MaryJane (PLAD) 8-K Entry into a Material Definitive Agreement

Pladeo Corp. 8-K

Exhibit 10.6

NEITHERTHEISSUANCE ANDSALEOFTHESECURITIESREPRESENTEDBYTHISCERTIFICATENORTHESECURITIESINTOWHICHTHESE SECURITIESARECONVERTIBLEHAVEBEENREGISTERED UNDERTHESECURITIES ACTOF1933,ASAMENDED,ORAPPLICABLESTATESECURITIESLAWS.THESECURITIES MAY NOT BE OFFERED FOR SALE, SOLD,TRANSFERRED OR ASSIGNED (I) IN THEABSENCEOF(A) ANEFFECTIVEREGISTRATION STATEMENT FORTHESECURITIESUNDER THESECURITIESACTOF 1933,ASAMENDED, OR (B) AN OPINION OF COUNSEL (WHICHCOUNSEL SHALLBE SELECTEDBYTHEHOLDER),INAGENERALLYACCEPTABLE FORM,THATREGISTRATIONIS NOTREQUIREDUNDER SAIDACTOR (II)UNLESS SOLDPURSUANTTORULE144ORRULE144AUNDERSAIDACT.NOTWITHSTANDINGTHE FOREGOING, THESECURITIES MAY BE PLEDGED INCONNECTIONWITHABONAFIDEMARGINACCOUNTOROTHERLOANORFINANCING ARRANGEMENTSECURED BY THESECURITIES.

Principal Amount: $45,000.00	Issue Date: March , 2014
Purchase Price: $45,000.00

5%CONVERTIBLEDEBENTURE

FORVALUERECEIVED,PladeoCorp.,aNevadacorporation(hereinafter calledthe“Borrower”),herebypromisestopaytotheorderof______________,orregisteredassigns(the“Holder”)thesumof$45,000.00togetherwithinterest assetforthherein,onMarch , 2017 (the “MaturityDate”),and to payinterestontheinitialprincipalbalance hereofattherate of five percent(5%) (the“Interest Rate”) perannum, whichinterest willbeginto accrue ontheIssueDateandshallbecomputedonthebasisofa365-dayyear andthenumber ofactual dayselapsed.Interest will bepayable onthe MaturityDate exceptasotherwiseset forthherein.TheBorrowermayprepaythisDebenturein whole or in partatanytimewithoutpenalty.Anyamount ofprincipalorinterest on thisDebenturewhich is notpaidwhendue shallbearinterest at therateofeighteenpercent (18%)perannum from theduedate thereofuntil thesame ispaid (“DefaultInterest”). Allpayments duehereunder (to theextentnotconverted intocommon stock of the Borrower (the“CommonStock”)inaccordance with thetermshereof)shall bemade in lawfulmoneyoftheUnitedStates ofAmerica.All paymentsshallbemadeatsuch addressastheHoldershall hereaftergive totheBorrowerby writtennoticemadeinaccordance with the provisions of thisDebenture. Wheneveranyamountexpressedto be dueby the terms of thisDebentureis due onany daywhich is not a businessday, thesame shallinsteadbe due on thenextsucceedingday which is abusiness day and, in thecaseof anyinterest paymentdatewhichis not thedateonwhich thisDebentureispaid in full, theextensionof theduedatethereofshall not betakenintoaccountforpurposesofdetermining theamountofinterest due onsuchdate.Asused in thisDebenture,theterm “businessday” shallmeanany day other than aSaturday, Sundayor adayonwhichcommercialbanksin the city of NewYork,New York are authorized orrequired by laworexecutiveorder toremainclosed.

ThisDebentureisfreefromalltaxes,liens,claimsand encumbranceswithrespecttotheissuethereofand shallnotbesubjecttopreemptiverightsorothersimilarrightsofshareholdersof theBorrowerandwillnot impose personal liability upon theholderthereof.

Thefollowingterms shall applyto thisDebenture:

ARTICLEI.CONVERSION RIGHTS

1.1ConversionRight. TheHoldershallhavetherightfromtimetotime,andatanytimewhilethisDebentureisoutstanding,inrespectoftheremainingoutstandingprincipal amountof this Debenture toconvertalloranypartof theoutstanding and unpaidprincipalamountof thisDebentureintofullypaidandnon-assessablesharesof CommonStock,assuch CommonStockexistson theIssueDate,oranysharesofcapital stock or othersecuritiesof theBorrower intowhich such Common Stock shallhereafter bechangedorreclassifiedattheconversion price (the “ConversionPrice”)determinedasprovidedherein(a“Conversion”).The numberofsharesofCommon Stock to be issueduponeach conversion ofthisDebenture shallbedeterminedbydividingtheConversionAmount(asdefinedbelow)bytheapplicableConversionPricethenineffecton thedatespecifiedinthe noticeofconversion,in theformattached heretoasExhibit A (the“Noticeof Conversion”), deliveredto theBorrowerby the Holder inaccordance withSection 1.4below; provided that the Notice of Conversion is submittedbyfacsimileore-mail(orbyothermeansresultingin,orreasonablyexpectedtoresultin,notice)to theBorrowerbefore6:00p.m.,NewYork, NewYorktimeonsuch conversiondate(the“ConversionDate”).Theterm“Conversion Amount”means, withrespect to anyconversion of thisDebenture, the sum of (1) the principal amount of thisDebenture to beconverted insuch conversionplus(2)attheHolder’soption,accrued andunpaidinterest,ifany,onsuchprincipalamountat theinterestratesprovided in thisDebenture to theConversionDate,plus(3)at theHolder’soption,DefaultInterest,ifany,ontheamountsreferredtoin theimmediatelypreceding clauses (1)and/or (2).

1.2 Conversion Price.

(a)ConversionPrice.Theconversionprice(the “ConversionPrice”)shallbe$1.00pershare, subject toadjustment pursuant to thisSection 1.2.

(b)ConversionPriceDuringMajorAnnouncements. Notwithstandinganything containedinSection1.2(a)tothecontrary,intheeventtheBorrower(i)makesapublicannouncementthatitintendstoconsolidateormergewithanyothercorporation(otherthanamergerinwhich theBorroweris the surviving orcontinuingcorporation and itscapital stockisunchanged)orsell ortransferallorsubstantiallyall of theassetsof theBorrower or (ii)anyperson, group orentity (including theBorrower)publiclyannouncesa tenderoffer topurchase50% ormoreoftheBorrower’s Common Stock (orany othertakeoverscheme) (the dateoftheannouncement referred to inclause (i)or(ii)ishereinafter referredtoasthe “AnnouncementDate”), then the ConversionPrice shall,effective upon theAnnouncement Dateandcontinuing through theAdjusted ConversionPrice TerminationDate(asdefinedbelow), beequal to thelowerof (x) theConversionPricewhich wouldhavebeenapplicable for aConversion occurring ontheAnnouncement Dateand(y)theConversionPricethat wouldotherwisebeineffect. From

2

and aftertheAdjustedConversion PriceTerminationDate,theConversionPrice shallbedetermined assetforthinthisSection1.2(b).Forpurposes hereof,“AdjustedConversion PriceTerminationDate”shallmean,withrespecttoany proposedtransactionortenderoffer(ortakeover scheme) for which a public announcementascontemplated by thisSection1.2(b)has beenmade, thedate uponwhichtheBorrower (in thecaseofclause (i)above) or theperson, group or entity (in thecaseofclause (ii) above)consummates or publiclyannouncesthetermination or abandonment of theproposedtransaction or tender offer (ortakeover scheme)whichcausedthis Section1.2(b) tobecomeoperative.

1.3AuthorizedShares.TheBorrowercovenantsthatduringtheperiodtheconversionrightexists,theBorrowerwillreservefromitsauthorizedandunissuedCommonStockasufficientnumberofshares, freefrompreemptiverights,toprovidefortheissuanceofCommon Stock upon thefullconversion ofthisDebenture.The Borrowerisrequired at alltimestohaveauthorizedandreservedtwoanda half (2.5)timesthe number ofsharesthatisactuallyissuable upon fullconversion of theDebenture(basedon theConversionPrice of the Debenture ineffect from time to time) (the“ReservedAmount”). Notwithstanding theforegoing, in noevent shalltheReservedAmountbelowerthantheinitial Reserved Amount,regardlessofany priorconversions. TheBorrowerrepresents that uponissuance, suchshares will be dulyand validlyissued, fully paidand non-assessable. Inaddition, if theBorrowershallissueanysecuritiesor makeany change toitscapitalstructurewhichwouldchange the number ofshares of Common Stock intowhich theDebentures shall be convertibleat the thencurrentConversionPrice, the Borrowershall at the same time make proper provision so thatthereafterthere shall be asufficientnumberofsharesofCommonStockauthorizedand reserved,freefrompreemptive rights, forconversionof theoutstandingDebenture. TheBorroweragrees that itsissuanceof thisDebentureshall constitutefullauthority toitsofficersandagentswhoarechargedwiththe dutyofexecuting stockcertificatestoexecute and issue the necessarycertificates forshares of Common Stock inaccordancewith thetermsand conditions of thisDebenture.

If, atanytimetheBorrowerdoesnotmaintaintheReservedAmount,itwillbeconsideredan Event ofDefaultunder Section 2.2 ofthe Debenture.

1.4 Methodof Conversion.

(a)MechanicsofConversion.SubjecttoSection1.1,thisDebenturemaybeconvertedbytheHolderinwholeorinpart atanytime,by(A) submittingtotheBorroweraNoticeofConversion(by facsimile,e-mailorotherreasonable means ofcommunicationdispatched on theConversion Datepriorto 6:00 p.m.,NewYork,NewYorktime)and

(B) subject toSection1.4(b),surrenderingthisDebenture at theprincipal officeof the Borrower.

(b)SurrenderofDebentureUponConversion.Notwithstandinganythingtothecontrarysetforth herein,uponconversionofthisDebentureinaccordancewiththetermshereof,theHoldershallnotberequiredtophysicallysurrenderthisDebenturetotheBorrower unlesstheentireunpaid principalamount of thisDebentureis soconverted. TheHolderandtheBorrowershallmaintainrecords showingtheprincipalamountsoconvertedandthedatesofsuchconversions orshall usesuch othermethod, reasonablysatisfactoryto theHolder and theBorrower, soasnot to requirephysicalsurrenderof thisDebenture uponeachsuchconversion.

3

Intheeventofanydisputeordiscrepancy, suchrecordsoftheBorrowershall,primafacie,becontrollingand determinativeintheabsence ofmanifest error.Notwithstandingtheforegoing,ifanyportionofthisDebentureisconvertedasaforesaid,theHoldermaynottransferthisDebenture unless theHolder first physicallysurrenders thisDebentureto theBorrower,whereupon the Borrower willforthwith issue anddeliver upon the order of the Holder anewDebentureofliketenor,registeredastheHolder(uponpaymentbytheHolder ofanyapplicabletransfertaxes)mayrequest,representingintheaggregatetheremainingunpaidprincipal amount ofthisDebenture. TheHolder andanyassignee,byacceptanceofthisDebenture, acknowledgeandagreethat,byreasonof theprovisions of thisparagraph, following conversion ofaportion of thisDebenture,theunpaidandunconvertedprincipalamount ofthisDebenturerepresentedby thisDebenturemaybelessthan theamountstatedon theface hereof.

(c)PaymentofTaxes.TheBorrower shallnotberequiredtopayanytaxwhichmaybepayableinrespectof anytransferinvolvedintheissueanddeliveryofsharesofCommonStockorothersecuritiesorproperty onconversionofthis Debentureinanameother than that of the Holder (or in street name),and theBorrowershall notberequired to issue ordeliveranysuchsharesor other securities or property unlessand until theperson orpersons(otherthantheHolderorthecustodianin whosestreet namesuchshares aretobeheld fortheHolder’s account)requestingtheissuancethereofshall havepaidtotheBorrowertheamountof anysuch taxorshallhaveestablishedto thesatisfaction of theBorrowerthatsuch taxhasbeen paid.

(d)DeliveryofCommonStockUponConversion.UponreceiptbytheBorrowerfromtheHolderofafacsimiletransmissionore-mail(orotherreasonablemeansofcommunication) of a Notice ofConversionmeeting therequirements forconversionasprovided in thisSection1.4, theBorrowershall issueand deliver orcause tobeissuedanddelivered to or upon theorderof the Holdercertificatesfor the Common Stockissuable uponsuch conversion withinthree (3) businessdays after such receipt (the“Deadline”)(and,solely in thecase ofconversion of theentireunpaid principal amounthereof,surrenderofthisDebenture) inaccordancewith thetermshereof.

(e)ObligationofBorrowertoDeliverCommonStock.UponreceiptbytheBorrowerofaNoticeofConversion,theHoldershallbedeemedtobetheholder ofrecordoftheCommonStockissuableuponsuchconversion,theoutstandingprincipalamountandtheamountofaccruedand unpaidinterestonthisDebentureshallbereducedtoreflectsuchconversion,and,unless theBorrowerdefaultson itsobligations underthisArticle I,all rights withrespectto theportion of thisDebenturebeing soconvertedshall forthwithterminateexcept the right toreceivetheCommonStockorothersecurities,cashorotherassets,as hereinprovided,onsuchconversion.IftheHolder shallhavegivenaNotice ofConversionasprovided herein, theBorrower’sobligation to issueanddeliverthecertificatesforCommonStockshall beabsoluteandunconditional, irrespective oftheabsenceofanyactionby theHoldertoenforcethesame,anywaiveror consent withrespect toanyprovisionthereof, the recoveryofanyjudgment againstany personor any action toenforce the same,anyfailureor delay in the enforcement of any otherobligationoftheBorrowertotheholder ofrecord,or anysetoff,counterclaim,recoupment,limitationortermination,or anybreachoralleged breachby theHolderofanyobligation to theBorrower, andirrespective ofany other circumstancewhich mightotherwise

4

limitsuchobligationoftheBorrowertotheHolderinconnectionwithsuchconversion.TheConversionDatespecifiedintheNoticeofConversionshallbetheConversionDatesolongastheNoticeofConversionisreceivedby theBorrowerbefore6:00p.m.,NewYork,NewYork time, onsuchdate.

(f)DeliveryofCommonStockbyElectronicTransfer.Inlieuofdeliveringphysical certificatesrepresentingtheCommonStock issuableuponconversion, providedtheBorrowerisparticipatingintheDepositoryTrustBorrower(“DTC”) FastAutomatedSecuritiesTransfer(“FAST”)program, uponrequestof theHolderand itscompliancewith theprovisionscontained in Section 1.1and in this Section 1.4, theBorrowershall use itsbest efforts tocause itstransfer agent toelectronically transmit theCommon Stockissuable upon conversion to theHolderbycrediting theaccountofHolder’s PrimeBroker withDTC through itsDeposit WithdrawalAgent Commission (“DWAC”)system.

1.5ConcerningtheShares.ThesharesofCommonStockissuableuponconversionofthisDebenturemaynotbesoldortransferredunless(i)such sharesaresoldpursuanttoaneffective registrationstatementundertheSecuritiesActof1933,asamended(the“SecuritiesAct”) or (ii) theBorrower or itstransfer agentshallhave beenfurnishedwithan opinionofcounsel(whichopinionshallbeinform, substance andscopecustomary foropinionsofcounselincomparabletransactions)to theeffect that theshares to besold or transferredmay be sold ortransferred pursuant toan exemptionfromsuchregistrationor (iii)suchsharesare sold ortransferred pursuant to Rule 144under theAct (orasuccessor rule) (“Rule 144”) or (iv)suchshares aretransferredtoan“affiliate”(asdefinedinRule144)oftheHolder whoagreestosell orotherwisetransfertheshares only inaccordance with thisSection 1.5and who isan accreditedinvestor.Untilsuchtimeastheshares ofCommonStockissuableuponconversionofthisDebenturehavebeenregisteredunderthe SecuritiesAct orotherwisemaybesoldpursuant toRule144withoutanyrestrictionastothenumberofsecuritiesasof aparticulardatethatcanthen be immediatelysold,each certificateforshares of Common Stock issuable uponconversion ofthisDebenturethathasnotbeen soincluded inan effectiveregistrationstatementorthathasnotbeensoldpursuant toaneffective registrationstatementoranexemptionthatpermits removal ofthe legend, shallbeara legend substantially in thefollowing form, asappropriate:

“NEITHER THEISSUANCE ANDSALEOFTHESECURITIESREPRESENTED BYTHISCERTIFICATENORTHESECURITIES INTOWHICHTHESESECURITIES AREEXERCISABLEHAVEBEEN REGISTEREDUNDERTHESECURITIESACTOF1933,ASAMENDED,ORAPPLICABLE STATESECURITIESLAWS.THE SECURITIES MAY NOTBEOFFEREDFORSALE,SOLD,TRANSFERREDORASSIGNED(I)IN THEABSENCE OF(A)ANEFFECTIVEREGISTRATION STATEMENTFOR THE SECURITIESUNDER THESECURITIESACTOF 1933,ASAMENDED, OR(B) AN OPINION OFCOUNSEL(WHICHCOUNSELSHALLBE SELECTEDBYTHEHOLDER),IN AGENERALLYACCEPTABLE FORM,THATREGISTRATIONISNOTREQUIREDUNDER SAIDACT OR (II)UNLESS SOLDPURSUANTTORULE 144 ORRULE144AUNDERSAIDACT.NOTWITHSTANDINGTHEFOREGOING,THESECURITIES MAYBE PLEDGED INCONNECTIONWITHABONAFIDEMARGINACCOUNTOR OTHER LOANORFINANCINGARRANGEMENT SECURED BYTHESECURITIES.”

5

ThelegendsetforthaboveshallberemovedandtheBorrowershallissuetotheHolderanewcertificatethereforefreeofanytransferlegendif(i)theBorroweroritstransfer agentshallhavereceivedanopinion of counsel,inform, substanceandscopecustomary foropinions ofcounsel incomparable transactions, to theeffect that a public sale ortransferofsuchCommon Stock maybe made withoutregistration under theSecurities Act,which opinionshall beaccepted by theBorrowerso that thesale ortransfer iseffected or (ii) in thecaseof the CommonStockissuableuponconversionofthisDebenture,suchsecurityisregisteredforsalebytheHolderunderaneffectiveregistration statementfiledunder theSecurities Actorotherwise maybesoldpursuant to Rule144without anyrestrictionastothenumber ofsecuritiesas of a particular date thatcan then be immediately sold.

1.6 EffectofCertain Events.

(a)EffectofMerger,Consolidation,Etc.AttheoptionoftheHolder,thesale, conveyanceordispositionofallorsubstantiallyalloftheassetsoftheBorrower,theeffectuationbytheBorrower of atransactionor series ofrelated transactions inwhich more than 50% of the voting power of theBorroweris disposed of,or the consolidation,mergeror otherbusinesscombination of theBorrower with or into anyotherPerson (asdefined below) orPersons when theBorrower is not the survivorshallbetreated pursuant toSection1.6(b)hereof.“Person” shallmeanany individual,corporation, limitedliabilitycompany, partnership,association, trust orotherentity ororganization.

(b)AdjustmentDuetoMerger,Consolidation,Etc.If,atanytimewhenthisDebentureisissuedand outstandingandpriortoconversionofalloftheDebenture,thereshall beanymerger,consolidation,exchangeofshares, recapitalization,reorganization, or othersimilar event,asaresultofwhichsharesofCommonStockoftheBorrowershallbechanged into thesameor a different numberofsharesofanotherclassor classesof stock or securities of theBorroweroranotherentity, or incaseof anysale orconveyance ofall or substantiallyall of theassetsoftheBorrowerother thaninconnectionwithaplanof completeliquidationoftheBorrower, then theHolder of thisDebentureshallthereafter have the right toreceive uponconversionof thisDebenture, upon the basisandupon the termsand conditionsspecified hereinandinlieuofthesharesofCommonStockimmediately theretoforeissuableuponconversion,suchstock, securities orassetswhich the Holder wouldhavebeenentitledtoreceive in suchtransactionhad thisDebenture beenconvertedin full immediatelyprior tosuchtransaction(withoutregardtoany limitations onconversionsetforthherein),and in anysuch caseappropriateprovisionsshall be made withrespect to the rightsandinterests of the Holder of thisDebenture to theend that the provisionshereof(including, without limitation, provisions foradjustment of theConversion Priceand of the number ofsharesissuable uponconversion of theDebenture) shall thereafter beapplicable,asnearlyasmay bepracticableinrelationtoanysecuritiesorassetsthereafter deliverable upontheconversionhereof. TheBorrowershallnoteffectanytransaction described in thisSection1.6(b) unless(a) itfirst gives, to theextent practicable, thirty (30)days priorwrittennotice (but inanyeventatleastfifteen (15)days priorwrittennotice) of the recorddateof thespecial meeting of shareholders toapprove,orif there is

6

nosuchrecord date,theconsummationof,suchmerger,consolidation, exchangeofshares, recapitalization,reorganizationorothersimilar eventorsaleofassets(duringwhichtimetheHolder shallbeentitledtoconvertthisDebenture)and(b)theresultingsuccessororacquiringentity(if not the Borrower)assumes bywritteninstrument the obligations of thisSection1.6(b). Theaboveprovisionsshall similarly apply tosuccessive consolidations,mergers, sales,transfersorshareexchanges.

(c)PurchaseRightsIf,atanytimewhenthisDebenture isoutstanding,theBorrowerissuesanyconvertiblesecuritiesorrightstopurchasestock,warrants,securitiesorotherproperty (the“Purchase Rights”) proratato therecordholdersofanyclass of Common Stock,then theHolder of thisDebenturewill beentitledtoacquire,upontheterms applicabletosuchPurchaseRights, theaggregatePurchase RightswhichsuchHolder couldhaveacquired ifsuchHolderhadheldthenumber ofsharesofCommonStockacquirableupon completeconversion of this Debenture(without regard toanylimitations onconversioncontainedherein) immediatelybeforethedate onwhich a recordistaken for the grant,issuanceorsale ofsuch Purchase Rights or, if nosuchrecordis taken, the dateas ofwhich therecord holdersof CommonStockare tobedeterminedfor thegrant,issueorsale ofsuchPurchase Rights. Notwithstandingtheforegoing, theHolderofthisDebenture shall not beentitledtosuchPurchase Rights inconnectionwithissuances of (a)sharesof Common Stock or options toemployees, officers, directors orconsultantsofthe Borrowerpursuant toanystock oroption plan oragreement dulyadopted forsuchpurposebythe Board ofDirectorsor a majorityof themembersof acommittee of non-employee directorsestablishedforsuchpurpose,(b)securitiesissued upon theexercise, exchange or conversion of thisDebenture and/or other securities,options,warrants, convertiblesecuritiesor otherrights toacquire,exercisableorexchangeable for orconvertible into,shares ofCommonStock,ineachcasethatareissuedandoutstandingon theIssueDate,provided thatsuch securitieshavenotbeenamendedsincetheIssueDate toincrease the number of suchsecuritiesor todecrease the exercise, exchange or conversion price ofsuchsecurities,(c)securitiesissued pursuanttoacquisitions ofcompanies, assets orintellectual property (orlicensingofassets orintellectualproperty)orstrategictransactionsapprovedby a majority of the disinterested directors of the Borrower, provided thatanysuchissuanceshall only be to a Personwhichis, itself or through itssubsidiaries, anoperating companyor a university of othernon-financial institutionand inwhichtheBorrower receivesbenefits inaddition totheinvestment of funds, (d)securitiesissued orissuable inconnection withany other transaction that is notfor the primary purpose offinancing the Borrower’sbusiness,butshallnotincludeatransactioninwhichtheBorrower isissuing securitiesprimarily forthepurposeofraisingcapital or toan entity whose primarybusiness is investing insecurities.

(d)IssuanceofLowerPricedSecurities.If,atanytimewhilethisDebentureisoutstanding,theBorroweroranysubsidiary,as applicable,sellsorgrantsanyoptiontopurchaseorsells orgrantsanyrighttoreprice,orotherwisedisposesoforissues(orannouncesany sale, grant or any option topurchaseor other disposition), any Common Stock or Common StockequivalentsentitlinganyPerson toacquiresharesof Common Stockataneffectivepriceper sharethatislower than thethenConversion Price(such lowerprice,the“BaseConversionPrice”),then theConversionPrice shall bereduced to equal theloweroftheBaseConversionPriceor theConversionPriceas setforthabove.Suchadjustmentshallbe madewheneversuch Common Stock orCommonStockequivalentsare issued(eacha“Dilutive

7

Issuance”).Ifthe Borrowerentersintoavariableratetransaction,theBorrowershallbedeemedtohaveissuedCommonStockorCommon Stockequivalentsatthelowestpossibleconversionprice atwhich such securities may be converted orexercised. TheBorrower shallnotify theHolder inwriting,nolater than one(1) Business Day following theissuance of any Common Stock or CommonStock equivalents subject to thisSection1.6(d), indicatingtherein theapplicableissuance price, orapplicablereset price,exchangeprice, conversionpriceand otherpricing terms(suchnotice,the“DilutiveIssuanceNotice”).Fortheavoidanceofdoubt,whetherornottheBorrowerprovidesaDilutiveIssuanceNoticepursuanttothisSection 1.6(d),upontheoccurrenceof anyDilutiveIssuance,theHolder willbeentitledto receivea numberofsharesof CommonStock based upon theBaseConversionPrice on orafter thedateofsuch DilutiveIssuance,regardlessof whether the Holder accuratelyrefers to theBaseConversionPrice in the NoticeofConversion.

(e)NoticeofAdjustments.Upontheoccurrenceofeach adjustmentorreadjustmentoftheConversion Priceasaresultoftheevents describedinthisSection1.6,theBorrower, atitsexpense,shallpromptlycomputesuchadjustmentorreadjustmentand prepareandfurnish to theHolder acertificatesettingforthsuchadjustmentorreadjustmentandshowing indetail thefacts uponwhichsuch adjustment orreadjustmentisbased. TheBorrower shall, upon thewrittenrequestatany time of the Holder,furnish tosuchHolder a like certificatesettingforth(i)suchadjustmentorreadjustment,(ii)theConversion Priceatthetimeineffectand(iii)thenumberofshares ofCommonStockandtheamount,ifany, ofothersecuritiesor propertywhichat thetimewould bereceived uponconversionoftheDebenture.

1.7StatusasShareholder.UponsubmissionofaNoticeofConversionbyaHolder,(i)thesharescoveredtherebyshallbedeemedconvertedintosharesofCommonStockand(ii)theHolder’srightsasaHolderofsuch convertedportionofthisDebentureshall ceaseandterminate, exceptingonlytherighttoreceivecertificatesforsuchsharesofCommonStockand toanyremedies providedherein or otherwiseavailableat law or in equitytosuchHolderbecauseof afailurebytheBorrower to complywith theterms of thisDebenture. Notwithstanding theforegoing, if a Holder has notreceivedcertificates forallsharesof Common Stock prior to thetenth (10th)business dayafter theexpiration of theDeadline withrespect toaconversionofany portion of thisDebenture for anyreason, then(unless the Holderotherwiseelects toretainits statusas a holder of CommonStockbysonotifying theBorrower) the Holdershallregain the rights of aHolderof thisDebenturewithrespect tosuchunconvertedportions of thisDebentureand theBorrowershall,assoonaspracticable, returnsuch unconvertedDebenture to theHolderor, if theDebenturehas notbeen surrendered,adjustitsrecordstoreflectthat suchportionof thisDebenture has notbeen converted.

ARTICLEII.EVENTS OF DEFAULT

Ifanyof thefollowingeventsofdefault(each,an“EventofDefault”) shalloccurif notcured within ten (10)business days followingHolder’swrittennotice:

8

2.1FailuretoPayPrincipalorInterest.Anydefaultinthepaymentoftheprincipalof,interestonorotherchargesinrespectofthisDebenture,freeofanyclaimofsubordination,as andwhen thesameshallbecome dueandpayablewhetherupon the MaturityDate or byaccelerationor otherwise.

2.2ConversionandtheShares.TheBorrowerfailstoissuesharesofCommonStocktotheHolder(orannouncesorthreatensinwritingthatitwillnothonoritsobligationtodoso)upon exercisebytheHolderoftheconversionrightsoftheHolderinaccordancewiththetermsof thisDebenture,failstotransfer orcauseitstransfer agenttotransfer(issue)(electronicallyorincertificated form)anycertificateforsharesofCommon Stockissuedto theHolderupon conversion oforotherwisepursuant to thisDebentureasandwhen required bythisDebenture, theBorrowerdirects itstransfer agent not totransfer ordelays,impairs,and/orhindersitstransferagent intransferring(or issuing)(electronically or incertificatedform)anycertificateforsharesofCommonStocktobeissuedtotheHolderuponconversion oforotherwise pursuant to thisDebenture asandwhen required by thisDebenture, orfails toremove (ordirectsitstransfer agent not toremove orimpairs,delays,and/orhinders itstransferagentfrom removing) anyrestrictivelegend(or to withdraw any stoptransferinstructionsinrespect thereof) on any certificate for anysharesof Common Stockissued to theHolderuponconversion of orotherwise pursuant to thisDebentureasand whenrequiredbythisDebenture(ormakes any writtenannouncement, statement orthreat that itdoes notintend to honorthe obligations described inthisparagraph)andanysuchfailureshall continueuncured(oranywritten announcement,statementorthreat not to honor itsobligations shall not berescinded inwriting) forthree (3)businessdays after theHoldershallhave delivered a Notice ofConversion. It isanobligation of the Borrower toremaincurrentin its obligations to itstransferagent.Itshall beanevent ofdefault ofthisDebenture, ifa conversion ofthisDebentureisdelayed,hindered orfrustrateddue to a balance owedby the Borrower to itstransfer agent. If at the optionof theHolder,theHolderadvances anyfunds totheBorrower’stransfer agentinorder toprocessa conversion,suchadvanced funds shall bepaidbytheBorrower to theHolder within fortyeight (48) hours of a demand from theHolder.

2.3BreachofCovenants.TheBorrower breachesanymaterial covenantorothermaterialtermorconditioncontainedinthisDebentureandanycollateraldocumentsandsuchbreach continuesfor a periodof ten (10) daysafterwrittennotice thereof to theBorrowerfrom the Holder.

2.4BreachofRepresentationsandWarranties.AnyrepresentationorwarrantyoftheBorrowermadehereinorinanyagreement,statementorcertificategiveninwritingpursuantheretoorinconnectionherewith, shallbefalseormisleadinginanymaterial respect when made and the breach ofwhichhas(orwith thepassageof timewillhave) amaterial adverseeffect on therights of theHolder withrespect to thisDebenture.

2.5Bankruptcy,ReceiverorTrustee.TheBorroweroranysubsidiaryoftheBorrowershallcommence,orthereshallbecommencedagainsttheBorroweroranysubsidiaryof theBorrowerunderanyapplicablebankruptcyor insolvency lawsas now orhereafterineffect or any successorthereto,or theBorrower orany subsidiaryof theBorrowercommencesany otherproceedingunderanyreorganization,arrangement,adjustment ofdebt,reliefof debtors,

9

dissolution, insolvencyorliquidationorsimilarlawofanyjurisdictionwhethernoworhereafterineffectrelatingtotheBorroweroranysubsidiaryoftheBorrowerorthereiscommencedagainsttheBorroweror any subsidiaryoftheBorroweranysuchbankruptcy, insolvency orotherproceedingwhich remains undismissed for aperiod of 61 days; ortheBorrower oranysubsidiary of theBorrower isadjudicated insolvent orbankrupt; or anyorderofrelief or otherorderapprovinganysuchcaseorproceedingisentered;or theBorroweroranysubsidiaryof theBorrower suffersany appointment of anycustodian, private orcourt appointedreceiveror the likefor it oranysubstantialpartofitspropertywhichcontinues undischarged orunstayed for aperiodofsixty one(61)days;ortheBorroweror any subsidiaryoftheBorrower makesageneral assignment for thebenefit ofcreditors;or the Borrower orany subsidiary oftheBorrower shallfail topay,orshall statethat it isunable to pay,orshallbeunabletopay,itsdebts generallyas they becomedue; or theBorrower oranysubsidiary of the Borrower shallcall ameetingof itscreditorswith a view toarranging acomposition, adjustmentor restructuring of itsdebts; or theBorrowerorany subsidiaryof theBorrowershallbyanyactorfailure toact expressly indicate itsconsent to,approval of oracquiescencein anyof theforegoing; oranycorporateor otheractionistakenby the Borrower oranysubsidiary of theBorrower for thepurposeofeffecting anyofthe foregoing.

2.6IndebtednessDefault.TheBorroweroranysubsidiaryoftheBorrowershalldefaultinanyofitsobligationsunderanyotherdebentureorany mortgage,credit agreement or otherfacility, indentureagreement, factoringagreementorotherinstrument underwhichtheremaybeissued,orbywhichtheremay besecuredorevidencedanyindebtednessforborrowedmoneyor moneydueunderanylongtermleasing orfactoringarrangementof theBorrower oranysubsidiary of theBorrower inanamount exceeding $25,000,whethersuchindebtedness nowexistsorshallhereafter be createdandsuchdefault shallresult insuchindebtedness becomingorbeingdeclareddue andpayable prior tothedateonwhichitwouldotherwisebecome due andpayable.

2.7Liquidation.Anydissolution,liquidation,orwindingupofBorroweroranysubstantial portion ofitsbusiness.

2.8CessationofOperations. AnycessationofoperationsbyBorrowerorBorroweradmitsitisotherwisegenerallyunabletopayitsdebtsas suchdebtsbecomedue,provided,however,thatanydisclosureregardingtheBorrower’sabilitytocontinue asa“going concern” shall not beanadmissionthat theBorrowercannotpayitsdebts as they become due.

2.9MaintenanceofAssets. ThefailurebyBorrowertomaintainanyassets whicharenecessaryto conduct its business(whethernow orin thefuture).

Upon theoccurrenceandduringthecontinuationofany EventofDefaultforaperiodoften(10)days,theDebentureshallbecomeimmediatelydueandpayableandtheBorrowershallpaytotheHolder,in fullsatisfactionofitsobligationshereunder, anamount equal to 150%timesthesumof (w) the then outstandingprincipalamount of thisDebentureplus(x)accruedand unpaidinterest on the unpaid principalamount of this Debentureto thedate ofpayment (the “MandatoryPrepaymentDate”)plus(y)DefaultInterest, ifany, on theamountsreferredto inclauses (w)and/or (x) (the thenoutstandingprincipalamountof thisDebenture to thedate ofpaymentplus

10

theamountsreferredtoinclauses(x)and(y)shallcollectivelybeknownasthe“DefaultSum”)andallotheramountspayablehereunder shallimmediatelybecomedueandpayable,allwithoutdemand,presentmentornotice,allofwhichherebyareexpressly waived,togetherwithallcosts,including, withoutlimitation, legalfeesand expenses, ofcollection,and theHoldershall beentitledtoexerciseallother rights andremedies availableat law or inequity.

If, atanytimethereisanEventofDefaultandiftheBorrower failstopaytheDefaultSumwithinfive(5)businessdaysofwrittennoticethatsuchamountisdueandpayable,thentheHoldershallhavetherightatany time,solongastheBorrowerremainsindefault(andsolongandto theextent thatthere aresufficientauthorizedshares),torequire theBorrower, uponwrittennotice, toimmediately issue, inlieu oftheDefault Sum, the number ofsharesof CommonStockoftheBorrowerequaltotheDefault Sumdividedby theConversionPricethen ineffect.

2.10FailuretoTransmitConversion Notice.IntheeventtheBorrowershallreceiveanoticeofconversionorlegalopinionfromtheHolderandshallfailtotransmit eitherofsuch documentstotheBorrower’stransferagent(iftheBorrowerhasatransferagentatsuchtime)within 24 hoursfromreceipt (the “TransmittalDeadline”),Borrower shall pay toInvestor the sum of$1,000 per day or portionthereofforanydayaftertheTransmittalDeadline.

ARTICLEIII.MISCELLANEOUS

3.1FailureorIndulgenceNotWaiver.NofailureordelayonthepartoftheHolderintheexerciseofany power,rightorprivilegehereundershalloperateas awaiver thereof, norshall any single orpartial exercise ofanysuchpower,right or privilege preclude other orfurther exercisethereofor ofanyother right,powerorprivileges. All rightsandremediesexisting hereunderarecumulativeto,andnotexclusiveof,any rightsorremediesotherwise available.

3.2Notices.Allnotices,demands, requests,consents,approvals, andothercommunications requiredorpermitted hereundershallbeinwritingand,unlessotherwise specifiedherein,shallbe(i)personallyserved,(ii)depositedinthemail,registeredorcertified, returnreceiptrequested,postage prepaid, (iii)deliveredbyreputable aircourierservicewithchargesprepaid,or(iv)transmittedbyhand delivery,telegram, or facsimile,addressed as setforthbelowortosuchotheraddressassuchparty shallhavespecifiedmostrecentlybywritten notice.Anynoticeorothercommunicationrequiredor permittedtobe givenhereundershallbedeemedeffective (a) uponhanddeliveryor delivery byfacsimile, withaccurateconfirmationgeneratedbythe transmittingfacsimile machine,at theaddress or numberdesignatedbelow (ifdeliveredon a businessday duringnormalbusiness hours wheresuch noticeis to bereceived),orthefirstbusinessdayfollowingsuch delivery(ifdeliveredother than on abusinessdayduringnormalbusiness hourswheresuch notice is to bereceived)or (b) on thesecondbusinessdayfollowing thedate of mailingbyexpresscourier service, fully prepaid,addressed tosuch address,or uponactualreceiptofsuch mailing,whichevershall first occur. Theaddresses forsuch communications shall be:

11

Ifto the Borrower, to:

PladeoCorp.

Attention:ChiefExecutive OfficerTelephone:

With acopybyfax onlyto(which copyshallnot constitute notice):

Ifto theHolder:

3.3Amendments.ThisDebenture andanyprovisionhereofmayonlybeamendedbyan instrumentinwritingsignedbytheBorrowerandtheHolder.Theterm“Debenture” andallreferencethereto, asused throughoutthisinstrument,shallmeanthisinstrumentas originallyexecuted, or iflateramendedorsupplemented, thenas soamendedorsupplemented.

3.4Assignability.ThisDebentureshallbebindingupontheBorroweranditssuccessorsand assigns,andshallinuretobethebenefitoftheHolder anditssuccessors andassigns.Eachtransfereeof thisDebenture must bean“accreditedinvestor”(asdefinedinRule501(a)ofthe SecuritiesAct). Notwithstandinganythingin this Debenture to thecontrary, thisDebenturemay be pledgedascollateralinconnection with abona fidemargin account or other lendingarrangement.

3.5CostofCollection.IftheBorrowerdefaultsinthepaymentofthisDebenture,theBorrowershallpaytheHolderhereofcostsofcollection,includingreasonableattorneys’fees.

3.6GoverningLaw.ThisDebentureshallbegovernedbyandconstruedinaccordancewiththelawsoftheStateofNewYorkwithoutregardtoprinciplesofconflictsoflaws.Anyactionbrought byeitherpartyagainst theotherconcerningthetransactionscontemplated by thisDebentureshall bebroughtonly in the statecourts ofNewYork or in thefederalcourts locatedin thestateandcountyofNassau.Theparties to thisDebenturehereby irrevocably waive any objection tojurisdictionand venue of any action institutedhereunderand shall notassert anydefensebased onlack ofjurisdictionorvenue orbased uponforum nonconveniens. The Borrowerand Holderwaive trial by jury. The prevailing partyshall beentitledtorecoverfromtheotherpartyitsreasonable attorney'sfeesand costs. Intheeventthatany provisionof thisDebentureor any otheragreementdeliveredinconnectionherewithisinvalidorunenforceableunderanyapplicablestatuteorruleoflaw,thensuchprovisionshallbedeemed

12

inoperativetotheextentthatitmayconflicttherewith andshallbedeemedmodifiedtoconformwithsuchstatuteorruleoflaw.Anysuchprovisionwhichmayproveinvalidorunenforceable underanylawshallnotaffectthevalidityor enforceabilityofanyotherprovision ofanyagreement.Eachpartyhereby irrevocablywaivespersonalserviceofprocess and consents toprocessbeingserved in any suit,action orproceedingin connection with thisDebenturebymailing a copythereof viaregisteredor certified mail orovernight delivery(withevidenceofdelivery) tosuchpartyat theaddress ineffect for notices to itunder thisDebentureand agrees thatsuchserviceshall constitutegoodand sufficientserviceofprocessandnotice thereof.Nothingcontainedherein shall bedeemed tolimit in anywayanyright toserveprocess in any othermannerpermittedbylaw.

3.7CertainAmounts.WheneverpursuanttothisDebenturetheBorrowerisrequiredtopayanamountinexcessoftheoutstandingprincipalamount(ortheportionthereofrequiredtobepaidatthattime)plusaccruedandunpaidinterestplusDefaultInterestonsuchinterest,theBorrower and theHolderagreethat theactualdamages to theHolderfrom thereceiptofcashpayment on thisDebenturemaybedifficult todetermine and theamount to besopaidby theBorrowerrepresentsstipulated damagesand not a penaltyand is intended tocompensate the Holder inpartfor loss of the opportunity toconvert thisDebentureand toearn areturnfromthesale ofshares of Common Stockacquired upon conversion of thisDebenture at apriceinexcessofthepricepaidforsuchsharespursuanttothisDebenture. TheBorrower andtheHolderherebyagreethat suchamount ofstipulateddamages is not plainlydisproportionate to the possible loss to theHolder from thereceipt of acashpaymentwithout the opportunitytoconvert thisDebentureintoshares of Common Stock.

3.8NoticeofCorporateEvents.Exceptas otherwiseprovidedbelow,theHolderofthisDebentureshallhavenorightsasaholderofCommonStockunlessandonlytotheextentthatitconvertsthisDebentureintoCommonStock.TheBorrowershallprovidetheHolder with priornotificationof anymeeting of theBorrower’s shareholders(and copies of proxymaterials andotherinformation senttoshareholders).Intheeventof anytakingbytheBorrower of arecord of itsshareholders for thepurpose ofdetermining shareholders who areentitled toreceivepayment of anydividend or other distribution, any right tosubscribefor,purchase or otherwiseacquire(including by way ofmerger,consolidation, reclassification orrecapitalization) any share of any class or any othersecurities orproperty, or toreceiveany other right, or for thepurposeofdetermining shareholders whoare entitled to vote inconnection with any proposedsale, lease orconveyance ofall or substantiallyall of theassets of theBorrower or anyproposedliquidation,dissolutionor winding upof theBorrower,theBorrowershallmailanoticeto theHolder,atleasttwenty (20)days prior to therecord datespecifiedtherein (or thirty (30)days prior to the consummation of thetransactionorevent,whichever isearlier),of the date onwhichanysuch recordistobetakenforthepurposeofsuchdividend,distribution,rightor otherevent,andabriefstatement regarding theamountand character ofsuchdividend, distribution, rightorothereventtotheextentknownatsuchtime. TheBorrower shallmakea publicannouncementof anyeventrequiringnotification to theHolder hereunder substantially simultaneously with thenotificationto theHolderinaccordancewith thetermsofthisSection3.8.

13

3.9Remedies.TheBorrower acknowledgesthatabreachbyitofitsobligationshereunderwillcauseirreparableharmtotheHolder,byvitiatingtheintentandpurposeof the transactioncontemplatedhereby. Accordingly, theBorroweracknowledgesthat theremedyatlawforabreachofitsobligationsunderthisDebenturewillbeinadequate andagrees, in theeventofabreachorthreatenedbreachbytheBorrowerof theprovisions of thisDebenture,that the Holdershall beentitled, inaddition toall otheravailable remediesat law or inequity,andin addition to the penalties assessableherein, toaninjunction orinjunctionsrestraining, preventing orcuringanybreach of thisDebentureand toenforce specificallytheterms andprovisionsthereof,without thenecessity ofshowingeconomic lossandwithout any bond orother security beingrequired.

3.10Severability.If anyprovisionofthisDebentureisinvalid,illegalorunenforceable,thebalanceofthisDebentureshallremainineffect,andifanyprovisionisinapplicabletoany personorcircumstance,itshallneverthelessremainapplicabletoallotherpersonsandcircumstances.If itshall be found thatanyinterest or other amountdeemedinterest duehereunder shallviolate applicablelaws governingusury, the applicablerateofinterestduehereundershallautomaticallybelowered to equal the maximumpermitted rate ofinterest. TheBorrower covenants(to theextent that itmay lawfully do so) that itshall notatanytime insist upon,plead, or in anymanner whatsoever claim or take thebenefit oradvantageof,any stay,extension or usury lawor other lawwhich would prohibit orforgive theBorrower frompaying alloranyportion oftheprincipal oforintereston thisDebenture ascontemplatedherein,wherever enacted, now oratany timehereafter inforce,orwhichmay affect the covenants ortheperformance of thisindenture,and theBorrower(to theextent it may lawfullydo so) hereby expresslywaivesallbenefitsoradvantageof any suchlaw, and covenants thatit willnot,byresorttoanysuchlaw,hinder,delayorimpededtheexecutionof any powerhereingrantedtotheHolder, but willsufferandpermit theexecution of everysuchas though nosuchlaw has beenenacted.

(SignaturePages Follow)

14

INWITNESSWHEREOF,Borrower hascausedthisDebenturetobesignedinitsnamebyits dulyauthorizedofficer thisMarch, 2014

PLADEO CORP.

By:	/s/
	Name:
	Title:

15

EXHIBIT ACONVERSIONNOTICE

(To be executed by theHolderinordertoConverttheDebenture)

TO:

Theundersignedherebyirrevocablyelectstoconvert$oftheprincipal amountand$inaccruedinterestoftheDebenture datedMarch,2014intoSharesofCommonStockofPLADEOCORP., accordingto theconditions statedtherein,asoftheConversion Datewritten below.

Conversion Date:
Amount to be converted:	$
Conversion Price:	$
Number of shares of Common Stock to be issued:
Amount of Debtenure Unconverted:	$

Please issuethesharesofCommonStockinthefollowingname andtothefollowing address:Issueto:

Authorized Signature:

Name:

Title:

Broker DTC ParticipantCode:

Account Number:

16