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Re: sillywog post# 54893

Friday, 01/13/2012 1:21:46 PM

Friday, January 13, 2012 1:21:46 PM

Post# of 94541

Three year terms with Justin Bieber having the right to terminate after one year in which case the other two agreements terminate;
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Covers North America, Central America and South America;
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Warrants to purchase 121,160,749 shares of common stock at $0.01 per share or a total of 16.4% of the Company on a fully diluted basis, exercisable over three years with full anti-dilution protection for sales below the exercise price;
·
Pre-emptive rights for sales of equity and common stock equivalents above $0.01 per share so the Bieber Group may maintain their 16.4% ownership right; and
·
Sales royalties based on all sales of DriveSafe during the term.