William Stone
the Chief Executive Officer of Digital Turbine Group, LLC (&ldquo;<U>DT</U>&rdquo;), a wholly-owned subsidiary of the Company,
and entered into an employment agreement with Mr. Stone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Mr. Stone, age 44, was previously Senior
Vice President of QUALCOMM Inc. (NASDAQ: QCOM) and President of its subsidiary FLO TV Inc. from 2009 to 2011. Prior to Qualcomm,
Stone was the CEO and President of the smartphone application storefront provider, Handango, (acquired by Appia Inc.) from 2007
to 2009. Mr. Stone also served as the President of Amp'd Mobile Inc., from 2006 to 2007. Mr. Stone has extensive experience in
carrier relations, wireless, content, marketing and distribution, having worked at several operators such as Verizon, Vodafone,
and AirTouch. He has previously served as Vice President of Verizon Wireless, where he was responsible for strategy, planning,
mobile content, music, e-commerce, and a variety of marketing functions. He has also previously served as Chief Marketing Officer
for Vodafone in Australia where he led all branding, promotion, pricing and product marketing activities. Mr. Stone holds a Bachelor's
degree in Economics and Political Science and a Master of Business Administration in International Management and Finance from
Rice University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">From March 2012 to September 2012, Mr. Stone
was engaged as a consultant to the Company, consulting on strategic direction, budgeting, and implementation of mergers and acquisitions
and was paid $20,000 per month, on a month-to-month basis pursuant to a consulting agreement with the Company. The company terminated
Mr. Stone&rsquo;s consulting agreement in connection with his appointment as CEO of DT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Mr. Stone&rsquo;s employment agreement provides
for a three-year term and an annual salary of $350,000. Mr. Stone also received a $100,000 signing bonus, half of which is payable
upon signing of the agreement and the balance of which is payable pro-rata during the seventh through twelfth months of the first
year of the term of the employment agreement. Mr. Stone is eligible to receive an annual cash bonus&nbsp;of up to 100% of salary
based on the satisfaction of performance-related milestones to be agreed upon between Mr. Stone and the Company&rsquo;s board of
directors. Mr. Stone is also eligible to receive additional cash bonuses related to agreements signed with carriers and original
equipment manufacturers (OEM) during the first year of such contract as set forth in his agreement. Mr. Stone also received a grant
of 1,500,000 shares&nbsp;of restricted common stock of the Company under the Company&rsquo;s 2011 Equity Incentive Plan. The stock
grants vests on a monthly pro-rata basis over thirty-six (36) months, subject to acceleration of vesting in connection with changes
of control of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In the event of termination of Mr. Stone&rsquo;s
employment without cause (as defined in the agreement), the Company shall provide to Mr. Stone, in addition to accrued compensation:
(i) six months of continued salary; (ii) six months of executive health and group health plan benefits, (iii) six months of continued
vesting of his stock grant and (iv) any unpaid amounts of the signing bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The foregoing are summaries of the material
terms of Mr. Halvorson&rsquo;s and Mr. Stone&rsquo;s respective employment agreement and do not purport to be a complete descriptions
of the terms thereof. Accordingly, the foregoing descriptions are qualified in their entirety by reference to the full text of
Mr. Halvorson&rsquo;s and Mr. Stone&rsquo;s employment agreements, copies of which are attached hereto as Exhibit 10.1 and Exhibit
10.2 and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; font-weight: bold">Item&nbsp;9.01</TD>
    <TD STYLE="font-weight: bold">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27pt">&nbsp;</TD>
    <TD STYLE="width: 120px; text-decoration: underline">Exhibit No.</TD>
    <TD STYLE="text-decoration: underline">Exhibit Title</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27pt">&nbsp;</TD>
    <TD STYLE="width: 120px">10.1</TD>
    <TD>Employment Agreement, dated as of September 14, 2012, by and between Mandalay Digital Group, Inc. and Dan L. Halvorson.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>10.2</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employment Agreement, dated as of September 16, 2012, by and
        between Mandalay Digital Group, Inc. and William Stone.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>99.1</TD>
    <TD>Press Release, dated September 17, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; font-weight: bold">Mandalay Digital Group, Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">Dated: September 20, 2012</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">By:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Dan Halvorson</P></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dan Halvorson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v324135_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>EMPLOYMENT
AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This EMPLOYMENT AGREEMENT (the &ldquo;<U>Agreement</U>&rdquo;)
is made effective as of September 14, 2012 (the &ldquo;<U>Effective Date</U>&rdquo;), by and among Mandalay Digital Group, Inc.
(formerly NeuMedia, Inc.), a Delaware corporation (the &ldquo;<U>Employer</U>&rdquo;) and Dan L. Halvorson (the &ldquo;<U>Executive</U>&rdquo;).&nbsp;&nbsp;In
consideration of the mutual covenants contained in this Agreement, the Employer and the Executive agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employment</U>.&nbsp;&nbsp;The
Employer agrees to employ the Executive and the Executive agrees to be employed by the Employer on the terms and conditions set
forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capacity</U>.&nbsp;&nbsp;The
Executive shall serve the Employer as Executive Vice President and Chief Financial Officer of the Employer.&nbsp;&nbsp;As Chief
Financial Officer, the Executive shall be responsible for the general supervision, management and control of the financial and
accounting operations of the Employer&rsquo;s and its subsidiaries&rsquo; business and shall be its &ldquo;principal accounting
and financial officer&rdquo; for SEC purposes, subject to the direction of the Board of Directors of the Employer. The Executive
shall report directly to the Chief Executive Officer of the Employer. At the reasonable request of Board of Directors or the Chief
Executive Officer of the Employer, the Executive shall provide services to subsidiaries and affiliates of the Employer, without
additional compensation becoming payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Term</U>.&nbsp;&nbsp;Subject
to the provisions of Section 6, the term of employment pursuant to this Agreement shall be three (3) years, i.e., thirty six (36)
calendar months, from the Effective Date (the &ldquo;<U>Initial Term</U>&rdquo;), and such Initial Term shall be automatically
extended for an additional three (3) year period unless either the Employer or Executive in their discretion provides the other
party hereto at least one hundred and eighty (180) days&rsquo; prior written notice before the last day of the Initial Term to
the effect that the term of this Agreement shall not be so extended (the Initial Term and any extension thereof pursuant to this
Section 3, the &ldquo;<U>Term</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
and Benefits</U>.&nbsp;&nbsp;The regular compensation and benefits payable to the Executive under this Agreement shall be as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Salary</U>.&nbsp;&nbsp;For
all services rendered by the Executive under this Agreement, the Employer shall pay the Executive an annual salary (the &ldquo;<U>Salary</U>&rdquo;)
at the annual rate of Three Hundred Fifty Thousand Dollars ($350,000).&nbsp;&nbsp;The Executive&rsquo;s Salary shall be payable
in periodic installments in accordance with the Employer&rsquo;s usual practice for its employees, but in no event less than monthly
over the year in which the Salary is earned.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bonuses</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual
Bonus</U>. The Executive shall be entitled to be paid an annual incentive bonus in cash in an amount of up to 100% of the Executive&rsquo;s
Salary based upon satisfaction of performance-related milestones, determined by the Board of Directors and the Executive, and subject
to the additional provisions of Exhibit A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
bonus payable under this subsection (b) shall vest and accrue upon the achievement of the specified performance criteria and shall
be paid on or within thirty (30) days of such vesting and accrual date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regular
Benefits</U>.&nbsp;&nbsp;The Executive shall also be entitled to participate in any qualified retirement plans, deferred compensation
plans, stock option and incentive plans, stock purchase plans, group and executive medical insurance plans (i.e., coverage for
the Executive and family), life insurance plans, disability income plans, retirement plans, vacation plans, expense reimbursement
plans and other benefit plans which the Employer may from time to time have in effect for any, all or most of its senior executives
(collectively &ldquo;<U>Employer Benefit Plans</U>&rdquo;).&nbsp;&nbsp;Such participation shall be subject to the terms of applicable
plan documents, generally applicable policies of the Employer, applicable law and the discretion of the Board of Directors, the
Compensation Committee or any administrative or other committee provided for in or contemplated by any such plan.&nbsp;&nbsp;Nothing
contained in this Agreement shall be construed to create any obligation on the part of the Employer to establish any such plans
or to maintain the effectiveness of any such plans which may be in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reimbursement
of Business Expenses</U>.&nbsp;&nbsp;The Employer shall reimburse the Executive for all reasonable expenses incurred by the Executive
in performing services during the Term, in accordance with the Employer&rsquo;s policies and procedures for its senior executive
officers, as in effect from time to time, including but not limited to, business class air travel (or, if unavailable, first class),
meals and entertainment, fuel costs for transportation, wireless mobile communications, and personal computer equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Option Grant</U>.&nbsp;&nbsp;On the Effective Date, the Employer shall grant the Executive &ldquo;non-qualified&rdquo; options
to purchase 2 million (2,000,000) shares of Employer&rsquo;s common stock under Employer&rsquo;s 2011 Equity Incentive Plan having
a ten year term and an exercise price per share equal to the closing price of the Employer&rsquo;s common stock on the OTC Markets
as of the Effective Date (or if the Effective Date is not a trading day on such market, on the next trading day after the Effective
Date), subject to the terms and conditions specified in such plan and in a Stock Option Agreement having the material terms specified
in this subparagraph (e) and the other applicable portions of this Agreement and such additional terms, not inconsistent with such
terms, as the Employer deems appropriate for Stock Option Agreements with senior executives (the &ldquo;<U>Stock Option Agreement</U>&rdquo;),
which option shall vest on a monthly, pro-rata basis over thirty-six (36) months, as further specified in the Stock Option Agreement;
<U>provided</U>, <U>however</U>, <U>that</U> all unvested options to purchase common stock shall vest immediately upon the sale
of all or substantially all of the assets of the Employer, upon the merger or reorganization of the Employer following which the
equityholders of the Employer immediately prior to the consummation of such merger or reorganization collectively own less than
50% of the voting power of the resulting entity, or upon the sale of equity securities of the Employer representing 50% or more
of the voting power of the Employer or 50% or more of the economic interest in the Employer in a single transaction or in a series
of related transactions (i.e., a &ldquo;<U>Change of Control</U>&rdquo;).&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<U> Exclusivity of Salary and Benefits</U>.&nbsp;&nbsp;The
Executive shall not be entitled to any payments or benefits other than those provided under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Extent
of Service</U>.&nbsp;&nbsp;During the Executive&rsquo;s employment under this Agreement, the Executive shall, subject to the direction
and supervision of the Board of Directors, devote the Executive&rsquo;s full business time, best efforts and business judgment,
skill and knowledge to the advancement of the Employer&rsquo;s interests and to the discharge of the Executive&rsquo;s duties and
responsibilities under this Agreement.&nbsp;&nbsp;The Executive shall not engage in any other business activity, except as may
be approved by the Board of Directors; <U>provided</U>, that nothing in this Agreement shall be construed as preventing the Executive
from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investing
the Executive&rsquo;s personal assets in any non-competitive business enterprise, company or other entity in such form or manner
as shall not require any material personal time commitment on the Executive&rsquo;s part in connection with the operations or affairs
of such other enterprise, company or other entity in which such investments are made; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;engaging
in religious, charitable or other community or non-profit activities that do not impair the Executive&rsquo;s ability to fulfill
the Executive&rsquo;s duties and responsibilities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>.&nbsp;&nbsp;Notwithstanding
the provisions of Section 3, the Executive&rsquo;s employment under this Agreement shall terminate under the following circumstances
set forth in this Section 6. For purposes of this Agreement, the date of the Executive&rsquo;s termination (the &ldquo;<U>Termination
Date</U>&rdquo;) shall mean the date of the Executive&rsquo;s &ldquo;separation from service&rdquo; as such term is defined under
Section 409A of the Internal Revenue Code of 1986, as amended (&ldquo;<U>Section 409A</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer for Cause</U>.&nbsp;&nbsp;The Executive&rsquo;s employment under this Agreement may be terminated for Cause without
further liability on the part of the Employer effective immediately upon a vote of the Board of Directors and written notice to
the Executive.&nbsp;&nbsp;Only the following shall constitute &ldquo;Cause&rdquo; for such termination:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
act committed by the Executive against the Employer or any of its affiliates which involves fraud, willful misconduct, gross negligence
or insubordination; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
commission by the Executive of, or indictment for (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty
or fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer Without Cause</U>.&nbsp;&nbsp;Subject to the payment of Termination Benefits pursuant to Section 7(b), the Executive&rsquo;s
employment under this Agreement may be terminated by the Employer without Cause upon not less than fifteen (15) days&rsquo; prior
written notice to the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Death</U>.&nbsp;&nbsp;The
Executive&rsquo;s employment with the Employer shall terminate automatically upon his death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U>.&nbsp;&nbsp;If
the Executive shall become Disabled so as to be unable to perform the essential functions of the Executive&rsquo;s then existing
position or positions under this Agreement with or without reasonable accommodation, the Board of Directors may remove the Executive
from any responsibilities and/or reassign the Executive to another position with the Employer for the remainder of the Term or
during the period of such Disability.&nbsp;&nbsp;Notwithstanding any such removal or reassignment, the Executive shall continue
to receive the Executive&rsquo;s full Salary (less any disability pay or sick pay benefits to which the Executive may be entitled
under the Employer&rsquo;s policies) and benefits under Section 4(c) of this Agreement (except to the extent that the Executive
may be ineligible for one or more such benefits under applicable plan terms) for a period of time equal to twelve (12) months payable
at the same time as such amounts would otherwise have been paid to the Executive had he continued in his current capacity.&nbsp;&nbsp;If
the Executive is unable to perform substantial services of any kind for the Employer during this period, such period shall be considered
a paid leave of absence and the Executive shall have the contractual right to return to employment at any time during such period.&nbsp;&nbsp;If
the Executive&rsquo;s Disability continues beyond such twelve (12) month period, the Executive&rsquo;s employment may be terminated
by the Employer by reason of Disability at any time thereafter.&nbsp;&nbsp;For purposes hereof, the term &ldquo;Disabled&rdquo;
or &ldquo;Disability&rdquo; shall mean a written determination that the Executive, as certified by at least two (2) duly licensed
and qualified physicians, one (1) approved by the Board of Directors of the Employer and one (1) physician approved by the Executive
(the &ldquo;Examining Physicians&rdquo;), or, in the event of the Executive&rsquo;s total physical or mental disability, the Executive&rsquo;s
legal representative, that the Executive suffers from a physical or mental impairment that renders the Executive unable to perform
the Executive&rsquo;s regular personal duties under this Agreement and that such impairment can reasonably be expected to continue
for a period of six (6) consecutive months or for shorter periods aggregating one hundred and eighty (180) days in any twelve (12)
month period; <U>provided</U>, that the Executive&rsquo;s primary care physician may not serve as one of the Examining Physicians
without the consent of the Employer and the Executive (or the Executive&rsquo;s legal representation).&nbsp;&nbsp;The Executive
shall cooperate with any reasonable request of a physician to submit to a physical examination for purposes of such certification.&nbsp;&nbsp;Nothing
in this Section 6(d) shall be construed to waive the Executive&rsquo;s rights, if any, under existing law including, without limitation,
the Family and Medical Leave Act of 1993, 29 U.S.C. &sect;2601 <I>et seq</I>. and the Americans with Disabilities Act, 42 U.S.C.
&sect;12101 <I>et seq.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
Upon Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
Generally</U>.&nbsp;&nbsp;If the Executive&rsquo;s employment with the Employer is terminated for any reason during or upon expiration
of the Term, the Employer shall pay or provide to the Executive (or to his authorized representative or estate) (i) any earned
but unpaid Salary payable on the Termination Date, (ii) any bonus that has been accrued under Section 4(b) through the Termination
Date but not yet paid, payable at the same time such amounts would otherwise have been paid to the Executive (for clarity, no amounts
related to future periods or future performance shall be payable under this clause; any such amounts shall be payable only pursuant
to Section 7(d)), (iii) any unpaid expense reimbursements, payable in accordance with the Employer&rsquo;s reimbursement policies,
(iv) any accrued but unused vacation, payable on the Termination Date, and (v) any vested benefits the Executive may have under
any of the Employer Benefit Plans, payable as specified in the applicable plan documents (collectively, the &ldquo;<U>Accrued Compensation</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer Without Cause</U>.&nbsp;&nbsp;In the event of termination of the Executive&rsquo;s employment with the Employer
pursuant to Section 6(b) above prior to the expiration of the Term or (solely with respect to clauses (ii) and (iv) below, to the
extend provided for therein), Executive&rsquo;s resignation for &ldquo;Good Reason&rdquo;, as defined below, and subject to the
Executive&rsquo;s execution and delivery of a release of any and all legal claims in a form reasonably satisfactory to the Employer
within forty-five (45) days of the Termination Date (the &ldquo;<U>Release Period</U>&rdquo;), the Employer shall provide to the
Executive, in addition to the Accrued Compensation, the following termination benefits (&ldquo;<U>Termination Benefits</U>&rdquo;)
effective as of the final day of the Release Period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to clause (iv) below, continuation of the Executive&rsquo;s Salary during the Termination Benefits Period (as defined below) at
the rate and in accordance with this Agreement and the Employer&rsquo;s payroll practices then in effect pursuant to Section 4(a);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;continuation
of any executive health and group health plan benefits during the Termination Benefits Period plus, if clause (iv) applies, an
additional six (6) months beyond the end of the Termination Benefits Period, to the extent authorized by and consistent with 29
U.S.C. &sect; 1161 et seq. (commonly known as &ldquo;COBRA&rdquo;), subject to payment of premiums by the Employer to the extent
that the Employer was covering such premiums as of the Termination Date (if permitted by law without violation of applicable discrimination
rules, or, if not, the equivalent after-tax value payable as additional severance at the same time such premiums are otherwise
payable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)&#9;continuation of vesting
of the stock option granted pursuant to the Stock Option Agreement during the Termination Benefits Period; and (if applicable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iv)&#9;if (but only if) such Section
6(b) termination of Executive&rsquo;s employment occurs within twelve (12) months following the consummation of a Change of Control,
or a resignation by Executive for &ldquo;Good Reason&rdquo; where the events giving rise to Executive&rsquo;s right to resign for
&ldquo;Good Reason&rdquo; occur within twelve (12) months following the consummation of a Change of Control, the Employer shall
pay the following amounts to Executive (for clarity, the amount under this Section 7(b)(iv) shall be in lieu of any amount that
would otherwise be due Executive under Section 7(b)(i) in connection with the termination):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(a)&#9;In the event the Employer&rsquo;s
total enterprise value (computed by multiplying the number of outstanding shares of the Employer&rsquo;s common stock on a fully
diluted (taking into account only those stock options or other convertible securities that are in-the-money on such date), as-converted
basis by the consideration paid per share of Common Stock in connection with such Change of Control) is at least $250 million but
less than $350 million, Employer shall pay Executive a lump sum cash amount equal to (i) 12 months of Salary, plus (ii) the greater
of (A) the maximum annual bonus for which Executive is then eligible under Section 4(b) above and (B) the maximum annual bonus
for which Executive was eligible during the last completed fiscal year immediately preceding the Change of Control under Section
4(b) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(b)&#9;In the event the Employer&rsquo;s
total enterprise value (computed by multiplying the number of outstanding shares of the Employer&rsquo;s common stock on a fully
diluted (taking into account only those stock options or other convertible securities that are in-the-money on such date), as-converted
basis by the consideration paid per share of Common Stock in connection with such Change of Control) is at least $350 million,
Employer shall pay Executive a lump sum cash amount equal to (i) 24 months of Salary, plus (ii) two times (2x) the greater of (A)
the maximum annual bonus for which Executive is then eligible under Section 4(b) above and (B) the maximum annual bonus for which
Executive was eligible during the last completed fiscal year immediately preceding the Change of Control under Section 4(b) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(c)&#9;For purposes of this sub-clause
(iv), &ldquo;total enterprise value&rdquo; shall be reasonably determined by the Employer after good faith consultation with the
Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(d)&#9;For purposes of Section 7(b),
&ldquo;Good Reason&rdquo; shall be present where Executive resigns due to the occurrence of any of the following, without Executive&rsquo;s
written consent: (i) a material reduction in Executive&rsquo;s Salary; (ii) any material diminution, without Cause, in Executive&rsquo;s
duties, authority or responsibility; (iii) relocation of the Employer&rsquo;s principal executive offices to a location outside
of a 30 mile radius of its then-current principal executive offices where such relocation requires a material increase in Executive&rsquo;s
one-way commuting distance; or (iv) any material breach by Employer of the terms of this Agreement, including but not limited to
a material failure to pay Executive any compensation due under this Agreement, or a breach of Section 11 hereof; provided, however
that in each case any termination by the Executive shall only be deemed for Good Reason pursuant to the foregoing definition if
(A) the Employer is given written notice from the Executive within sixty (60) days following the first occurrence of the condition
that he considers to constitute Good Reason describing the condition; (B) the Employer fails to satisfactorily remedy such condition
within thirty (30) days (provided such period shall be ten (10) days in the case of any failure to pay Executive compensation due
under this Agreement) following receipt of such written notice; and (C) the Executive terminates employment within ninety (90)
days following the end of the period within which the Employer was entitled to remedy the condition constituting Good Reason but
failed to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The &ldquo;Termination Benefits Period&rdquo; shall be <U>the
lesser of</U> (x) the remainder of the Term and (y) six (6) months; <I>provided that</I> in the event that the Executive commences
any employment during the Termination Benefits Period, the benefits provided under Section 7(b)(ii) shall cease effective as of
the date Executive qualifies for group health plan benefits in his new employment.&nbsp;&nbsp;The Employer&rsquo;s liability for
Salary continuation pursuant to Section 7(b)(i) shall not be reduced by the amount of any severance pay paid to the Executive pursuant
to any severance pay plan or stay bonus plan of the Employer. Notwithstanding the foregoing, nothing in this Section 7(b) shall
be construed to affect the Executive&rsquo;s right to receive COBRA continuation entirely at the Executive&rsquo;s own cost to
the extent that the Executive may continue to be entitled to COBRA continuation after Employer-paid premiums cease.&nbsp;&nbsp;The
Executive shall be obligated to give prompt notice of the date of commencement of any employment during the Termination Benefits
Period and shall respond promptly to any reasonable inquiries concerning any employment in which the Executive engages during the
Termination Benefits Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any Section 409A payments which are subject to execution of
a waiver and release which may be executed and/or revoked in a calendar year following the calendar year in which the payment event
(such as termination of employment) occurs shall commence payment only in the calendar year in which the release revocation period
ends as necessary to comply with Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by Reason of Cause, Death, Disability, Voluntary Termination or Expiration of Term</U>.&nbsp;&nbsp;If the Executive&rsquo;s employment
is terminated for any reason other than by the Employer without Cause under Section 6(b), including by reason of the Employer&rsquo;s
election not to extend the Initial Term, the Employer shall have no further obligation to the Executive other than payment of his
Accrued Compensation and any payment required by Section 7(d) below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
For Compensation Earned After the Term</U>. In the event that, following the termination of the Executive&rsquo;s employment for
any reason other than for Cause,&nbsp;&nbsp;the Executive becomes entitled to receive compensation due to the occurrence of an
event after such termination but during the applicable measurement period therefor, the Employer shall, pay to the Executive the
applicable amount and form of compensation, as set forth elsewhere in this Agreement, as follows: with respect to the annual incentive
bonus, an amount equal to a pro-rated portion of the annual incentive bonus Executive otherwise would have been paid for the fiscal
year (or portion thereof for the Stub Year (as defined in Exhibit A)) in which such termination of employment occurs, payable when
the annual incentive bonus would otherwise have been paid to Executive pursuant to Section 4(b), based upon (x) actual performance
for such fiscal year (or Stub Year), as determined at the end of such fiscal year (or Stub Year) and (y) the percentage of such
fiscal year (or Stub Year) that shall have elapsed through the date of Executive's termination of employment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information, Nonsolicitation and Cooperation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information</U>.&nbsp;&nbsp;As used in this Agreement, &ldquo;Confidential Information&rdquo; means proprietary information of
the Employer which is of value to the Employer in the course of conducting its business and the disclosure of which could result
in a competitive or other disadvantage to the Employer.&nbsp;&nbsp;Confidential Information includes, without limitation, financial
information, reports, and forecasts; inventions, improvements and other intellectual property; trade secrets; know-how; designs,
processes or formulae; software; market or sales information or plans; customer lists; and business plans, prospects and opportunities
(such as possible acquisitions or dispositions of businesses or facilities) which have been discussed or considered by the management
of the Employer.&nbsp;&nbsp;Confidential Information includes information developed by the Executive in the course of the Executive&rsquo;s
employment by the Employer, as well as other information to which the Executive may have access in connection with the Executive&rsquo;s
employment.&nbsp;&nbsp;Confidential Information also includes the confidential information of others with which the Employer has
a business relationship.&nbsp;&nbsp;Notwithstanding the foregoing, Confidential Information does not include (i)&nbsp;information
in the public domain, unless due to breach of the Executive&rsquo;s duties under Section 8(b), or (ii)&nbsp;information obtained
in good faith by the Executive from a third party who was lawfully in possession of such information and not subject to an obligation
of confidentiality owed to the Employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duty
of Confidentiality</U>.&nbsp;&nbsp;The Executive understands and agrees that the Executive&rsquo;s employment creates a relationship
of confidence and trust between the Executive and the Employer with respect to all Confidential Information.&nbsp;&nbsp;At all
times, both during the Executive&rsquo;s employment with the Employer and after termination, the Executive will keep in confidence
and trust all such Confidential Information, and will not use or disclose any such Confidential Information without the written
consent of the Employer, except (i)&nbsp;as may be necessary in the ordinary course of performing the Executive&rsquo;s duties
to the Employer or (ii)&nbsp;as may be required in response to a valid order by a court or other governmental body or as otherwise
required by law (provided that if the Executive is so required to disclose the Confidential Information, the Executive shall (i)&nbsp;immediately
notify the Employer of such required disclosure sufficiently in advance of the intended disclosure to permit the Employer to seek
a protective order or take other appropriate action, (ii)&nbsp;cooperate in any effort by the Employer to obtain a protective order
or other reasonable assurance that confidential treatment will be afforded the Confidential Information).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Documents,
Records, etc</U>.&nbsp;&nbsp;All documents, records, data, apparatus, equipment and other physical property, whether or not pertaining
to Confidential Information, which are furnished to the Executive by the Employer or are produced by the Executive in connection
with the Executive&rsquo;s employment will be and remain the sole property of the Employer.&nbsp;&nbsp;The Executive will return
to the Employer all such materials and property as and when requested by the Employer.&nbsp;&nbsp;In any event, the Executive will
return all such materials and property immediately upon termination of the Executive&rsquo;s employment for any reason.&nbsp;&nbsp;The
Executive will not retain with the Executive any such material or property or any copies thereof after such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Nonsolicitation</U>.&nbsp;&nbsp;During
the Term and for six-months thereafter, the Executive (i) will refrain from directly or indirectly employing, attempting to employ,
recruiting or otherwise soliciting, inducing or influencing any person to leave employment with the Employer (other than subordinate
employees whose employment was terminated in the course of the Executive&rsquo;s employment with the Employer); and (ii) will refrain
from soliciting or encouraging any customer or supplier to terminate or otherwise modify adversely its business relationship with
the Employer.&nbsp;&nbsp;The Executive understands that the restrictions set forth in this Section 8(d) are intended to protect
the Employer&rsquo;s interest in its Confidential Information and established employee, customer and supplier relationships and
goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third-Party
Agreements and Rights</U>.&nbsp;&nbsp;The Executive hereby confirms that the Executive is not bound by the terms of any agreement
with any previous employer or other party which restricts in any way the Executive&rsquo;s use or disclosure of information or
the Executive&rsquo;s engagement in any business.&nbsp;&nbsp;The Executive represents to the Employer that the Executive&rsquo;s
execution of this Agreement, the Executive&rsquo;s employment with the Employer and the performance of the Executive&rsquo;s proposed
duties for the Employer will not violate any obligations the Executive may have to any such previous employer or other party.&nbsp;&nbsp;In
the Executive&rsquo;s work for the Employer, the Executive will not disclose or make use of any information in violation of any
agreements with or rights of any such previous employer or other party, and the Executive will not bring to the premises of the
Employer any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment
or other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation and Regulatory Cooperation</U>.&nbsp;&nbsp;During and after the Executive&rsquo;s employment,
the Executive shall cooperate reasonably with requests from the Employer, or the Employer&rsquo;s legal counsel, in the defense
or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Employer
which relate to events or occurrences that transpired while the Executive was employed by the Employer.&nbsp;&nbsp;The Executive&rsquo;s
cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel
to prepare for discovery or trial and to act as a witness on behalf of the Employer at mutually convenient times.&nbsp;&nbsp;During
and after the Executive&rsquo;s employment, the Executive also shall cooperate fully with the Employer in connection with any investigation
or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences
that transpired while the Executive was employed by the Employer.&nbsp;&nbsp;The Employer shall reimburse the Executive for any
reasonable out-of-pocket expenses incurred in connection with the Executive&rsquo;s performance of obligations pursuant to this
Section 8(f), and if the Executive spends more than ten (10) hours in any calendar month in performance of these obligations, the
Employer shall pay the Executive $500 per hour for each part of an hour over ten (10) hours in such calendar month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunction</U>.&nbsp;&nbsp;The
Executive agrees that it would be difficult to measure any damages caused to the Employer which might result from any breach by
the Executive of the promises set forth in this Section 8, and that in any event money damages may be an inadequate remedy for
any such breach.&nbsp;&nbsp;Accordingly, subject to Section 9 of this Agreement, the Executive agrees that if the Executive breaches,
or proposes to breach, any portion of this Agreement, the Employer shall be entitled, in addition to all other remedies that it
may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual
damage to the Employer and without the need to post a bond or other security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Arbitration
of Disputes</U>.&nbsp;&nbsp;In the event of any dispute or controversy arising out of, or relating to, this Agreement, the parties
hereto agree to submit such dispute or controversy to binding arbitration pursuant to either the JAMS Streamlined (for claims under
$250,000.00) or the JAMS Comprehensive (for claims over $250,000.00) Arbitration Rules and Procedures, except as modified herein,
including the Optional Appeal Procedure.&nbsp;&nbsp;A sole neutral arbitrator shall be selected from the list (the &ldquo;List&rdquo;)
of arbitrators supplied by J.A.M.S. (&ldquo;<U>JAMS</U>&rdquo;) Los Angeles County, California office, or any successor entity,
or if it no longer exists, from a List supplied by the ADR Services, Inc., in Los Angeles, California (&ldquo;ADR&rdquo;) following
written request by any party hereto.&nbsp;&nbsp;If the parties hereto after notification of the other party(-ies) to such dispute
cannot agree upon an arbitrator within thirty (30) days following receipt of the List by all parties to such arbitration, then
either party may request, in writing, that JAMS or ADR, as appropriate, appoint an arbitrator within ten (10) days following receipt
of such request (the &ldquo;Arbitrator&rdquo;).&nbsp;&nbsp;The arbitration shall take place in Los Angeles County, California,
at a place and time mutually agreeable to the parties or if no such agreement is reached within ten (10) days following notice
from the Arbitrator, at a place and time determined by the Arbitrator.&nbsp;&nbsp;Such arbitration shall be conducted in accordance
with the Streamlined Arbitration Rules and Procedures of JAMS then in effect, and Section 1280 et seq. of the California Code of
Civil Procedure, or if applicable, the Commercial Arbitration Rules of ADR then in effect.&nbsp;&nbsp;The preceding choice of venue
is intended by the parties to be mandatory and not permissive in nature, thereby precluding the possibility of litigation between
the parties with respect to or arising out of this Agreement in any jurisdiction other than that specified in this Section.&nbsp;&nbsp;Each
party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to venue
with respect to any proceeding brought in accordance with this Section, and stipulates that the Arbitrator shall have in personam
jurisdiction and venue over each of them for the purpose of litigating any dispute, controversy, or proceeding arising out of or
related to this Agreement.&nbsp;&nbsp;Each party hereby authorizes and accepts service of process sufficient for personal jurisdiction
in any action against it as contemplated by this Section by registered or certified mail, return receipt requested, postage prepaid,
to its address for the giving of notices as set forth in this Agreement.&nbsp;&nbsp;The decision of the Arbitrator shall be final
and binding on all the parties to the arbitration, shall be non-appealable and may be enforced by a court of competent jurisdiction.&nbsp;&nbsp;The
prevailing party shall be entitled to recover from the non-prevailing party reasonable attorney&rsquo;s fees, as well as its costs
and expenses.&nbsp;&nbsp;The Arbitrator may grant any remedy appropriate including, without limitation, injunctive relief or specific
performance.&nbsp;&nbsp;Notwithstanding any of the foregoing, the Employer may seek a temporary restraining order or a preliminary
injunction as contemplated in Section 8(g) herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Integration</U>.&nbsp;&nbsp;This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
agreements between the parties with respect to any related subject matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment;
Successors and Assigns, etc</U>.&nbsp;&nbsp;Except as otherwise provided in this Section 11, neither the Employer nor the Executive
may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent
of the other party; provided, in connection with effecting any reorganization, consolidation, or merger with or into any other
corporation, partnership, organization or other entity, or any transfer of all or substantially all of the Employer&rsquo;s properties
or assets to any other corporation, partnership, organization or other entity, the Employer may assign the Employer&rsquo;s rights
under this Agreement to the acquiring or surviving entity and shall require the assumption of the Employer&rsquo;s obligations
hereunder by the acquiring or surviving entity for the benefit of the Executive (it being understood that Employer need not require
such assumption where the assumption occurs by operation of law as a result of the transaction). Any failure by the Employer to
obtain such assumption of the Employer&rsquo;s obligations by any surviving or acquiring entity shall constitute a material breach
of this Agreement.&nbsp;&nbsp;This Agreement shall inure to the benefit of and be binding upon the Employer and the Executive,
their respective successors, executors, administrators, heirs and permitted assigns. It is anticipated that the Executive&rsquo;s
employer of record and salary and bonus payor may be the Employer or another subsidiary, as determined by the Employer and communicated
to Executive from time to time, but the Employer and such other subsidiary will be jointly and severally liable for all amounts
payable to Executive hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Enforceability</U>.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement)
shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement,
or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,
shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent
permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver</U>.&nbsp;&nbsp;No
waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party.&nbsp;&nbsp;The failure
of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of
this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent
breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.&nbsp;&nbsp;Any
notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to the Executive at the Executive&rsquo;s last residential address the Executive has filed in writing with the
Employer or, in the case of the Employer, at its main offices, attention of the Chairman of the Board, and shall be effective on
the date of delivery in person or by courier or three (3) days after the date mailed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third
Party Beneficiary; Amendment</U>.&nbsp;&nbsp;The Executive and the Employer acknowledge and agree that no third party shall have
any rights or benefits under this Agreement.&nbsp;&nbsp;This Agreement may be amended or modified only by a written instrument
signed by the Executive and the Employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>.&nbsp;&nbsp;This contract has been entered into in the State of California and shall be construed under and be governed
in all respects by the laws of the State of California, without giving effect to the conflict of laws principles of such state;
<U>provided</U> that Section 19 shall be governed by the laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.&nbsp;&nbsp;This
Agreement may be executed in any number of original, facsimile or other electronic counterparts, each of which when so executed
and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Prior Agreements</U>.&nbsp;&nbsp;The Executive hereby represents and warrants to the Employer and that the execution of this Agreement
by the Executive, the Executive&rsquo;s employment by the Employer, and the performance of the Executive&rsquo;s duties hereunder
will not violate or constitute a breach of any agreement, including any non-competition agreement, invention or confidentiality
agreement, with a former employer, client or any other person or entity.&nbsp;&nbsp;Further, the Executive agrees to indemnify
the Employer for any loss, including, but not limited to, reasonable attorneys&rsquo; fees and expenses, that the Employer may
incur based upon or arising out of the Executive&rsquo;s breach of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp; 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.&nbsp;&nbsp;The
Employer shall indemnify the Executive against and hold the Executive harmless from any costs, liabilities, losses and exposures
for the Executive&rsquo;s services as an employee, officer and director of the Employer (or any successor in interest thereof),
whether before or after the Effective Date, to the maximum extent permitted under the Delaware General Corporate Law.&nbsp;&nbsp;If
the Executive is made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by the Employer against the Executive), by reason of the fact that the Executive is or was
performing services to the Employer under this Agreement or while acting as an executive officer of the Employer, the Employer
shall indemnify the Executive against all expenses (including reasonable attorneys&rsquo; fees), judgments, fines and amounts paid
in settlement, and advance payment to Executive of any and all such amounts as actually and reasonably incurred by the Executive
in connection therewith, to the maximum extent permitted under the Delaware General Corporation Law.&nbsp;&nbsp;If the Executive
is made a party to any third-party action, complaint, suit or proceeding, the Executive shall given prompt notice thereof to the
Employer, and the Employer shall have the right to assume and control the defense of such action, complaint, suit or proceeding;
provided that if legal counsel selected by the Employer shall have a conflict of interest that prevents such counsel from representing
the Executive, the Executive may engage separate counsel and the Employer shall reimburse all reasonable attorneys&rsquo; fees
and reasonable expenses of such separate counsel.&nbsp;&nbsp;Notwithstanding the foregoing, the Employer shall not have, and the
Executive acknowledges and agrees that the Employer does not have, any obligation to indemnify the Executive under this Section
or under its certificate of incorporation or bylaws, with respect to (a) any breach of representation, warranty or covenant committed
by the Executive under this Agreement, or (b) any action or inaction by the Executive where the Executive failed to act in good
faith and in a manner the Executive reasonably believed to be in, or not opposed to, the best interests of the Employer, or with
respect to any criminal action or proceeding, where the Executive had reasonable cause to believe that his conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Directors&rsquo;
and Officers&rsquo; Insurance</U>. As soon as reasonably practicable following the Effective Date, the Employer shall use commercially
reasonable efforts to obtain directors&rsquo; and officers&rsquo; insurance from a reputable insurance company with such coverage
amounts and policy terms as is customary for public companies with market valuations similar to the Employer, as determined by
the Employer in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>
Section 954 of the Dodd Frank Act</U>. This Agreement and all other Compensation of Executive are intended to comply with the &ldquo;clawback
obligations&rdquo; of Section 954 of the Dodd Frank Act ((including the related regulations, &ldquo;<U>Section 954</U>&rdquo;).
If the Employer&rsquo;s financial statements must be restated, to the extent and only to the extent required by Section 954 (if
applicable), the Employer shall be entitled to recover from Executive, and Executive agrees to promptly repay, any incentive-based
compensation which would not have been earned under the restated financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
409A Compliance</U>.&nbsp;&nbsp;Unless otherwise expressly provided, any payment of compensation by the Employer to the Executive,
whether pursuant to this Agreement or otherwise, shall be made no later than the fifteenth (15th) day of the third (3rd) month
(i.e., 2&frac12; months) after the later of the end of the calendar year or the Employer&rsquo;s fiscal year in which the Executive&rsquo;s
right to such payment vests (i.e., is not subject to a &ldquo;substantial risk of forfeiture&rdquo; for purposes of Section 409A).&nbsp;&nbsp;Each
payment and each installment of any bonus or severance payments provided for under this Agreement shall be treated as a separate
payment for purposes of application of Section 409A. The severance benefits are intended to satisfy the exemptions from application
of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and any ambiguities
herein shall be interpreted accordingly. However, to the extent such exemptions are not available and any amounts payable by the
Employer to the Executive constitute &ldquo;nonqualified deferred compensation&rdquo; (within the meaning of Section 409A) such
payments are intended to comply with the requirements of Section 409A, and shall be interpreted in accordance therewith. Neither
party individually or in combination may accelerate, offset or assign any such deferred payment, except in compliance with Section
409A. No amount shall be paid prior to the earliest date on which it is permitted to be paid under Section 409A and the Executive
shall have no discretion with respect to the timing of payments except as permitted under Section 409A. In the event that the Executive
is determined to be a &ldquo;key employee&rdquo; (as defined and determined under Section 409A) of the Employer at a time when
its stock is deemed to be publicly traded on an established securities market, payments determined to be &ldquo;nonqualified deferred
compensation&rdquo; payable upon separation from service shall be made no earlier than (a) the first (1st) day of the seventh (7th)
complete calendar month following such termination of employment, or (b) the Executive&rsquo;s death, consistent with the provisions
of Section 409A.&nbsp; Any payment delayed by reason of the prior sentence shall be paid out in a single lump sum at the end of
such required delay period in order to catch up to the original payment schedule.&nbsp;&nbsp;All expense reimbursement or in-kind
benefits subject to Section 409A provided under this Agreement or, unless otherwise specified in writing, under any Employer program
or policy, shall be subject to the following rules: (i) the amount of expenses eligible for reimbursement or in-kind benefits provided
during one calendar year may not affect the benefits provided during any other year; (ii) reimbursements shall be paid no later
than the end of the calendar year following the year in which the Executive incurs such expenses, and the Executive shall take
all actions necessary to claim all such reimbursements on a timely basis to permit the Employer to make all such reimbursement
payments prior to the end of said period, and (iii) the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit.&nbsp;&nbsp;The Executive shall be responsible for the payment of all taxes applicable to payments
or benefits received from the Employer.&nbsp;&nbsp;It is the intent of the Employer that the provisions of this Agreement and all
other plans and programs sponsored by the Employer be interpreted to comply in all respects with Section 409A; however, the Employer
shall have no liability to the Executive, or any successor or beneficiary thereof, in the event taxes, penalties or excise taxes
may ultimately be determined to be applicable to any payment or benefit received by the Executive or any successor or beneficiary
thereof, except to the extent resulting from the Employer&rsquo;s negligence or bad faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">23.&#9;<U>Set Off</U>. The Employer's obligation
to pay Executive the amounts provided and to make the arrangements provided hereunder shall be subject to set-off, counterclaim
or recoupment of amounts owed by Executive to the Employer or its Subsidiaries to the extent permitted by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">24.&#9;<U>Withholding Obligations</U>. The
Employer, or any other entity making a payment, may withhold and make such deductions from any amounts payable under this Agreement
such federal, state and local taxes as may be required to be withheld or deducted from time to time pursuant to any applicable
law, governmental regulation and/or order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">25.&#9;<U>Interpretation</U>. Executive
understands that this Agreement is deemed to have been drafted jointly by the parties and that the parties had a reasonable opportunity
to retain legal counsel for such purpose. Any uncertainty or ambiguity shall not be construed for or against any party based on
attribution of drafting to any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">26.&#9;<U>Headings</U>. Titles or captions
of Sections contained in this Agreement are inserted only as a matter of convenience and for reference, and in no way define, limit,
extend or describe the scope of this Agreement or the intent of any provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">27.&#9;<U>Survival of Provisions</U>. All
other rights and obligations of the parties hereto, other than those applicable by their express terms only during the Term, shall
survive any termination or expiration of this Agreement or of Executive&rsquo;s employment with the Employer, and shall be fully
enforceable thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">28.&#9;<U>Section 280G Payments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&#9;If any payment or benefit Executive
will or may receive from the Employer or otherwise (a &ldquo;280G Payment&rdquo;) would (i) constitute a &ldquo;parachute payment&rdquo;
within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), and (ii) but for
this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the &ldquo;Excise Tax&rdquo;), then any such 280G
Payment pursuant to this Agreement (a &ldquo;Payment&rdquo;) shall be equal to the Reduced Amount. The &ldquo;Reduced Amount&rdquo;
shall be either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject
to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount
determined by clause (x) or by clause (y)), after taking into account all applicable federal, state and local employment taxes,
income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive&rsquo;s receipt,
on an after-tax basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to
the Excise Tax. If a reduction in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined
pursuant to clause (x) of the preceding sentence, the reduction shall occur in the manner (the &ldquo;Reduction Method&rdquo;)
that results in the greatest economic benefit for Executive. If more than one method of reduction will result in the same economic
benefit, the items so reduced will be reduced pro rata (the &ldquo;Pro Rata Reduction Method&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(b)&#9;Notwithstanding any provision
of Section 28(a) to the contrary, if the Reduction Method or the Pro Rata Reduction Method would result in any portion of the Payment
being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to Section 409A, then the
Reduction Method and/or the Pro Rata Reduction Method, as the case may be, shall be modified so as to avoid the imposition of taxes
pursuant to Section 409A as follows: (A) as a first priority, the modification shall preserve to the greatest extent possible,
the greatest economic benefit for Executive as determined on an after-tax basis; (B) as a second priority, Payments that are contingent
on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before Payments that are not contingent
on future events; and (C) as a third priority, Payments that are &ldquo;deferred compensation&rdquo; within the meaning of Section
409A shall be reduced (or eliminated) before Payments that are not deferred compensation within the meaning of Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(c)&#9;Unless Executive and the Employer
agree on an alternative accounting firm or law firm, the accounting firm engaged by the Employer for general tax compliance purposes
as of the day prior to the effective date of the Change of Control shall perform the foregoing calculations. If the accounting
firm so engaged by the Employer is serving as accountant or auditor for the individual, entity or group effecting the Change of
Control, the Employer shall appoint a nationally recognized accounting or law firm to make the determinations required hereunder.
The Employer shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder.
The Employer shall use commercially reasonable efforts to cause the accounting or law firm engaged to make the determinations hereunder
to provide its calculations, together with detailed supporting documentation, to Executive and the Employer within fifteen (15)
calendar days after the date on which Executive&rsquo;s right to a 280G Payment becomes reasonably likely to occur (if requested
at that time by Executive or the Employer) or such other time as requested by Executive or the Employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#9;(d)&#9;If Executive receives a Payment
for which the Reduced Amount was determined pursuant to clause (x) of Section 28(a) and the Internal Revenue Service determines
thereafter that some portion of the Payment is subject to the Excise Tax, Executive shall promptly return to the Employer a sufficient
amount of the Payment (after reduction pursuant to clause (x) of Section 28(a)) so that no portion of the remaining Payment is
subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant to clause (y) of Section 28(a),
Executive shall have no obligation to return any portion of the Payment pursuant to the preceding sentence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">IN WITNESS WHEREOF, this Agreement has been
executed by the Employer and by the Executive as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">EMPLOYER</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Mandalay Digital Group, Inc., </B>a Delaware corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;CEO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">EXECUTIVE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Dan L. Halvorson&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Dan L. Halvorson</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Benchmarks for Annual Incentive Bonus for Stub Year 2012
and full year 2013.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors of Employer (or any compensation committee
thereof) shall establish benchmarks, targets and/or milestones, in each case its sole discretion after consultation with the Executive,
which shall serve as the basis for payment of Executive&rsquo;s annual bonus pursuant to Section 4(b) of the Agreement to which
this Exhibit A is attached. Unless otherwise determined by the Board of Directors of Employer, the Board of Directors shall establish
a revenue and an EBITDA target for the Employer for the remainder of 2012 (the &ldquo;<U>Stub Year</U>&rdquo;) within thirty (30)
days of the Effective Date, and for fiscal year 2013 by March 31, 2013, in each case its sole discretion after consultation with
the Executive. Revenue and EBITDA shall be as defined by the Board of Directors (or any compensation committee thereof) in its
reasonable discretion. The Board of Directors (or any compensation committee thereof) shall communicate each applicable target
to the Executive in writing promptly after it is determined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the revenue target for the applicable period is achieved,
as reasonably determined by the Employer, within 90 days of the end of such period, then Executive shall receive a bonus payment
equal to 50% of his Salary due for that applicable period. For example, if the revenue target is met for the Stub Year, then Executive
shall receive a bonus payment equal to 50% of the Salary due to Executive with respect to the Stub Year. And if the revenue target
is met for fiscal 2013, then Executive shall receive a bonus payment equal to 50% of the Salary due to Executive with respect to
fiscal 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the EBITDA target for the applicable period is achieved,
as reasonably determined by the Employer, within 90 days of the end of such period, then Executive shall receive a bonus payment
equal to 50% of his Salary due for that applicable period. For example, if the EBITDA target is met for the Stub Year, then Executive
shall receive a bonus payment equal to 50% of the Salary due to Executive with respect to the Stub Year. And if the EBITDA target
is met for fiscal 2013, then Executive shall receive a bonus payment equal to 50% of the Salary due to Executive with respect to
fiscal 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The total annual incentive bonus for the Stub Year of the Term
shall not exceed 100% of the Salary due to Executive for the Stub Year, and the total annual incentive bonus for 2013 shall not
exceed 100% of the Salary due to Executive for 2013, unless otherwise provided by the Board of Directors (or any compensation committee
thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For all periods after 2013 during the Term, the Board of Directors
(or any compensation committee thereof) and the Executive shall establish the applicable performance targets and measurement periods,
and the Board of Directors (or any compensation committee thereof) shall reasonably determine whether such targets have been achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-underline-style: none; vertical-align: baseline">304595620.1</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>EMPLOYMENT
AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This EMPLOYMENT AGREEMENT (the &ldquo;<U>Agreement</U>&rdquo;)
is made effective as of August 1, 2012 (the &ldquo;<U>Effective Date</U>&rdquo;) and entered into on September 16, 2012 (the &ldquo;<U>Signing
Date</U>&rdquo;), by and among Mandalay Digital Group, Inc. (formerly NeuMedia, Inc.), a Delaware corporation (the &ldquo;<U>Employer</U>&rdquo;),
Digital Turbine Group, LLC (&ldquo;<U>DT</U>&rdquo;) and William Stone<B> </B>(the &ldquo;<U>Executive</U>&rdquo;).&nbsp;&nbsp;In
consideration of the mutual covenants contained in this Agreement, the Employer and the Executive agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employment</U>.&nbsp;&nbsp;The
Employer agrees to employ the Executive and the Executive agrees to be employed by the Employer on the terms and conditions set
forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capacity</U>.&nbsp;&nbsp;The
Executive shall serve the Employer as Chief Executive Officer of DT.&nbsp;&nbsp;As Chief Executive Officer of DT, the Executive
shall be responsible for the general supervision, management and control of the DT&rsquo;s business, subject to the direction of
the Board of Directors of the Employer. The Executive shall report directly to the Chief Executive Officer of the Employer. At
the reasonable request of Board of Directors or the Chief Executive Officer of the Employer, the Executive shall provide services
to subsidiaries and affiliates of the Employer or DT, without additional compensation becoming payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Term</U>.&nbsp;&nbsp;Subject
to the provisions of Section 6, the term of employment pursuant to this Agreement shall be three (3) years, i.e., thirty six (36)
calendar months, from the Effective Date (the &ldquo;<U>Term</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
and Benefits</U>.&nbsp;&nbsp;The regular compensation and benefits payable to the Executive under this Agreement shall be as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Salary</U>.&nbsp;&nbsp;For
all services rendered by the Executive under this Agreement, the Employer shall pay the Executive an annual salary (the &ldquo;<U>Salary</U>&rdquo;)
at the annual rate of Three Hundred Fifty Thousand Dollars ($350,000).&nbsp;&nbsp;The Executive&rsquo;s Salary shall be payable
in periodic installments in accordance with the Employer&rsquo;s usual practice for its employees, but in no event less than monthly
over the year in which the Salary is earned.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bonuses</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Signing
Bonus</U>. On the Signing Date (or if it is not a business day, on the first business day after the Signing Date), the Executive
shall receive a $50,000 signing bonus, which is deemed fully earned on the Signing Date; and, during the Term, Executive shall
earn an additional bonus (the &ldquo;<U>Deferred Signing Bonus</U>&rdquo;) of $8,333.33 per month during the seventh through twelfth
months of the first year of the Term (i.e., six months maximum, with the specific dates on which such amounts are earned being
March 1, April 1, May 1, June 1, July 1 and August 1, 2013, and the payment date being the next regular installment after each
date a bonus is earned, in accordance with the Employer&rsquo;s usual payment practices), for total signing bonuses of not less
than $50,000 and not to exceed $100,000 in the aggregate if the full Deferred Singing Bonus is earned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual
Bonus</U>. The Executive shall be entitled to be paid an annual incentive bonus in cash in an amount of up to 100% of the Executive&rsquo;s
Salary based upon satisfaction of performance-related milestones, determined by the Board of Directors and the Executive, and subject
to the additional provisions of Exhibit A-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iii)&#9;<U>Contract Bonus</U>.
Executive shall also receive an additional bonuses related to agreements signed with carriers and Original Equipment Manufacturers
(respectively, the &ldquo;<U>Carrier Contract Bonus</U>&rdquo; and the &ldquo;<U>OEM Contract Bonus</U>&rdquo;), to the extent
provided on Exhibit A-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
bonus payable under this subsection (b) shall vest and accrue upon the achievement of the specified performance criteria and shall
be paid on or within thirty (30) days of such vesting and accrual date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regular
Benefits</U>.&nbsp;&nbsp;The Executive shall also be entitled to participate in any qualified retirement plans, deferred compensation
plans, stock option and incentive plans, stock purchase plans, group and executive medical insurance plans (i.e., coverage for
the Executive and family), life insurance plans, disability income plans, retirement plans, vacation plans, expense reimbursement
plans and other benefit plans which the Employer may from time to time have in effect for any, all or most of its senior executives
(collectively &ldquo;<U>Employer Benefit Plans</U>&rdquo;).&nbsp;&nbsp;Such participation shall be subject to the terms of applicable
plan documents, generally applicable policies of the Employer, applicable law and the discretion of the Board of Directors, the
Compensation Committee or any administrative or other committee provided for in or contemplated by any such plan.&nbsp;&nbsp;Nothing
contained in this Agreement shall be construed to create any obligation on the part of the Employer to establish any such plans
or to maintain the effectiveness of any such plans which may be in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reimbursement
of Business Expenses</U>.&nbsp;&nbsp;The Employer shall reimburse the Executive for all reasonable expenses incurred by the Executive
in performing services during the Term, in accordance with the Employer&rsquo;s policies and procedures for its senior executive
officers, as in effect from time to time, including but not limited to, business class air travel (or, if unavailable, first class),
meals and entertainment, fuel costs for transportation, wireless mobile communications, and personal computer equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock Grant</U>.&nbsp;&nbsp;On the Signing Date, the Employer shall grant the Executive 1,500,000 shares of restricted common
stock of the Employer, under and subject to the terms and conditions specified in the Company&rsquo;s 2011 Equity Incentive Plan
and in a Restricted Stock Agreement in substantially the form of Exhibit B (the &ldquo;<U>Restricted Stock Agreement</U>&rdquo;),
which shall vest on a monthly, pro-rata basis over thirty-six (36) months beginning as of the Effective Date, as further specified
in the Restricted Stock Agreement; <U>provided</U>, <U>however</U>, <U>that</U> all unvested shares of restricted common stock
shall vest immediately upon the sale of all or substantially all of the assets of the Employer, upon the merger or reorganization
of the Employer following which the equityholders of the Employer immediately prior to the consummation of such merger or reorganization
collectively own less than 50% of the voting power of the resulting entity, or upon the sale of equity securities of the Employer
representing 50% or more of the voting power of the Employer or 50% or more of the economic interest in the Employer in a single
transaction or in a series of related transactions (i.e., a &ldquo;<U>Change of Control</U>&rdquo;).&nbsp; Subject to the approval
of the Employer&rsquo;s Board of Directors, in its sole and exclusive discretion, the Employer may extend a non-interest bearing
loan to the Executive equal to the Executive&rsquo;s grossed up aggregate federal and state income tax liability attributable to
the issued shares and bonus subject to, among other things: (i) a determination of the amount of the tax due; (ii) approval of
the terms of such loan; and (iii) the Employer&rsquo;s financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)<U> Exclusivity of Salary and Benefits</U>.&nbsp;&nbsp;The
Executive shall not be entitled to any payments or benefits other than those provided under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Extent
of Service</U>.&nbsp;&nbsp;During the Executive&rsquo;s employment under this Agreement, the Executive shall, subject to the direction
and supervision of the Board of Directors, devote the Executive&rsquo;s full business time, best efforts and business judgment,
skill and knowledge to the advancement of the Employer&rsquo;s interests and to the discharge of the Executive&rsquo;s duties and
responsibilities under this Agreement.&nbsp;&nbsp;The Executive shall not engage in any other business activity, except as may
be approved by the Board of Directors; <U>provided</U>, that nothing in this Agreement shall be construed as preventing the Executive
from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investing
the Executive&rsquo;s personal assets in any non-competitive business enterprise, company or other entity in such form or manner
as shall not require any material personal time commitment on the Executive&rsquo;s part in connection with the operations or affairs
of such other enterprise, company or other entity in which such investments are made; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;engaging
in religious, charitable or other community or non-profit activities that do not impair the Executive&rsquo;s ability to fulfill
the Executive&rsquo;s duties and responsibilities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>.&nbsp;&nbsp;Notwithstanding
the provisions of Section 3, the Executive&rsquo;s employment under this Agreement shall terminate under the following circumstances
set forth in this Section 6. For purposes of this Agreement, the date of the Executive&rsquo;s termination (the &ldquo;<U>Termination
Date</U>&rdquo;) shall mean the date of the Executive&rsquo;s &ldquo;separation from service&rdquo; as such term is defined under
Section 409A of the Internal Revenue Code of 1986, as amended (&ldquo;<U>Section 409A</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer for Cause</U>.&nbsp;&nbsp;The Executive&rsquo;s employment under this Agreement may be terminated for Cause without
further liability on the part of the Employer effective immediately upon a vote of the Board of Directors and written notice to
the Executive.&nbsp;&nbsp;Only the following shall constitute &ldquo;Cause&rdquo; for such termination:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
act committed by the Executive against the Employer or any of its affiliates which involves fraud, willful misconduct, gross negligence
or insubordination; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
commission by the Executive of, or indictment for (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty
or fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer Without Cause</U>.&nbsp;&nbsp;Subject to the payment of Termination Benefits pursuant to Section 7(b), the Executive&rsquo;s
employment under this Agreement may be terminated by the Employer without Cause upon not less than fifteen (15) days&rsquo; prior
written notice to the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Death</U>.&nbsp;&nbsp;The
Executive&rsquo;s employment with the Employer shall terminate automatically upon his death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U>.&nbsp;&nbsp;If
the Executive shall become Disabled so as to be unable to perform the essential functions of the Executive&rsquo;s then existing
position or positions under this Agreement with or without reasonable accommodation, the Board of Directors may remove the Executive
from any responsibilities and/or reassign the Executive to another position with the Employer for the remainder of the Term or
during the period of such Disability.&nbsp;&nbsp;Notwithstanding any such removal or reassignment, the Executive shall continue
to receive the Executive&rsquo;s full Salary (less any disability pay or sick pay benefits to which the Executive may be entitled
under the Employer&rsquo;s policies) and benefits under Section 4(c) of this Agreement (except to the extent that the Executive
may be ineligible for one or more such benefits under applicable plan terms) for a period of time equal to twelve (12) months payable
at the same time as such amounts would otherwise have been paid to the Executive had he continued in his current capacity.&nbsp;&nbsp;If
the Executive is unable to perform substantial services of any kind for the Employer during this period, such period shall be considered
a paid leave of absence and the Executive shall have the contractual right to return to employment at any time during such period.&nbsp;&nbsp;If
the Executive&rsquo;s Disability continues beyond such twelve (12) month period, the Executive&rsquo;s employment may be terminated
by the Employer by reason of Disability at any time thereafter.&nbsp;&nbsp;For purposes hereof, the term &ldquo;Disabled&rdquo;
or &ldquo;Disability&rdquo; shall mean a written determination that the Executive, as certified by at least two (2) duly licensed
and qualified physicians, one (1) approved by the Board of Directors of the Employer and one (1) physician approved by the Executive
(the &ldquo;Examining Physicians&rdquo;), or, in the event of the Executive&rsquo;s total physical or mental disability, the Executive&rsquo;s
legal representative, that the Executive suffers from a physical or mental impairment that renders the Executive unable to perform
the Executive&rsquo;s regular personal duties under this Agreement and that such impairment can reasonably be expected to continue
for a period of six (6) consecutive months or for shorter periods aggregating one hundred and eighty (180) days in any twelve (12)
month period; <U>provided</U>, that the Executive&rsquo;s primary care physician may not serve as one of the Examining Physicians
without the consent of the Employer and the Executive (or the Executive&rsquo;s legal representation).&nbsp;&nbsp;The Executive
shall cooperate with any reasonable request of a physician to submit to a physical examination for purposes of such certification.&nbsp;&nbsp;Nothing
in this Section 6(d) shall be construed to waive the Executive&rsquo;s rights, if any, under existing law including, without limitation,
the Family and Medical Leave Act of 1993, 29 U.S.C. &sect;2601 <I>et seq</I>. and the Americans with Disabilities Act, 42 U.S.C.
&sect;12101 <I>et seq.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
Upon Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
Generally</U>.&nbsp;&nbsp;If the Executive&rsquo;s employment with the Employer is terminated for any reason during or upon expiration
of the Term, the Employer shall pay or provide to the Executive (or to his authorized representative or estate) (i) any earned
but unpaid Salary payable on the Termination Date, (ii) any bonus that has been accrued under Section 4(b) through the Termination
Date but not yet paid, payable at the same time such amounts would otherwise have been paid to the Executive (for clarity, no amounts
related to future periods or future performance shall be payable under this clause; any such amounts shall be payable only pursuant
to Section 7(d)), (iii) any unpaid expense reimbursements, payable in accordance with the Employer&rsquo;s reimbursement policies,
(iv) any accrued but unused vacation, payable on the Termination Date, (v) any vested benefits the Executive may have under any
of the Employer Benefit Plans, payable as specified in the applicable plan documents and (iv) except in connection with a termination
for Cause, the entire remaining balance of the Deferred Signing Bonus that has not been paid to Executive as of the Termination
Date (i.e., $50,000, less such portion of the Deferred Signing Bonus that has been paid to Executive as of the Termination Date)
(collectively, the &ldquo;<U>Accrued Compensation</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Employer Without Cause</U>.&nbsp;&nbsp;In the event of termination of the Executive&rsquo;s employment with the Employer
pursuant to Section 6(b) above prior to the expiration of the Term, and subject to the Executive&rsquo;s execution and delivery
of a release of any and all legal claims in a form satisfactory to the Employer within forty-five (45) days of the Termination
Date (the &ldquo;<U>Release Period</U>&rdquo;), the Employer shall provide to the Executive, in addition to the Accrued Compensation,
the following termination benefits (&ldquo;<U>Termination Benefits</U>&rdquo;) effective as of the final day of the Release Period:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;continuation
of the Executive&rsquo;s Salary at the rate and in accordance with the Employer&rsquo;s payroll practices then in effect pursuant
to Section 4(a); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;continuation
of any executive health and group health plan benefits to the extent authorized by and consistent with 29 U.S.C. &sect; 1161 et
seq. (commonly known as &ldquo;COBRA&rdquo;), subject to payment of premiums by the Employer to the extent that the Employer was
covering such premiums as of the Termination Date (if permitted by law without violation of applicable discrimination rules, or,
if not, the equivalent after-tax value payable as additional severance at the same time such premiums are otherwise payable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Termination Benefits set forth in subsections 7(b)(i) and
(ii) above shall continue effective <U>for the lesser of</U> (x) the remainder of the Term and (y) six (6) months (the &ldquo;<U>Termination
Benefits Period</U>&rdquo;); <I>provided that</I> in the event that the Executive commences any employment during the Termination
Benefits Period, the benefits provided under Section 7(b)(ii) shall cease effective as of the date Executive qualifies for group
health plan benefits in his new employment.&nbsp;&nbsp;The Employer&rsquo;s liability for Salary continuation pursuant to Section
7(b)(i) shall not be reduced by the amount of any severance pay paid to the Executive pursuant to any severance pay plan or stay
bonus plan of the Employer. Notwithstanding the foregoing, nothing in this Section 7(b) shall be construed to affect the Executive&rsquo;s
right to receive COBRA continuation entirely at the Executive&rsquo;s own cost to the extent that the Executive may continue to
be entitled to COBRA continuation after Employer-paid premiums cease.&nbsp;&nbsp;The Executive shall be obligated to give prompt
notice of the date of commencement of any employment during the Termination Benefits Period and shall respond promptly to any reasonable
inquiries concerning any employment in which the Executive engages during the Termination Benefits Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Employer acknowledges and agrees that under certain circumstances
involving the termination of the Executive&rsquo;s employment and/or a Change of Control transaction involving the Employer, the
Executive shall be entitled to accelerated vesting on his shares of capital stock of the Employer, all to the extent provided in
Section&nbsp;2(a) of that certain Restricted Stock Agreement, dated as of the date hereof, by and between the Employer and the
Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any Section 409A payments which are subject to execution of
a waiver and release which may be executed and/or revoked in a calendar year following the calendar year in which the payment event
(such as termination of employment) occurs shall commence payment only in the calendar year in which the release revocation period
ends as necessary to comply with Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by Reason of Cause, Death, Disability, Voluntary Termination or Expiration of Term</U>.&nbsp;&nbsp;If the Executive&rsquo;s employment
is terminated for any reason other than by the Employer without Cause under Section 6(b), including by reason of the Employer&rsquo;s
election not to extend the Term, the Employer shall have no further obligation to the Executive other than payment of his Accrued
Compensation.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
For Compensation Earned After the Term</U>. In the event that, following the termination of the Executive&rsquo;s employment for
any reason other than for Cause,&nbsp;&nbsp;the Executive becomes entitled to receive compensation due to the occurrence of an
event after the such termination but during the applicable measurement period therefor, the Employer shall, pay to the Executive
the applicable amount and form of compensation, as set forth elsewhere in this Agreement, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(i) with respect to the annual incentive
bonus, an amount equal to a pro-rated portion of the annual incentive bonus Executive otherwise would have been paid for the fiscal
year (or portion thereof for the Stub Year (as defined in Exhibit A-1)) in which such termination of employment occurs, payable
when the annual incentive bonus would otherwise have been paid to Executive pursuant to Section 4(b), based upon (x) actual performance
for such fiscal year (or Stub Year), as determined at the end of such fiscal year (or Stub Year) and (y) the percentage of such
fiscal year (or Stub Year) that shall have elapsed through the date of Executive's termination of employment; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">(ii) with respect to the OEM Contract
Bonus, an amount equal to the OEM Contract Bonus Executive otherwise would have been paid for DT entering the applicable OEM agreement,
payable when the OEM Contract bonus would otherwise have been paid to Executive pursuant to Section 4(b) and the terms of the OEM
Contract Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">For clarity, a Carrier Contract
Bonus that has accrued as of the termination date is payable under Accrued Compensation; and if it has not accrued as of the termination
date, then there is no future-related or pro-rated portion that is due under any circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information, Nonsolicitation and Cooperation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information</U>.&nbsp;&nbsp;As used in this Agreement, &ldquo;Confidential Information&rdquo; means proprietary information of
the Employer which is of value to the Employer in the course of conducting its business and the disclosure of which could result
in a competitive or other disadvantage to the Employer.&nbsp;&nbsp;Confidential Information includes, without limitation, financial
information, reports, and forecasts; inventions, improvements and other intellectual property; trade secrets; know-how; designs,
processes or formulae; software; market or sales information or plans; customer lists; and business plans, prospects and opportunities
(such as possible acquisitions or dispositions of businesses or facilities) which have been discussed or considered by the management
of the Employer.&nbsp;&nbsp;Confidential Information includes information developed by the Executive in the course of the Executive&rsquo;s
employment by the Employer, as well as other information to which the Executive may have access in connection with the Executive&rsquo;s
employment.&nbsp;&nbsp;Confidential Information also includes the confidential information of others with which the Employer has
a business relationship.&nbsp;&nbsp;Notwithstanding the foregoing, Confidential Information does not include (i)&nbsp;information
in the public domain, unless due to breach of the Executive&rsquo;s duties under Section 8(b), or (ii)&nbsp;information obtained
in good faith by the Executive from a third party who was lawfully in possession of such information and not subject to an obligation
of confidentiality owed to the Employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duty
of Confidentiality</U>.&nbsp;&nbsp;The Executive understands and agrees that the Executive&rsquo;s employment creates a relationship
of confidence and trust between the Executive and the Employer with respect to all Confidential Information.&nbsp;&nbsp;At all
times, both during the Executive&rsquo;s employment with the Employer and after termination, the Executive will keep in confidence
and trust all such Confidential Information, and will not use or disclose any such Confidential Information without the written
consent of the Employer, except (i)&nbsp;as may be necessary in the ordinary course of performing the Executive&rsquo;s duties
to the Employer or (ii)&nbsp;as may be required in response to a valid order by a court or other governmental body or as otherwise
required by law (provided that if the Executive is so required to disclose the Confidential Information, the Executive shall (i)&nbsp;immediately
notify the Employer of such required disclosure sufficiently in advance of the intended disclosure to permit the Employer to seek
a protective order or take other appropriate action, (ii)&nbsp;cooperate in any effort by the Employer to obtain a protective order
or other reasonable assurance that confidential treatment will be afforded the Confidential Information).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Documents,
Records, etc</U>.&nbsp;&nbsp;All documents, records, data, apparatus, equipment and other physical property, whether or not pertaining
to Confidential Information, which are furnished to the Executive by the Employer or are produced by the Executive in connection
with the Executive&rsquo;s employment will be and remain the sole property of the Employer.&nbsp;&nbsp;The Executive will return
to the Employer all such materials and property as and when requested by the Employer.&nbsp;&nbsp;In any event, the Executive will
return all such materials and property immediately upon termination of the Executive&rsquo;s employment for any reason.&nbsp;&nbsp;The
Executive will not retain with the Executive any such material or property or any copies thereof after such termination.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Nonsolicitation</U>.&nbsp;&nbsp;During
the Term and for six-months thereafter, the Executive (i) will refrain from directly or indirectly employing, attempting to employ,
recruiting or otherwise soliciting, inducing or influencing any person to leave employment with the Employer (other than subordinate
employees whose employment was terminated in the course of the Executive&rsquo;s employment with the Employer); and (ii) will refrain
from soliciting or encouraging any customer or supplier to terminate or otherwise modify adversely its business relationship with
the Employer.&nbsp;&nbsp;The Executive understands that the restrictions set forth in this Section 8(d) are intended to protect
the Employer&rsquo;s interest in its Confidential Information and established employee, customer and supplier relationships and
goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third-Party
Agreements and Rights</U>.&nbsp;&nbsp;The Executive hereby confirms that the Executive is not bound by the terms of any agreement
with any previous employer or other party which restricts in any way the Executive&rsquo;s use or disclosure of information or
the Executive&rsquo;s engagement in any business.&nbsp;&nbsp;The Executive represents to the Employer that the Executive&rsquo;s
execution of this Agreement, the Executive&rsquo;s employment with the Employer and the performance of the Executive&rsquo;s proposed
duties for the Employer will not violate any obligations the Executive may have to any such previous employer or other party.&nbsp;&nbsp;In
the Executive&rsquo;s work for the Employer, the Executive will not disclose or make use of any information in violation of any
agreements with or rights of any such previous employer or other party, and the Executive will not bring to the premises of the
Employer any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment
or other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;<U>Litigation and Regulatory Cooperation</U>.&nbsp;&nbsp;During and after the Executive&rsquo;s employment,
the Executive shall cooperate reasonably with requests from the Employer, or the Employer&rsquo;s legal counsel, in the defense
or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Employer
which relate to events or occurrences that transpired while the Executive was employed by the Employer.&nbsp;&nbsp;The Executive&rsquo;s
cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel
to prepare for discovery or trial and to act as a witness on behalf of the Employer at mutually convenient times.&nbsp;&nbsp;During
and after the Executive&rsquo;s employment, the Executive also shall cooperate fully with the Employer in connection with any investigation
or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences
that transpired while the Executive was employed by the Employer.&nbsp;&nbsp;The Employer shall reimburse the Executive for any
reasonable out-of-pocket expenses incurred in connection with the Executive&rsquo;s performance of obligations pursuant to this
Section 8(f), and if the Executive spends more than ten (10) hours in any calendar month in performance of these obligations, the
Employer shall pay the Executive $500 per hour for each part of an hour over ten (10) hours in such calendar month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunction</U>.&nbsp;&nbsp;The
Executive agrees that it would be difficult to measure any damages caused to the Employer which might result from any breach by
the Executive of the promises set forth in this Section 8, and that in any event money damages may be an inadequate remedy for
any such breach.&nbsp;&nbsp;Accordingly, subject to Section 9 of this Agreement, the Executive agrees that if the Executive breaches,
or proposes to breach, any portion of this Agreement, the Employer shall be entitled, in addition to all other remedies that it
may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual
damage to the Employer and without the need to post a bond or other security.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Arbitration
of Disputes</U>.&nbsp;&nbsp;In the event of any dispute or controversy arising out of, or relating to, this Agreement, the parties
hereto agree to submit such dispute or controversy to binding arbitration pursuant to either the JAMS Streamlined (for claims under
$250,000.00) or the JAMS Comprehensive (for claims over $250,000.00) Arbitration Rules and Procedures, except as modified herein,
including the Optional Appeal Procedure.&nbsp;&nbsp;A sole neutral arbitrator shall be selected from the list (the &ldquo;List&rdquo;)
of arbitrators supplied by J.A.M.S. (&ldquo;<U>JAMS</U>&rdquo;) Los Angeles County, California office, or any successor entity,
or if it no longer exists, from a List supplied by the ADR Services, Inc., in Los Angeles, California (&ldquo;ADR&rdquo;) following
written request by any party hereto.&nbsp;&nbsp;If the parties hereto after notification of the other party(-ies) to such dispute
cannot agree upon an arbitrator within thirty (30) days following receipt of the List by all parties to such arbitration, then
either party may request, in writing, that JAMS or ADR, as appropriate, appoint an arbitrator within ten (10) days following receipt
of such request (the &ldquo;Arbitrator&rdquo;).&nbsp;&nbsp;The arbitration shall take place in Los Angeles County, California,
at a place and time mutually agreeable to the parties or if no such agreement is reached within ten (10) days following notice
from the Arbitrator, at a place and time determined by the Arbitrator.&nbsp;&nbsp;Such arbitration shall be conducted in accordance
with the Streamlined Arbitration Rules and Procedures of JAMS then in effect, and Section 1280 et seq. of the California Code of
Civil Procedure, or if applicable, the Commercial Arbitration Rules of ADR then in effect.&nbsp;&nbsp;The preceding choice of venue
is intended by the parties to be mandatory and not permissive in nature, thereby precluding the possibility of litigation between
the parties with respect to or arising out of this Agreement in any jurisdiction other than that specified in this Section.&nbsp;&nbsp;Each
party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to venue
with respect to any proceeding brought in accordance with this Section, and stipulates that the Arbitrator shall have in personam
jurisdiction and venue over each of them for the purpose of litigating any dispute, controversy, or proceeding arising out of or
related to this Agreement.&nbsp;&nbsp;Each party hereby authorizes and accepts service of process sufficient for personal jurisdiction
in any action against it as contemplated by this Section by registered or certified mail, return receipt requested, postage prepaid,
to its address for the giving of notices as set forth in this Agreement.&nbsp;&nbsp;The decision of the Arbitrator shall be final
and binding on all the parties to the arbitration, shall be non-appealable and may be enforced by a court of competent jurisdiction.&nbsp;&nbsp;The
prevailing party shall be entitled to recover from the non-prevailing party reasonable attorney&rsquo;s fees, as well as its costs
and expenses.&nbsp;&nbsp;The Arbitrator may grant any remedy appropriate including, without limitation, injunctive relief or specific
performance.&nbsp;&nbsp;Notwithstanding any of the foregoing, the Employer may seek a temporary restraining order or a preliminary
injunction as contemplated in Section 8(g) herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Integration</U>.&nbsp;&nbsp;This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
agreements between the parties with respect to any related subject matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment;
Successors and Assigns, etc</U>.&nbsp;&nbsp;Neither the Employer nor the Executive may make any assignment of this Agreement or
any interest herein, by operation of law or otherwise, without the prior written consent of the other party; but the Employer may
assign its rights under this Agreement without the consent of the Executive, in the event that the Employer shall effect a reorganization,
consolidate with or merge into any other corporation, partnership, organization or other entity, or transfer all or substantially
all of its properties or assets to any other corporation, partnership, organization or other entity, in which event the Employer
will obtain a written confirmation of the assumption of the Employer&rsquo;s obligation hereunder for the benefit of the Executive.&nbsp;&nbsp;This
Agreement shall inure to the benefit of and be binding upon the Employer and the Executive, their respective successors, executors,
administrators, heirs and permitted assigns. It is anticipated that the Executive&rsquo;s employer of record and salary and bonus
payor may be the Employer, DT or another Subsidiary, as determined by the Employer and communicated to Executive from time to time,
but the Employer and DT will be jointly and severally liable for all amounts payable to Executive hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Enforceability</U>.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement)
shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement,
or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,
shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent
permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver</U>.&nbsp;&nbsp;No
waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party.&nbsp;&nbsp;The failure
of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of
this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent
breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.&nbsp;&nbsp;Any
notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to the Executive at the Executive&rsquo;s last residential address the Executive has filed in writing with the
Employer or, in the case of the Employer, at its main offices, attention of the Chairman of the Board, and shall be effective on
the date of delivery in person or by courier or three (3) days after the date mailed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third
Party Beneficiary; Amendment</U>.&nbsp;&nbsp;The Executive and the Employer acknowledge and agree that no third party shall have
any rights or benefits under this Agreement.&nbsp;&nbsp;This Agreement may be amended or modified only by a written instrument
signed by the Executive and the Employer.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>.&nbsp;&nbsp;This contract has been entered into in the State of California and shall be construed under and be governed
in all respects by the laws of the State of California, without giving effect to the conflict of laws principles of such state;
<U>provided</U> that Section 19 shall be governed by the laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.&nbsp;&nbsp;This
Agreement may be executed in any number of original, facsimile or other electronic counterparts, each of which when so executed
and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Prior Agreements</U>.&nbsp;&nbsp;The Executive hereby represents and warrants to the Employer and that the execution of this Agreement
by the Executive, the Executive&rsquo;s employment by the Employer, and the performance of the Executive&rsquo;s duties hereunder
will not violate or constitute a breach of any agreement, including any non-competition agreement, invention or confidentiality
agreement, with a former employer, client or any other person or entity.&nbsp;&nbsp;Further, the Executive agrees to indemnify
the Employer for any loss, including, but not limited to, reasonable attorneys&rsquo; fees and expenses, that the Employer may
incur based upon or arising out of the Executive&rsquo;s breach of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp; 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.&nbsp;&nbsp;The
Employer shall indemnify the Executive against and hold the Executive harmless from any costs, liabilities, losses and exposures
for the Executive&rsquo;s services as an employee, officer and director of the Employer (or any successor in interest thereof),
whether before or after the Effective Date, to the maximum extent permitted under the Delaware General Corporate Law.&nbsp;&nbsp;If
the Executive is made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by the Employer against the Executive), by reason of the fact that the Executive is or was
performing services to the Employer under this Agreement or while acting as an executive officer of the Employer, the Employer
shall indemnify the Executive against all expenses (including reasonable attorneys&rsquo; fees), judgments, fines and amounts paid
in settlement, as actually and reasonably incurred by the Executive in connection therewith, to the maximum extent permitted under
the Delaware General Corporation Law.&nbsp;&nbsp;If the Executive is made a party to any third-party action, complaint, suit or
proceeding, the Executive shall given prompt notice thereof to the Employer, and the Employer shall have the right to assume and
control the defense of such action, complaint, suit or proceeding; provided that if legal counsel selected by the Employer shall
have a conflict of interest that prevents such counsel from representing the Executive, the Executive may engage separate counsel
and the Employer shall reimburse all reasonable attorneys&rsquo; fees and reasonable expenses of such separate counsel.&nbsp;&nbsp;Notwithstanding
the foregoing, the Employer shall not have, and the Executive acknowledges and agrees that the Employer does not have, any obligation
to indemnify the Executive under this Section or under its certificate of incorporation or bylaws, with respect to (a) any breach
of representation, warranty or covenant committed by the Executive under this Agreement, or (b) any action or inaction by the Executive
where the Executive failed to act in good faith and in a manner the Executive reasonably believed to be in, or not opposed to,
the best interests of the Employer, or with respect to any criminal action or proceeding, the Executive had reasonable cause to
believe that his conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Directors&rsquo;
and Officers&rsquo; Insurance</U>. As soon as reasonably practicable following the Effective Date, the Employer shall use commercially
reasonable efforts to obtain directors&rsquo; and officers&rsquo; insurance from a reputable insurance company with such coverage
amounts and policy terms as is customary for public companies with market valuations similar to the Employer, as determined by
the Employer in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>
Section 954 of the Dodd Frank Act</U>. This Agreement and all other Compensation of Executive are intended to comply with the &ldquo;clawback
obligations&rdquo; of Section 954 of the Dodd Frank Act ((including the related regulations, &ldquo;<U>Section 954</U>&rdquo;).
If the Employer&rsquo;s financial statements must be restated, to the extent and only to the extent required by Section 954 (if
applicable), the Employer shall be entitled to recover from Executive, and Executive agrees to promptly repay, any incentive-based
compensation which would not have been earned under the restated financial statements.&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
409A Compliance</U>.&nbsp;&nbsp;Unless otherwise expressly provided, any payment of compensation by the Employer to the Executive,
whether pursuant to this Agreement or otherwise, shall be made no later than the fifteenth (15th) day of the third (3rd) month
(i.e., 2&frac12; months) after the later of the end of the calendar year or the Employer&rsquo;s fiscal year in which the Executive&rsquo;s
right to such payment vests (i.e., is not subject to a &ldquo;substantial risk of forfeiture&rdquo; for purposes of Section 409A).&nbsp;&nbsp;Each
payment and each installment of any bonus or severance payments provided for under this Agreement shall be treated as a separate
payment for purposes of application of Section 409A. To the extent any amounts payable by the Employer to the Executive constitute
&ldquo;nonqualified deferred compensation&rdquo; (within the meaning of Section 409A) such payments are intended to comply with
the requirements of Section 409A, and shall be interpreted in accordance therewith. Neither party individually or in combination
may accelerate, offset or assign any such deferred payment, except in compliance with Section 409A. No amount shall be paid prior
to the earliest date on which it is permitted to be paid under Section 409A and the Executive shall have no discretion with respect
to the timing of payments except as permitted under Section 409A. In the event that the Executive is determined to be a &ldquo;key
employee&rdquo; (as defined and determined under Section 409A) of the Employer at a time when its stock is deemed to be publicly
traded on an established securities market, payments determined to be &ldquo;nonqualified deferred compensation&rdquo; payable
upon separation from service shall be made no earlier than (a) the first (1st) day of the seventh (7th) complete calendar month
following such termination of employment, or (b) the Executive&rsquo;s death, consistent with the provisions of Section 409A.&nbsp;
Any payment delayed by reason of the prior sentence shall be paid out in a single lump sum at the end of such required delay period
in order to catch up to the original payment schedule.&nbsp;&nbsp;All expense reimbursement or in-kind benefits subject to Section
409A provided under this Agreement or, unless otherwise specified in writing, under any Employer program or policy, shall be subject
to the following rules: (i) the amount of expenses eligible for reimbursement or in-kind benefits provided during one calendar
year may not affect the benefits provided during any other year; (ii) reimbursements shall be paid no later than the end of the
calendar year following the year in which the Executive incurs such expenses, and the Executive shall take all actions necessary
to claim all such reimbursements on a timely basis to permit the Employer to make all such reimbursement payments prior to the
end of said period, and (iii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for
another benefit.&nbsp;&nbsp;The Executive shall be responsible for the payment of all taxes applicable to payments or benefits
received from the Employer.&nbsp;&nbsp;It is the intent of the Employer that the provisions of this Agreement and all other plans
and programs sponsored by the Employer be interpreted to comply in all respects with Section 409A; however, the Employer shall
have no liability to the Executive, or any successor or beneficiary thereof, in the event taxes, penalties or excise taxes may
ultimately be determined to be applicable to any payment or benefit received by the Executive or any successor or beneficiary thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Set Off</U>. The Employer's or
DT&rsquo;s obligation to pay Executive the amounts provided and to make the arrangements provided hereunder shall be subject to
set-off, counterclaim or recoupment of amounts owed by Executive to the Employer or its Subsidiaries to the extent permitted by
applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding Obligations</U>. The
Employer, or any other entity making a payment, may withhold and make such deductions from any amounts payable under this Agreement
such federal, state and local taxes as may be required to be withheld or deducted from time to time pursuant to any applicable
law, governmental regulation and/or order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Interpretation</U>. Executive
understands that this Agreement is deemed to have been drafted jointly by the parties and that the parties had a reasonable opportunity
to retain legal counsel for such purpose. Any uncertainty or ambiguity shall not be construed for or against any party based on
attribution of drafting to any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>. Titles or captions
of Sections contained in this Agreement are inserted only as a matter of convenience and for reference, and in no way define, limit,
extend or describe the scope of this Agreement or the intent of any provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival of Provisions</U>. All
other rights and obligations of the parties hereto, other than those applicable by their express terms only during the Term, shall
survive any termination or expiration of this Agreement or of Executive&rsquo;s employment with the Employer, and shall be fully
enforceable thereafter.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">IN WITNESS WHEREOF, this Agreement has been
executed by the Employer and by the Executive as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">EMPLOYER</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Mandalay Digital Group, Inc., </B>a Delaware corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: CEO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>Digital Turbine Group, LLC, </B>a Delaware limited liability company</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">EXECUTIVE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ William Stone&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>William Stone</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Exhibit A-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Benchmarks for Annual Incentive Bonus for Stub Year 2012
and full year 2013.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors of Employer (or any compensation committee
thereof) shall establish a revenue and an EBITDA target for DT for the remainder of 2012 (the &ldquo;<U>Stub Year</U>&rdquo;) within
thirty (30) days of the Effective Date, and for fiscal year 2013 by March 31, 2013, in each case its sole discretion after consultation
with the Executive. Revenue and EBITDA shall be as defined by the Board of Directors (or any compensation committee thereof) in
its reasonable discretion. The Board of Directors (or any compensation committee thereof) may, without limitation, use any reasonable
method to allocate overhead to DT for purposes of determining EBITDA and to allocate revenue that may relate to both DT and any
other entity that is not a Subsidiary of DT (such as to the Employer&rsquo;s other business units). The Board of Directors (or
any compensation committee thereof) shall communicate each applicable target to the Executive in writing promptly after it is determined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the revenue target for the applicable period is achieved,
as reasonably determined by the Employer, within 90 days of the end of such period, then Executive shall receive 50% of a 100%
of the Salary due for that applicable period. For example, if the revenue target is met for the Stub Year, then Executive shall
receive 50% of the Salary due to Executive with respect to the Stub Year. And if the revenue target is met for fiscal 2013, then
Executive shall receive 50% of the Salary due to Executive with respect to fiscal 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the EBITDA target for the applicable period is achieved,
as reasonably determined by the Employer, within 90 days of the end of such period, then Executive shall receive 50% of a 100%
of the Salary due for that applicable period. For example, if the EBITDA target is met for the Stub Year, then Executive shall
receive 50% of the Salary due to Executive with respect to the Stub Year. And if the EBITDA target is met for fiscal 2013, then
Executive shall receive 50% of the Salary due to Executive with respect to fiscal 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The total annual incentive bonus for the Stub Year of the Term
shall not exceed 100% of the Salary due to Executive for the Stub Year, and the total annual incentive bonus for 2013 shall not
exceed 100% of the Salary due to Executive for 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For all periods after 2013 during the Term, the Board of Directors
(or any compensation committee thereof) and the Executive shall establish the applicable performance targets and measurement periods,
and the Board of Directors (or any compensation committee thereof) shall reasonably determine whether such targets have been achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit A-2 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive shall receive an additional bonuses, if the following
events occur, as reasonable determined by the Board of Directors (or any compensation committee thereof), subject to the following
terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Carrier Contract Bonus</U>: For every definitive agreement
entered into between DT and a carrier during the Term having the criteria set forth under Column A, the corresponding amount set
forth under Column B:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Column A</TD>
    <TD STYLE="width: 50%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left-color: windowtext; border-left-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">Column B</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">Carrier has at least 5 million subscribers or more at time of contract and contract provides on its face for revenue to DT of at least $100,000 in the first contract year.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$10,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">Carrier has between 5 million and 25 million subscribers at time of contract and contract provides on its face for revenue to DT of at least $100,000 but less than $200,000 during the first full contract year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$25,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">Carrier has over 25 million subscribers at time of contract and contract provides on its face for revenue to DT of at least $200,000 during the first full contract year</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$50,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-top-color: windowtext; border-top-width: 1pt; padding-right: 5.4pt; padding-left: 5.4pt">Any contract that satisfies more than one of the above criteria-sets shall only receive one payment, determined by the highest payment for which it is eligible.</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt">Example: If DT signs one contract with a carrier that
has 6 million subscribers and that contract provides for revenue of $140,000 during the first contract year, and another contract
with a carrier that has 6 million subscribers and that contract provides for revenue of $160,000 in the first contract year and
a final contract with a carrier that has 26 million subscribers and that contract provides for revenue of $250,000 during the first
contract year, then Executive would be due a bonus of $85,000 ($10,000 for first contract, $25,000 for second contract and $50,000
for third contract). The fact that the second and third contract include the criteria set for lower tier contracts does not result
in double payment for the same contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>OEM Contract Bonus</U>: For every definitive agreement entered
into between DT and an Original Equipment Manufacturer or other alternative distribution partner agreed upon between Executive
and Employer (e.g,. Operating System Provider, Retailer, Other Distributors, etc.) during the Term, which contract provides for
an express commitment by the OEM to put Digital Turbine on that OEM&rsquo;s devices, 5% of the revenue DT actually receives from
such OEM during the first year of the contract generated from the device commitment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">EXHIBIT B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>MANDALAY DIGITAL GROUP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AMENDED AND RESTATED 2011 EQUITY INCENTIVE
PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>NOTICE OF GRANT</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>AND</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">RESTRICTED
STOCK </FONT>AGREEMENT</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You have been granted the number of shares
of Restricted Common Stock of Mandalay Digital Group, Inc. (the &ldquo;Company&rdquo;), as set forth below (&ldquo;<U>Common Shares</U>&rdquo;),
subject to the terms and conditions of the Mandalay Digital Group, Inc. Amended and Restated 2011 Equity Incentive Plan (&ldquo;<U>Plan</U>&rdquo;),
and this Notice of Grant and Restricted Stock Agreement including the attachments hereto (collectively, &ldquo;<U>Notice and Agreement</U>&rdquo;).
Unless otherwise defined in the Notice and Agreement, terms with initial capital letters shall have the meanings set forth in the
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-top: #00CCFF 1pt solid; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Participant:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="width: 66%; border-top: #00CCFF 1pt solid; border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">William Stone</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Home Address:</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Soc. Sec. No:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Number of shares of Restricted Common Stock Granted:</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1,500,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Grant Date:</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">[Date of Signing
    of this Agreement], 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #00CCFF 1pt solid; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Period of Restriction and Release of Common Shares from Company&rsquo;s Return Right (see Sections 2 and 3 of attached Agreement)</TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; border-bottom: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Period of Restriction and Release Date to be conformed to Section 4(e) of the Employment Agreement between the parties of even date herewith</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By signing below, you accept this grant
of Common Shares and you hereby represent that you: (i) agree to the terms and conditions of this Notice and Agreement and the
Plan; (ii) have reviewed the Plan and the Notice and Agreement in their entirety, and have had an opportunity to obtain the advice
of legal counsel and/or your tax advisor with respect thereto; (iii) fully understand and accept all provisions hereof; (iv) agree
to accept as binding, conclusive, and final all of the Administrator&rsquo;s decisions regarding, and all interpretations of, the
Plan and the Notice and Agreement; and (v) agree to notify the Company upon any change in your home address indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AGREED AND ACCEPTED:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 30%; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Signature:</P></TD>
    <TD STYLE="width: 20%; border-right: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #00CCFF 1pt solid; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: #00CCFF 1pt solid; border-left: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Print<BR>Name:</P></TD>
    <TD STYLE="border-right: #00CCFF 1pt solid; border-bottom: #00CCFF 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">William Stone</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MANDALAY DIGITAL GROUP, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AMENDED AND RESTATED 2011 EQUITY INCENTIVE
PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RESTRICTED STOCK AGREEMENT</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant of Restricted Stock</U>.
The Company has granted to you the number of shares of Restricted Common Stock specified in the Notice of Grant on the preceding
page (&ldquo;<U>Notice of Grant</U>&rdquo;), subject to the following terms and conditions. In consideration of such grant, you
agree to be bound by the terms and conditions hereof, and by the terms and conditions of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Period of Restriction</U>. During
the Period of Restriction specified in the Notice of Grant, the Common Shares shall remain subject to the Company&rsquo;s Return
Right (defined in Section 3). The Period of Restriction shall expire and the Company&rsquo;s Return Right shall lapse as to the
Common Shares granted in the amount(s) and on the date(s) specified in the Notice of Grant (each, a &ldquo;<U>Release Date</U>&rdquo;);
provided, however, that no Common Shares shall be released on any Release Date if the Participant has ceased Continuous Status
as an Employee, Consultant or Director on or prior to such date. Any and all Common Shares subject to the Company&rsquo;s Return
Right at any time shall be defined in this Notice and Agreement as &ldquo;<U>Unreleased Common Shares</U>.&rdquo;<B> [Acceleration
upon a Change of Control, and vesting to continue during any Termination Benefits Period, as set forth in the Employment Agreement
between the parties of even date herewith]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Return of Restricted Stock to Company</U>. If Participant
ceases Continuous Status as an Employee, Consultant or Director for any reason (a &ldquo;<U>Return Event</U>&rdquo;), the Company
shall become the legal and beneficial owner of the Unreleased Common Shares and all rights and interests therein or relating thereto,
and the Company shall have the right to retain and transfer such Unreleased Common Shares to its own name. The Participant shall
continue to own any Common Shares subject to the terms of the Plan and this Notice and Agreement with respect to which the Participant
has Continuous Status as an Employee, Consultant or Director through the Release Date(s) specified in the Notice of Grant for such
Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restriction on Transfer</U>. Except
for the transfer of the Common Shares to the Company or its assignees contemplated by this Notice and Agreement, none of the Common
Shares or any beneficial interest therein shall be transferred, encumbered or otherwise disposed of in any way until the date that
is two years after the Release Date for such Common Shares set forth in this Notice and Agreement.<FONT STYLE="color: black"> In
addition, as a condition to any transfer of the Common Shares after such Release Date, the Company may, in its discretion, require:
(i) that the Common Shares shall have been duly listed upon any national securities exchange or automated quotation system on which
the Company's Common Stock may then be listed or quoted; (ii) that either (a) a registration statement under the Securities Act
of 1933, as amended (&ldquo;<U>Securities Act</U>&rdquo;) with respect to the Common Shares shall be effective, or (b) in the opinion
of counsel for the Company, the proposed purchase shall be exempt from registration under the Securities Act and the Participant
shall have entered into agreements with the Company as reasonably required; and (iii) fulfillment of any other requirements deemed
necessary by counsel for the Company to comply with Applicable Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention of Common Shares</U>.
To ensure the availability for delivery of the Participant's Unreleased Common Shares upon their return to the Company pursuant
to this Notice and Agreement, the Company shall retain possession of the share certificates representing the Unreleased Common
Shares, together with a stock assignment duly endorsed in blank, attached hereto as <U>Exhibit A.</U> The Company shall hold the
Unreleased Common Shares and related stock assignment until the Release Date for such Common Shares. In addition, the Company may
require the spouse of Participant, if any, to execute and deliver to the Company the Consent of Spouse in the form attached hereto
as <U>Exhibit B</U>. When a Return Event or Release Date occurs, the Company shall promptly deliver the certificate for the applicable
Common Shares to the Company or to the Participant, as the case may be.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<U>Stockholder Rights</U>. Subject
to the terms hereof, the Participant shall have all the rights of a stockholder with respect to the Common Shares while they are
retained by the Company pursuant to Section 5, including without limitation, the right to vote the Common Shares and to receive
any cash dividends declared thereon. If, from time to time prior to the Release Date, there is (i) any stock dividend, stock split
or other change in the Common Shares, or (ii) any merger or sale of all or substantially all of the assets or other acquisition
of the Company, any and all new, substituted or additional securities to which the Participant shall be entitled by reason of the
Participant's ownership of the Common Shares shall be immediately subject to the terms of this Notice and Agreement and included
thereafter as &ldquo;Common Shares&rdquo; for purposes of this Notice and Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legends</U>. The share certificate
evidencing the Common Shares, if any, issued hereunder shall be endorsed with the following legend (in addition to any legend required
under applicable state securities laws):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THE COMMON SHARES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO CERTAIN RESTRICTIONS UPON TRANSFER AND OBLIGATIONS TO RETURN TO THE COMPANY, AS SET FORTH IN AN AGREEMENT BETWEEN
THE COMPANY AND THE HOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>U.S. Tax Consequences</U>. The
Participant has reviewed with the Participant's own tax advisors the federal, state, local and foreign tax consequences of this
investment and the transactions contemplated by this Notice and Agreement. The Participant is relying solely on such advisors and
not on any statements or representations of the Company or any of its employees or agents. The Participant understands that the
Participant (and not the Company) shall be responsible for the Participant's own tax liability that may arise as a result of the
transactions contemplated by this Notice and Agreement. The Participant understands that for U.S. taxpayers, Section 83 of the
Internal Revenue Code of 1986, as amended (the &quot;<U>Code</U>&quot;), taxes as ordinary income the difference between the purchase
price for the Common Shares, if any, and the fair market value of the Common Shares as of the date any restrictions on the Common
Shares lapse. In this context, &ldquo;restriction&rdquo; includes the right of the Company to the return of the Common Shares upon
a Return Event. The Participant understands that if he/she is a U.S. taxpayer, the Participant may elect to be taxed at the time
the Common Shares are awarded as Restricted Stock rather than when and as the Return Right expires by filing an election under
Section 83(b) of the Code with the IRS within 30 days from the date of acquisition. The form for making this election is attached
as <U>Exhibit C</U> hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE PARTICIPANT ACKNOWLEDGES THAT IT IS
THE PARTICIPANT'S SOLE RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), IF APPLICABLE, EVEN
IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT'S BEHALF.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Notice and Agreement shall be
governed by and construed under the laws of the State of Delaware. The Notice and Agreement and the Plan, which is incorporated
herein by reference, represents the entire agreement between the parties with respect to the shares of Restricted Common Stock
granted to the Participant. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions
of this Notice and Agreement, the terms and conditions of the Plan shall prevail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any notice, demand or request required
or permitted to be delivered by either the Company or the Participant pursuant to the terms of this Notice and Agreement shall
be in writing and shall be deemed given when delivered personally, deposited with a reputable courier service, or deposited in
the U.S. Mail, First Class with postage prepaid, and addressed to the parties at the addresses set forth in the Notice of Grant,
or such other address as a party may request by notifying the other in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The rights of the Company under
this Notice and Agreement and the Plan shall be transferable to any one or more persons or entities, and all covenants and agreements
hereunder shall inure to the benefit of, and be enforceable by the Company's successors and assigns. The rights and obligations
of the Participant under this Notice and Agreement may only be assigned with the prior written consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Participant agrees upon request
to execute any further documents or instruments necessary or desirable to carry out the purposes or intent of this Notice and Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PARTICIPANT ACKNOWLEDGES AND AGREES
THAT THE RELEASE OF COMMON SHARES PURSUANT TO THIS AGREEMENT SHALL BE EARNED ONLY BY CONTINUING SERVICE AS AN EMPLOYEE, CONSULTANT
OR DIRECTOR, AND NOT THROUGH THE ACT OF BEING HIRED, APPOINTED OR OBTAINING COMMON SHARES HEREUNDER.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">#####</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">
<B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>ASSIGNMENT SEPARATE FROM CERTIFICATE</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOR VALUE RECEIVED I, __________________________,
hereby sell, assign and transfer unto _______________________________________(__________) Common Shares of Mandalay Digital Group,
Inc. standing in my name of the books of said corporation represented by Certificate No. ________ herewith and do hereby irrevocably
constitute and appoint _____________________________ to transfer the said stock on the books of the within named corporation with
full power of substitution in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Stock Assignment may be used only
in accordance with the Notice of Grant and the Restricted Stock Agreement between Mandalay Digital Group, Inc. and the undersigned
dated_____________, 20__.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: _______________, 20___</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: justify">Signature:</TD>
    <TD STYLE="width: 35%; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Print Name:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>INSTRUCTIONS:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I><U>Please DO NOT fill in any blanks
other than the signature lines</U>.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The purpose of this assignment is to
enable the Company to receive the return of the Common Shares as set forth in the Notice and Agreement, without requiring additional
signatures on the part of the Participant.</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>CONSENT OF SPOUSE</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">I, ____________________, spouse of ___________________,
have read and approve the foregoing Notice of Grant and Restricted Stock Agreement (the &ldquo;Notice and Agreement&rdquo;). In
consideration of the Company's grant to my spouse of the Common Shares of Mandalay Digital Group, Inc. as set forth in the Notice
and Agreement, I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any rights under the Notice and
Agreement and agree to be bound by the provisions of the Notice and Agreement insofar as I may have any rights in said Notice and
Agreement or any Common Shares issued pursuant thereto under the community property laws or similar laws relating to marital property
in effect in the state or country of our residence as of the date of the signing of the foregoing Notice and Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; text-align: justify">Dated: _______________, 20__</TD>
    <TD STYLE="width: 20%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Signature of Spouse</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%">Print Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>E</B></FONT><B>XHIBIT
C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>ELECTION UNDER SECTION 83(b)</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>OF THE U.S. INTERNAL REVENUE CODE OF
1986</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned taxpayer hereby elects,
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer's gross income for the current
taxable year the amount of any compensation taxable to taxpayer in connection with his or her receipt of the property described
below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The name, address, taxpayer identification number and taxable year of the undersigned are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: justify">Name:</TD>
    <TD STYLE="width: 67%; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Spouse:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: -5.4pt">Taxpayer I.D.<BR>No.:</TD>
    <TD STYLE="padding-right: -5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Address:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Tax Year:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&#9;The property with respect to which
the election is made is described as follows: __________________(________) shares of the common stock (&ldquo;Common Shares&rdquo;)
of Mandalay Digital Group, Inc. (the &quot;Company&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3. &#9;The date on which the property was transferred is ______________,
20__.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4. &#9;The property is subject to the following
restrictions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Common Shares are required to be returned
to the Company in the event that the undersigned ceases to perform services for the Company through certain dates specified in
the Notice of Grant and Restricted Stock Agreement between me and the Company dated as of ___________, 20__. This right lapses
with regard to a portion of the Common Shares based on my Continued Status as an Employee, Consultant or Director over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5. &#9;The fair market value at the time
of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such
property is: $______________________.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">6. &#9;The amount (if any) paid for such
property is: none.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 9pt">The undersigned
has submitted a copy of this statement to the person for whom the services were performed in connection with the undersigned's
receipt of the above-described property. The transferee of such property is the person performing the services in connection with
the transfer of said property. The undersigned understands that the foregoing election may not be revoked except with the consent
of the Commissioner.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">Dated:&nbsp;&nbsp; ___________________, 20__</TD>
    <TD STYLE="width: 50%; text-align: justify; border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Signature of Taxpayer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">The undersigned spouse of taxpayer joins in this election.</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Dated:&nbsp;&nbsp; ___________________, 20__</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Spouse of Taxpayer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>



<P STYLE="margin: 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>v324135_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Mandalay Digital Expands Senior
Management with Seasoned CFO</B></P>

<P STYLE="color: #978E84; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">- September 17, 2012</P>

<P STYLE="color: #978E84; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">LOS ANGELES, Sept.
17, 2012 /PRNewswire/&mdash;Mandalay Digital Group, Inc. (OTC Markets: MNDL), a leading global mobile data services provider,
today announced that it has hired senior finance veteran Dan Halvorson as Executive Vice President and Chief Financial Officer.
Halvorson will be responsible for financial and accounting operations as well as investor relations at the Mandalay Digital parent
company, and he will provide oversight to financial operations at all company subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #60584F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Dan Halvorson has
more than 20 years of senior corporate and financial leadership experience in a variety of high-technology and pharmaceutical
companies. Most recently, Halvorson served as Chief Financial Officer and Executive Vice President, Operations for digital media
company DivX, Inc. until its acquisition by Sonic Solutions, where he was responsible for over 150 employees in finance, administration
and operational roles, including an acquired international operating entity. Prior to joining DivX, Halvorson held various senior
finance positions with Novatel Wireless, Inc., including Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #60584F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Mr. Halvorson spent
eight years at &ldquo;Big 4&rdquo; public accounting firms Deloitte &amp; Touche and PriceWaterhouseCoopers. Halvorson is a member
of the American Institute of Certified Public Accountants, California Society of Certified Public Accountants, and serves on the
Membership Committee of the Corporate Directors Forum in San Diego. He is a certified public accountant (inactive), and he holds
a Bachelor of Science in Business Administration and Accounting from San Diego State University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;<BR>
&ldquo;I am very excited to join the Mandalay Digital executive management team,&rdquo; commented Mr. Halvorson. &ldquo;With a
portfolio of attractive media and technology assets, a strong complementary senior management and advisory team, an outstanding
Board, and several evolving carrier partnerships well underway, I look forward to helping the Company proceed through its next
phase of accelerating growth and expansion. I expect to fully leverage my experience and previous interaction in the telecom sector
with the buy-side, sell-side, and investment banking community.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #60584F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;I am thrilled
to have someone with Dan&rsquo;s experience and expertise join the Mandalay Digital senior management team to help guide the Company
in our next phase of rapid growth,&rdquo; commented Peter Adderton, Chief Executive Officer of Mandalay Digital Group. &ldquo;Dan&rsquo;s
significant experience in refining corporate accountability and improving internal systems and processes will prove invaluable
to Mandalay Digital. We will look to Dan&rsquo;s public company experience and financial markets acumen in the coming months as
we pursue our listing on NASDAQ and continue our long-term strategy to build out a leading mobile and media technology company
through continued organic growth and additional acquisitions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #60584F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>About Mandalay Digital Group<BR>
</B>Mandalay Digital Group is at the convergence of internet media content and mobile communications. It delivers a mobile services
platform that works with mobile operators and third-party publishers to provide portal management, user interface, content development
and billing technology that enables the responsible distribution of mobile entertainment. Mandalay Digital is headquartered in
Los Angeles and has offices in Europe and Latin America to support global sales and marketing. For additional information, visit
<FONT STYLE="text-underline-style: none">www.mandalaydigital.com</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Contacts<BR>
</B>Hayden IR<BR>
Brett Maas, Managing Partner<BR>
(646) 536-7331<BR>
Email: brett@haydenir.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #60584F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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