ContractSubordination Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
The obligations evidenced hereby are subordinated in the priority order listed below, and more particularly in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated March 30, 2011 by and among Sovereign - Emerald Crest Capital Partners II, LP, Pacific Specialty Insurance Company (collectively the “Senior Lenders”) and Emerald Crest Management Company, LLC, as agent for the Senior Lenders (“Agent”), IU HOLDINGS, LP (“Tier 2 Junior Lender”), IU INVESTMENTS, LLC (“Tier 3 Junior Lender”), INTERNET UNIVERSITY, INC. (“Internet University”), MARC BLUMBERG (“Blumberg”, and the person identified as “Lender” below), and MARC A. PICKREN (“Pickren”, and collectively with Internet University and Blumberg, the “Tier 4 Junior Lenders”), and INTERNET UNIVERSITY, INC. (a second time, “Tier 5 Junior Lender”), as defined as to all in the Subordination Agreement. Lender, together with the other Tier 4 Junior Lenders, is senior to the loan and
ContractSubordination Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
The obligations evidenced hereby are subordinated in the priority order listed below, and more particularly in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated March 30, 2011 by and among Sovereign – Emerald Crest Capital Partners II, LP, Pacific Specialty Insurance Company (collectively the “Senior Lenders”) and Emerald Crest Management Company, LLC, as agent for the Senior Lenders (“Agent”), IU HOLDINGS, LP (“Tier 2 Junior Lender”), IU INVESTMENTS, LLC (“Tier 3 Junior Lender”), INTERNET UNIVERSITY, INC. (“Internet University”), MARC BLUMBERG (“Blumberg”), and MARC A. PICKREN (“Pickren”, and collectively with Internet University and Blumberg, the “Tier 4 Junior Lenders“), INTERNET UNIVERSITY, INC. (a second time, “Tier 5 Junior Lender”), and the party identified as “Lender” below, as defined as to all in the Subordination Agreement. Lender is senior to each loan and security interest of the Tier 4 Junior Lenders, the
AMENDMENT NUMBER 2 TO EMPLOYMENT AGREEMENT DATED JULY 28, 2011 BETWEEN CORNERWORLD CORPORATION AND SCOTT N. BECKEmployment Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
WHEREAS, on July 28, 2011, CornerWorld Corporation and its Chief Executive Officer, Scott N. Beck (collectively the “Parties”) entered into an employment agreement (the “Agreement”) and, unless otherwise noted, all capitalized terms have the identical meaning as defined in the Agreement.
AMENDMENT NO. 3 TO PROMISSORY NOTEPromissory Note • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
AMENDMENT NO. 3 TO PROMISSORY NOTE, dated as of July 27, 2012 (this “Amendment”), between (a) CornerWorld Corporation, a Nevada corporation (the “Borrower”), and (b) Kelly Larabee Morlan (the “Lender”).
ContractSubordination Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
The obligations evidenced hereby are subordinated in the priority order listed below, and more particularly in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated March 30, 2011 by and among Sovereign – Emerald Crest Capital Partners II, LP, Pacific Specialty Insurance Company (collectively the “Senior Lenders”) and Emerald Crest Management Company, LLC, as agent for the Senior Lenders (“Agent”), IU HOLDINGS, LP (“Tier 2 Junior Lender”), IU INVESTMENTS, LLC (“Tier 3 Junior Lender”), INTERNET UNIVERSITY, INC. (“Internet University”), MARC BLUMBERG (“Blumberg”, and the person identified as “Lender” below), and MARC A. PICKREN (“Pickren”, and collectively with Internet University and Blumberg, the “Tier 4 Junior Lenders”), and INTERNET UNIVERSITY, INC. (a second time, “Tier 5 Junior Lender”), as defined as to all in the Subordination Agreement. Lender, together with the other Tier 4 Junior Lenders, is senior to the loan and
AMENDMENT NUMBER 1 TO EMPLOYMENT AGREEMENT DATED OCTOBER 12, 2010 BETWEEN CORNERWORLD CORPORATION AND SCOTT N. BECKEmployment Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
WHEREAS, on October 12, 2010, CornerWorld Corporation and its Chief Financial Officer, V. Chase McCrea III (collectively the “Parties”) entered into an employment agreement retroactively effective to August 1, 2010 (the “Agreement”);
ContractSubordination Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
The obligations evidenced hereby are subordinated in the priority order listed below, and more particularly in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated March 30, 2011 by and among Sovereign - Emerald Crest Capital Partners II, LP, Pacific Specialty Insurance Company (collectively the “Senior Lenders”) and Emerald Crest Management Company, LLC, as agent for the Senior Lenders (“Agent”), IU HOLDINGS, LP (“Tier 2 Junior Lender”), IU INVESTMENTS, LLC (“Tier 3 Junior Lender”), INTERNET UNIVERSITY, INC. (“Internet University”), MARC BLUMBERG (“Blumberg”), and MARC A. PICKREN (“Pickren”, and collectively with Internet University and Blumberg, the “Tier 4 Junior Lenders”), INTERNET UNIVERSITY, INC. (a second time, “Tier 5 Junior Lender”), NED B. TIMMER (“Tier 6 Junior Lender” or “Timmer”), and the party identified as “Lender” below (“Tier 7 Junior Lender”), as defined as to all in the Subordination Agreement. Lender’s
ContractSubordination Agreement • July 30th, 2012 • Cornerworld Corp • Services-telephone interconnect systems
The obligations evidenced hereby are subordinated in the priority order listed below, and more particularly in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated March 30, 2011 by and among Sovereign – Emerald Crest Capital Partners II, LP, Pacific Specialty Insurance Company (collectively the “Senior Lenders”) and Emerald Crest Management Company, LLC, as agent for the Senior Lenders (“Agent”), IU HOLDINGS, LP (“Tier 2 Junior Lender”), IU INVESTMENTS, LLC (“Tier 3 Junior Lender”), INTERNET UNIVERSITY, INC. (“Internet University”, and the party identified as “Lender” below), MARC BLUMBERG (“Blumberg”), and MARC A. PICKREN (“Pickren”, and collectively with Internet University and Blumberg, the “Tier 4 Junior Lenders”), and INTERNET UNIVERSITY, INC. (a second time, “Tier 5 Junior Lender”), as defined as to all in the Subordination Agreement. Lender, together with the other Tier 4 Junior Lenders, is senior to the loan and s
