FBC Holding Inc (FBCD)

[ballantyne]

Ok, hopefully everybody here can read:

Under the Second Addendum to Stock Transfer Agreement we agreed to pay the remaining One Hundred Forty Five Thousand Dollars ($145,000) to Super Rad (the “Total Payment Obligation”) along the following schedule: Sixty Thousand Dollars ($60,000), as well as agreed-upon payments for expenses associated with Super Rad’s website development, product production and freight delivery, legal fees, third-party licenses, storefront lease obligations, and consulting agreements (“Operational Expenses”), by no later than July 13, 2011; and the remaining Eighty-Five Thousand Dollars ($85,000), by delivering Ten Thousand Dollars ($10,000) per month to Super Rad not later than the first (1st) day of each month, beginning on August 1, 2011, until the remaining Eighty-Five Thousand Dollars ($85,000) is paid in full. (These monthly payments shall be referred to herein as the “Monthly Payments”). Additionally, we agreed with Super Rad to conduct a detailed accounting of all funds paid or loaned to Super Rad in connection with the asset purchase and we agreed to pay the difference between that determined amount and the full working capital amount of One Million Five Hundred Thousand Dollars ($1,500,000) we agreed to pay pursuant the transaction documents, by December 31, 2011.