KIT Digital, Inc fka KITDQ

[Old Hillbilly]

Section 5.06
Cancellation of Interests On the Effective Date, all Interests
in the Debtor (i.e., KDI Common Stock), including,
without limitation, any and all options or rights to exercise
warrants or options or to otherwise acquire
any KDI Common Stock or any other Interest in the Debtor shall
be canceled and be deemed terminated and of no force and effect
and the certificates that previously evidenced ownership of
those Interests shall be deemed canceled (all without
further action by any person or the Bankruptcy
Court) and shall be null and void and such certificates shall
evidence no rights or interests in the Debtor or Reorganized KDI.

GL