VOTING
AGREEMENT
This VOTING AGREEMENT, dated as of this 12th day
of February, 2007 (“Agreement”), is by and among Trinad
Capital Master Fund, Ltd. (“Trinad”) and each of the
other persons whose signature appears under the caption
“Stockholders” on the signature page hereof. For
purposes of this Agreement, Trinad, and each person whose signature
appears on the signature page hereof shall be referred to herein
individually as “Stockholder” and collectively as the
“Stockholders”.
WHEREAS, immediately following the Exchange (as
defined below), each Stockholder will own beneficially of record or
have the power to vote, or direct the vote of, either shares of
common stock, par value $0.001 per share (“Common
Stock”),shares of Series A Convertible Preferred Stock, par
value $0.10 per share (“Series A Preferred Stock”), or
shares of Series C Convertible Preferred Stock, par value $0.10 per
share (“Series C Preferred Stock”, and together with
the Series A Preferred Stock, the “Preferred Stock”) of
MPLC, Inc., a Delaware corporation (“MPLC”), as set
forth opposite such Stockholder’s name on
Exhibit A hereto (all such shares of Common Stock and
Preferred Stock and any shares of which ownership of record or the
power to vote is hereafter acquired by the Stockholders, whether by
purchase, conversion or exercise, prior to the termination of this
Agreement being referred to herein as the
“Stock”);
WHEREAS, MPLC, New Motion, Inc., a Delaware
corporation (“New Motion”), the Stockholders and
certain other equity owners of New Motion have entered into an
Exchange Agreement, dated January 31, 2007 (as the same may be
amended from time to time) (the “Exchange Agreement”)
which provides, upon the terms and subject to the conditions
thereof, for the exchange of all of the shares of New Motion for
shares of MPLC’s equity securities (the
“Exchange”);
WHEREAS, MPLC’s Preferred Stock is
convertible into Common Stock pursuant to a Certificate of
Designation, Preferences and Rights of Series A Convertible
Preferred Stock and a Certificate of Designation, Preferences and
Rights of Series C Convertible Preferred Stock, as
applicable;
WHEREAS, as a condition to the consummation of
the Exchange Agreement, the Stockholders have agreed to enter into
this Agreement; and
WHEREAS, the capitalized terms used but not
defined in this Agreement shall have the meanings ascribed to them
in the Exchange Agreement.
NOW, THEREFORE, in consideration of the premises
and of the mutual agreements and covenants set forth herein and in
the Exchange Agreement, and intending to be legally bound hereby,
the parties hereto hereby agree as follows:
ARTICLE I
VOTING OF STOCK FOR
DIRECTORS
SECTION 1.01
Vote in Favor of the
Directors . During the
period commencing on the date hereof and terminating one year
thereafter, each Stockholder, in its capacity as a Stockholder of
MPLC (or successor), agrees to vote (or cause to be voted) all
Stock directly or indirectly owned by the Stockholder or over which
the Stockholder has the beneficial ownership or the right to vote
and all Stock which such Stockholder acquires directly or
indirectly or has the beneficial ownership or right to vote in the
future, at any meeting of the Stockholders of MPLC, and in any
action by written consent of the Stockholders of MPLC, in favor of
the election of one person designated by Trinad (the “Trinad
Designee”) to the Board of Directors of MPLC and will not
vote (or cause to be voted) for the removal of the Trinad Designee
from the Board of Directors. Notwithstanding the foregoing, the
Trinad Designee may be removed from the Board of Directors in the
manner allowed by law and MPLC’s governing documents, but in
the event such Trinad Designee is removed as a director of the
Company, Trinad shall have the right to designate and nominate such
removed director's replacement.
SECTION 1.02
Size of Board of
Directors . The
Stockholders agree that the Board of Directors of MPLC shall
consist of three to seven persons during the term hereof, with the
actual number to be determined by resolution of the Board of
Directors and to initially equal six (6) members effective as of
the Closing, and the Stockholders will take all such action to set
the number of directors consistent with this Section
1.02.
SECTION 1.03
Trinad Designee
.
Neither the
Stockholders, nor any of the officers, directors, stockholders,
members, managers, partners, employees or agents of any
Stockholder, makes any representation or warranty as to the fitness
or competence of the Trinad Designee to serve on the Board of
Directors by virtue of such party’s execution of this
Agreement or by the act of such party in designating or voting for
such Trinad Designee pursuant to this Agreement.
SECTION 1.04
Term of Agreement
. The obligations of the
Stockholders pursuant to this Article I shall terminate on the
first anniversary of the date of this Agreement.
ARTICLE II
VOTING FOR CORPORATE
ACTIONS
SECTION 2.01
Vote in Favor of Corporate
Matters . During the term
of this Agreement, each Stockholder hereby agrees and covenants to
vote or cause to be voted all of his Stock then owned by him, or
over which he has voting power, and all Stock which such
Stockholder acquires directly or indirectly or has the beneficial
ownership or right to vote in the future, at any regular or special
meeting of stockholders, or, in lieu of any such meeting promptly
following the written request of any Stockholder, to give his
written consent in any action by written consent of the
stockholders, in favor of each of the following items
(“Actions”):
(a) To approve an increase in the authorized number
of shares of Common Stock from 75,000,000 to
100,000,000;
(b) To approve a 1 for 300 reverse stock split with
special treatment for certain of MPLC’s stockholders to
preserve round lot stockholders (“Reverse
Split”);
(c) To approve the change of the name of MPLC to a
name selected by the Stockholders other than Trinad;
(d) To approve the adoption of a stock incentive
plan (“Stock Plan”); and
(e)
All such other actions as shall be
reasonably necessary or desirable in connection with or related to
the foregoing actions in (a) through (d) above including, without
limitation, any amendment to the certificate of incorporation of
MPLC to effect the foregoing.
SECTION 2.02
Grant of Proxy; Further
Assurance . In the event
that, in connection with any regular or special meeting of
stockholders, or, in lieu of any such meeting, with a written
consent in any action by written consent of the stockholders,
within five (5) days following a written request thereof by an
executive officer of MPLC (or a representative thereof), a
Stockholder fails to vote or cause to be voted all of his Stock in
favor of the Actions in accordance with the instructions set forth
in such written request, or to execute a written consent in
connection therewith, each Stockholder, by this Agreement, with
respect to all Stock over which it has voting authority and any
Stock hereinafter acquired by such Stockholder over which it may
have voting authority, does hereby irrevocably constitute and
appoint such executive officer, or any nominee, with full power of
substitution, as his or its true and lawful attorney and proxy, for
and in his or its name, place and stead, to vote each of such Stock
as such S
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