Common use of The Pequot Preferred Stock; Accumulated Dividends and Liquidated Damages Clause in Contracts

The Pequot Preferred Stock; Accumulated Dividends and Liquidated Damages. Pequot and the Pequot Funds hereby agree that as of the Effective Time all 14,171,054 outstanding shares of Preferred Stock held by the Pequot Funds shall be surrendered to ADRM and from and after the Effective Time such shares of Preferred Stock shall no longer be deemed to be outstanding. The Preferred Holders and ADRM further agree that any and all amendments to the Preferred Series Designations necessary to effectuate the action contemplated in the previous sentence are hereby made. The parties hereto further agree that as of the Effective Time (i) accumulated dividends payable on the Preferred Stock held by the Pequot Funds as of June 30, 2008 in the amount of $690,436 and (ii) liquidated damages in the amount of $387,000 payable to the Pequot Funds by ADRM pursuant to Section 1.1 of the Preferred Registration Agreement, shall each be forfeited and shall no longer be due and payable.