Document:

c51856_ex10-20.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EX-10.20

REVOLVING CREDIT LOAN PROMISSORY NOTE

	
$5,000,000.00		 		
Effective: December 31, 2007	

          FOR VALUE RECEIVED, VAUGHAN FOODS, INC., an Oklahoma corporation, ALLISON’S GOURMET KITCHENS, LIMITED
PARTNERSHIP, an Oklahoma limited partnership, and WILD ABOUT FOODS – OKLAHOMA, LLC, a Texas limited liability company (hereinafter
collectively referred to as the “Borrower”), jointly and severally, unconditionally promise to pay to the order of INTERNATIONAL BANK OF COMMERCE, a Texas state
banking association (“Lender”), at 3601 N.W. 63rd Street, Oklahoma City, OK 73116, or at such other place as may be designated in writing by the holder of this
promissory note, the principal sum not to exceed FIVE MILLION and 00/100 Dollars ($5,000,000.00), together with interest thereon at the rate hereinafter specified:

          INTEREST RATE. Interest shall accrue on the outstanding principal balance of this loan at the rate of New York Prime Rate minus five eighths
percent (0.625%), adjusted on date of change. Interest on this Note shall be computed on the basis of a 360 day year. The New York Prime rate (New York Prime) means that annual rate of interest as quoted by J.P. Morgan Chase Bank from time to time
or a similar substitute rate determined by the Lender in its sole discretion as most nearly approximating that rate in the case this prime rate is no longer published. Each change in the New York Prime shall become effective without notice (which
notice is hereby waived) on the date of change. 

          ADJUSTMENTS TO INTEREST RATE. The Interest Rate is subject to the following adjustments to be made on a quarterly basis, if applicable.  When
Funded Debt to EBITDA is at the ratio(s) set forth below the Interest Rate will be adjusted for the applicable quarter: 

          (a)      Below 3:1 Interest Rate reduces 1.00% 

          (b)      3:1 to 4.0 Interest Rate reduces
    0.75% 

          (c)      4:1 to 5.0 Interest Rate reduces
    0.625% 

          (d)      Above 5.0 Interest Rate reduces
    0.375% 

          PAYMENT
TERMS.
Beginning January 31, 2008 through March 31, 2010 (the “Maturity
Date”),
Borrower shall  pay Lender monthly payments of interest only. On the Maturity
Date, all accrued interest and unpaid principal shall be due and payable in full.
If at any time the amount of the outstanding principal balance advanced hereunder
exceeds the Borrowing  Base Borrower shall make a principal payment in the amount
of said excess immediately.

          DEFAULT INTEREST: Any sum not paid when due shall bear interest at a rate of five percent (5%) per annum greater than the per annum interest
rate prevailing on this Note at the time the unpaid amount became due for the period of time for which the sum is unpaid. 

          LATE PAYMENT. To the extent allowed by law, as the late payment charge under this Note, Lender may in its sole discretion, require Borrower
to pay a one time “late 

charge” per late payment equal to five percent (5%) of the amount of the unpaid principal and interest of such payment, with a minimum of $10.00 and a maximum of $1,500.00 per late payment. The “late charge”
may be assessed without notice and shall be immediately due and payable.  This provision is inapplicable if the outstanding indebtedness under this Note is accelerated and/or demanded in full. 

          Of even date herewith the Borrower and Lender have entered into a Loan Agreement (“Agreement”). Unless otherwise defined herein all capitalized words and phrases used herein shall have the meaning given in the
Agreement.

          The Lender’s records of advances and repayments will be prima facie evidence of the amount owed by the Borrower to the Lender with respect to this Note, in the absence of manifest error. 

          All payments made upon this Note shall be applied first to the outstanding accrued interest, if any, through the date of payment and the balance, if any, to the principal balance due and owing under this Note.

          Borrower agrees that if, and as often as this Note is placed in the hands of an attorney for collection or to defend or enforce any of the Lender’s rights hereunder or under any instrument securing payment of this
Note, Borrower shall pay the Lender its reasonable attorneys’ fees and all court costs and other expenses incurred in connection therewith. 

          It is expressly understood that time is of the essence of this Note, and if the Borrower shall fail to pay when due, any amount payable under the provisions of this Note or fail to perform any other obligation to the
Lender, or upon the occurrence of an Event of Default under the Agreement such event shall constitute a default hereunder (any of the foregoing being hereinafter referred to as “Default”). Upon Default (i) this Note and all other
liabilities together with all accrued but unpaid interest hereon and thereon, at the option of the Lender, and without notice, demand or presentment, or notice of intent to accelerate to the Borrower or any other person or party, may be declared,
and thereupon immediately shall become, due and payable; and (ii) the Lender may exercise, from time to time, any and all other rights, remedies and recourses now or hereafter existing in equity, at law, herein or any other Loan Document between
Borrower and Lender, by virtue of statute or otherwise, including but not limited to, all rights and remedies available to it under the Uniform Commercial Code as in effect from time to time in the State of Oklahoma and the right to foreclose any
and all liens and security interests securing this Note. 

          The invalidity, or unenforceability in particular circumstances, of any provision of this Note shall not extend beyond such provision or circumstances, and no other provision of this instrument shall be affected thereby.

          Borrower expressly stipulates and agrees that it is the intent of Borrower and Lender at all times to comply with applicable state law or applicable United States federal law (to the extent that it permits Lender to
contract for, charge, take, reserve, or receive a greater amount of interest than under state law) and that this section shall control every other covenant 

-2- 

and agreement in this Note and the other Loan Documents.  If the applicable law (state or federal) is ever judicially interpreted so as to render usurious any amount called for under the Note or under any of the other Loan
Documents, or contracted for, charged, taken, reserved, or received with respect to the Note, or if Lender’s exercise of the option to accelerate the maturity of the Note, or if any prepayment by Borrower results in Borrower having paid any
interest in excess of that permitted by applicable law, then it is Borrower’s and Lender’s express intent that all excess amounts theretofore collected by Lender shall be credited on the principal balance of the Note (or, if the Note has
been or would thereby be paid in full, refunded to Borrower), and the provisions of the Note and the other Loan Documents immediately shall be deemed reformed and the amounts thereafter collectible hereunder and thereunder reduced, without the
necessity of the execution of any new documents, so as to comply with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder or thereunder. All sums paid or agreed to be paid to Lender for the use,
forbearance, or detention of the loan proceeds evidenced by the Note shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term of the Note until payment in full so that the rate
or amount of interest on account of the Note does not exceed the maximum rate permitted under applicable law from time to time in effect and applicable to the Note for so long as the Note is outstanding. Notwithstanding anything to the contrary
contained herein or in any of the other Loan Documents, it is not the intention of Lender to accelerate the maturity of any interest that has not accrued at the time of such acceleration or to collect unearned interest at the time of such
acceleration. 

          Each Borrower hereunder shall be regarded as a principal and each agrees that any party to this Note, with Lender’s approval and without notice to any other party, may from time to time renew this Note or consent to
one or more extensions or deferrals of the Maturity Date for any term(s) or any other modification(s), and each Borrower shall be liable in the same manner as on the original note. 

          This Note, to the extent of the full face amount hereof, evidences indebtedness of Borrower to Lender. This Note is issued by the Borrower as part of a commercial transaction and no part of this loan is for a personal
use.

          Borrower hereby consents to the jurisdiction and/or venue of any state, district court or federal district court within the State of Oklahoma, as Lender may elect with respect to any action involving this Note. 

          BORROWER HEREBY VOLUNTARILY, AND KNOWINGLY, IRREVOCABLY, AND UNCONDITIONALLY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) BETWEEN THE BORROWERS
AND LENDER ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE OR ANY OTHER LOAN DOCUMENT. 

          Borrower stipulates and agrees that the Lender may, in its sole discretion, assign this Note to any such person it may select, upon such terms and conditions as it may deem appropriate, and that such assignee shall
thereafter become the holder of this Note and shall be 

-3- 

entitled to enforce all rights, remedies, and other benefits which shall or may inure to the benefit of the Lender; provided that Lender shall not assign this Note without the consent of Borrower if Borrower is not in
Default and Lender continues to service this Note for Borrower. 

          NOTICE OF NO ORAL AGREEMENT.  THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

          ARBITRATION. Bank and Borrower agree as follows: 

	          	
(a)     	
      Any and all commercial controversies between the parties shall be resolved by arbitration in accordance with the commercial arbitration rules of the American Arbitration Association in effect at the time of filing, unless
    the commercial arbitration rules conflict with this provision and in such event the terms of this provision shall control to the extent of the conflict. 

	 
	 	
(b)     	
      The award of the arbitrators, or a majority of them, shall be final, and judgment upon the award rendered may be entered in any court, state or federal, having jurisdiction. The arbitration award shall be in writing and
    specify the factual and legal basis for the award. Upon the request of any party, the award shall include findings of fact and conclusions of law. 

	 
	 	
(c)     	
      Arbitral disputes include any and all controversies or claims between the parties of whatever type or manner, including without limitation, any claim arising out of or relating to this Note, all past, present and/or future
        credit facilities and/or agreements involving the parties, any transactions between or involving the parties, and/or any aspect of any past or present relationship of the parties, whether banking or otherwise, specifically including any alleged tort
    committed by any party. 

	 
	 	
(d)     	
      The parties shall allow
          and participate in discovery in accordance with the federal rules of
          civil procedure for a period of one hundred twenty (120) days after
          the filing of the original responsive pleading. Discovery may continue
          thereafter as agreed by the parties or as allowed by the arbitrators.
          Unresolved discovery disputes shall be brought to the attention of
          the arbitrators by written motion for proper disposition, including
          ruling on any asserted objections, privileges, and protective order
          requests and awarding reasonable attorney’s fees to the prevailing
    party. 

	 
	 	
(e)     	
      In the event the aggregate
          of all affirmative claims asserted exceed $500,000.00, exclusive of
          interest and attorney’s fees, or upon the written request of any
    party, (1) prior to the dissemination of a list of potential 

	 

-4- 

	           	 	
  arbitrators, the American Arbitration
      Association shall conduct an in person administrative conference with the
      parties and their attorneys for the following purposes and for such additional
      purposes as the parties or the American Arbitration Association may deem
      appropriate, (a) to obtain additional information about the nature and
      magnitude of the dispute and the anticipated length of hearings and scheduling;
      (b) to discuss the view of the parties about any technical and/or other
      special qualifications of the arbitrators; and (c) to consider, whether
      mediation or other methods of dispute resolution might be appropriate,
      and (2) as promptly as practicable after the selection of the arbitrators,
      a preliminary hearing shall be held among the parties, their attorneys
      and the arbitrators. With the agreement of the arbitrators and the parties,
      the preliminary hearing may be conducted by telephone conference call rather
      than in person. At the preliminary hearing the matters that may be considered
      shall include, without limitation, a pre-hearing scheduling order addressing
      (a) each party’s duty to submit a detailed statement of claims, damages
      and/or defenses, a statement of the issues asserted by each party and any
      legal authorities the parties may wish to bring to the attention of the
      arbitrators; (b) responses and/or replies to the pleadings filed in compliance
      with subpart 2(a); (c) stipulations regarding any uncontested facts; (d)
      exchange and pre-marking of all documents which each party believes may
      be offered at the final arbitration hearing; (e) the identification and
      availability of witnesses, including experts, and such additional matters
      regarding witnesses including their biographies and a short summary of
      their expected testimony, (f) whether a stenographic or other official
      record of the proceedings shall be maintained; and (g) the possibility
      of utilizing mediation or other alternative methods of dispute resolution. 

	 
	 	
(f)     	
      For purposes of this provision, “the parties” mean Borrower and Lender, and each and all persons and entities signing this agreement or any other agreements between or among any of the parties as part of this
        transaction; “the parties” shall also include individual partners,
        affiliates, officers, directors, employees, agents and/or representatives
        of any party to such documents, and shall include any other owner and
    holder of this agreement. 

	 
	 	
(g)     	
      The parties shall have the
          right to invoke self- help remedies (such as set- off, notification
          of account debtors, seizure and/or foreclosure of collateral, and non-judicial
          sale of personal property and real property collateral) before, during
          or after any arbitration and/or request ancillary or provisional judicial
          remedies (such as garnishment, attachment, specific performance, receiver,
          injunction or restraining order, and sequestration) before or after
          any arbitration. The parties need not await the outcome of the arbitration
          before using self-help remedies. Use of self-help or ancillary and/or
          provisional judicial remedies shall not operate as a waiver of either
          party’s right to compel
    arbitration. Any ancillary or provisional 

	 

-5- 

	          	 	
remedy which would be available from a court at law shall be available from the arbitrators.	
	 
	 	
(h)     	
      The parties agree that any action regarding any controversy between the parties shall either be brought by arbitration, as described herein, or by judicial proceedings, but shall not be pursued simultaneously in different
        or alternative forms. A timely written notice of intent to arbitrate pursuant to this agreement stays and/or abates any and all action in a trial court, save and except a hearing on a motion to compel arbitration and/or the
        entry of an order compelling arbitration and staying and/or abating the
        litigation pending the filing of the final award of the arbitrators.
        All reasonable and necessary attorney’s
          fees and all travel costs shall be awarded to the prevailing party
        on any motion to compel arbitration and must be paid to such party within
    ten (10) days of the signing of the order compelling arbitration. 

	 
	 	
(i)     	
      Any party seeking to arbitrate
          shall serve a written notice of intent to arbitrate to any and all
          opposing parties within 360 days after dispute has arisen. A dispute
          is defined to have arisen only upon receipt of service of judicial
          process, including service of a counterclaim, failure to serve a written
          notice of intent to arbitrate within the time specified above shall
          be deemed a waiver of the aggrieved party’s right to compel arbitration
          of such claim. The issue of waiver pursuant to this agreement is an
    arbitral dispute. 

	 
	 	
(j)     	
      Active participation in pending litigation during the 360 day notice period, whether as plaintiff or defendant, is not a waiver of the right to compel arbitration. All discovery obtained in the pending litigation may be
    used in any subsequent arbitration proceeding. 

	 
	 	
(k)     	
      The parties further agree that (i) no arbitration proceeding hereunder shall be certified as a class action or proceed as a class action, or on a basis involving claims brought in a purported representative capacity on
    behalf of the general public, other customers or potential customers or persons similarly situated and (ii) no arbitration proceeding hereunder shall be consolidated with, or joined in any way with, any other arbitration proceeding. 

	 
	 	
(l)     	
      Any arbitrator selected
          shall be knowledgeable in the subject matter of the dispute. Each of
          the parties shall pay an equal share of the arbitration costs, fees,
          expenses, and of the arbitrators’ fees, costs and
    expenses. 

	 
	 	
(m)     	
      All statutes of limitations which would otherwise be applicable shall apply to any and all claims asserted in any arbitration proceeding hereunder and the commencement of any arbitration proceeding tolls such statutes of
    limitations. 

	 

-6- 

	           	
(n)     	
      In any arbitration proceeding
          subject to this provision, the arbitrators, or majority of them, are
          specifically empowered to decide (by documents only, or with a hearing,
          at the arbitrators’ sole discretion)
        pre-hearing motions which are substantially similar to pre-hearing motions
    to dismiss and motions for summary adjudication. 

	 
	 	
(o)     	
      This arbitration provision shall survive any termination, amendment, or expiration of the agreement in which this provision is contained, unless all of the parties otherwise expressly agree in writing. 

	 
	 	
(p)     	
      The parties acknowledge that this agreement evidences a transaction involving interstate commerce. The federal arbitration act shall govern the interpretation, enforcement, and proceedings pursuant to the arbitration clause
    of this agreement. 

	 
	 	
(q)     	
      The arbitrators, or a majority
          of them, shall award attorney’s fees and costs to the prevailing
    party pursuant to the terms of this agreement. 

	 
	 	
(r)     	
      Neither the parties nor the arbitrators may disclose the existence, content, or results of any arbitration hereunder. 

	 
	 	
(s)     	
Venue of any arbitration proceeding hereunder shall be in Oklahoma County, Oklahoma.	
	 

          IN
WITNESS WHEREOF, Borrower has executed this instrument this 31st day of December,
2007, and made effective as of the date first above appearing. 

	 	 		
“BORROWER”	
	 	
	 	 		
VAUGHAN FOODS, INC., an Oklahoma	
	 	 		
corporation	
	 	
	 	
	 	
	 	
By:		/s/
	    Gene P. Jones
	 	 		
GENE P. JONES, Secretary, Treasurer, and	
	 	 		
Chief Financial Officer	

-7- 

	 	 		
ALLISON’S GOURMET KITCHENS,	
	 	 		
LIMITED PARTNERSHIP	
	 	
	 	
By:		
VAUGHAN FOODS, INC., its General	
	 	 		
Partner	
	 	
	 	
	 	
	 	
By:		/s/
	    Gene P. Jones 
	 	 		
GENE P. JONES, Secretary, Treasurer, and	
	 	 		
Chief Financial Officer	
	 	
	 	 		
WILD ABOUT FOODS – OKLAHOMA,	
	 	 	LLC,
    a Texas limited liability company 
	 	
	 	
	 	
	 	
By:		/s/ Gene
    P. Jones 
	 	 		GENE
    P. JONES, Manager 	           

-8-EMPLOYMENT AGREEMENT

                     

                    
                    THIS EMPLOYMENT AGREEMENT
                    (“Agreement”) made this
                    1st day of January 2007 by
                    and between Media Depot, a Nevada corporation with offices at 12 North
                    Washington Street, Montoursville, PA 17754 (the
                    “Company” or
                    “Party”) and
                    Matthew J. Hoff of Montoursville, PA
                    (“Employee” or
                    “Party”).
                    Company and
                    Employee collectively referred to
                    herein as Parties.

                     

                    
                    WHEREAS,
                    Employee and
                    Company desire to memorialize their
                    understandings with respect to the employment of
                    Employee.

                     

                    
                    NOW THEREFORE, IN VIEW OF THE FOREGOING; AND IN FURTHER
                    CONSIDERATION OF THE MUTUAL PROMISES HEREINAFTER SET FORTH, THE PARTIES HERETO
                    DO HEREBY AGREE AS FOLLOWS:

                     

                    
                        	
                                    
                                    Article 1.

                                	
                                    
                                    EMPLOYMENT
                                    .

                                

                    

                    
                    Company agrees to employ
                    Employee and
                    Employee agrees to serve
                    Company, during the term of
                    employment described in Article 2 which may be extended pursuant to the terms
                    described therein.

                     

                    
                        	
                                    
                                    Article 2.

                                	
                                    
                                    TERM.

                                

                    

                    
                    This Agreement shall continue for a period of three (3) years
                    (“Term”) from the date of this Agreement and shall be automatically
                    renewed and extended, unless on or before 90 days prior to the conclusion of
                    the Term or any extended term, Company
                    or Employee
                    gives written notice to the other of intention not to extend the
                    Term, which will otherwise be automatically extended for further periods of one
                    (1) year each. Company shall
                    endeavor to provide notification to
                    Employee that the Term has been so
                    extended, but the failure to provide such notice shall not limit the rights of
                    the parties under this section.

                     

                    
                        	
                                    
                                    Article 3.

                                	
                                    
                                    DUTIES,
                                    POSITION AND
                                    DEFINITIONS.

                                

                    

                     

                    
                    FULL TIME.
                    Employee shall devote his/her full
                    business time and best efforts to the business and affairs of
                    Company and shall not be otherwise
                    gainfully employed, except that Employee
                    may have other business investments and participate in other
                    business ventures which may, from time to time, require minor portions
                    of Employee’s time,
                    but which shall not interfere or be inconsistent with
                    Employee’s duties hereunder
                    and except that Employee may
                    devote a reasonable amount of time to attending to investments and the
                    like.

                    
                     

                    
                    POSITION.
                    Employee shall serve as
                    Company's Business
                    Manager.

                    
                     

                    
                    DUTIES - GENERAL
                    DESCRIPTION.
                    Employee has extensive experience
                    as a manager in the Company's
                    industry. Based upon this experience,
                    Employee shall perform various
                    services for the Company as
                    are customary in the industry and as directed from time to time by
                    Company’s Board of Directors,
                    and as set forth in Exhibit
                    “1”.

                    
                     

                    
                    LOCATION.
                    Employee shall be based in
                    Pennsylvania.

                    
                     

                    
                    TERRITORY.
                    Employee’s geographic area of
                    responsibilities shall be as determined by
                    Company’s
                    business.

                     

                    
                        	
                                    
                                    Article 4.

                                	
                                    
                                    COMPENSATION
                                    .

                                

                    

                     

                    
                    1

                    
                    © C. Giannetto, Esq. 2001

                    

                    

                    
                    

                    

                     

                     

                    
                    During the Term hereof,
                    Company shall pay to
                    Employee on a bi-weekly basis or
                    per the regular pay period of Company
                    an annual salary of:

                    
                        	
                                    
                                     

                                	
                                    
                                    Year 1: Seventy Two Thousand Dollars
                                    ($72,000.00) USD

                                

                    

                    
                        	
                                    
                                     

                                	
                                    
                                    Year 2: Seventy Eight Thousand Dollars
                                    ($78,000.00) USD

                                

                    

                    
                        	
                                    
                                     

                                	
                                    
                                    Year 3: Eighty Five Thousand Dollars
                                    ($85,000.00) USD

                                

                    

                    
                        	
                                    
                                     

                                	
                                    
                                    Year 4 and thereafter: Negotiated

                                

                    

                    
                    Performance bonuses may be paid from time to time based upon
                    agreed objectives.

                     

                    
                        	
                                    
                                    Article 4a.

                                	
                                    
                                    SEVERANCE.

                                

                    

                    
                    In the event the Company is acquired by another person or
                    entity, merged or liquidated, after the merger with Calypso Financial Services,
                    whereby the current management and/or shareholders of the Company are no longer
                    in control, the Company agrees to immediately pay to Employee the sum of
                    $500,000.          

                     

                    
                        	
                                    
                                    Article 5.

                                	
                                    
                                    REIMBURSEMENT
                                    OFEXPENSES
                                    .

                                

                    

                    
                    Employee is authorized to incur
                    reasonable expenses for promoting the business of
                    Company, limited to travel,
                    entertainment and like expenses. All expenses shall be itemized on a
                    standard Company form along
                    with proof of the expenses furnished to
                    Company's Treasurer/CFO/COO
                    and Employee shall upon such
                    itemization, proof and approval by
                    Employee's Treasurer/CFO/COO, be
                    reimbursed by the Company
                    within two (2) weeks after submittal by
                    Employee.

                     

                    
                        	
                                    
                                    Article 6.

                                	
                                    
                                    VACATIONS.

                                

                    

                    
                    Employee shall be entitled each
                    year to a paid vacation of not in excess of four ( 4 ) weeks. Any past vacation
                    accruals not used during the calendar year earned shall be
                    forfeited.

                     

                    
                        	
                                    
                                    Article 7.

                                	
                                    
                                    BENEFITS.

                                

                    

                    
                    Employee shall be entitled to the
                    benefits listed on the Article
                    20, Schedule of
                    Benefits herein and to such other fringe benefits
                    as Company may generally
                    extend to executive employees of
                    Company, including health and
                    hospitalization for Employee and his
                    family. Employee’s
                    health and hospitalization insurance will be provided by
                    Blue Cross and Blue Shield.

                     

                    
                        	
                                    
                                    Article 8.

                                	
                                    
                                    BONUS.

                                

                    

                    
                    Employee shall be paid an annual
                    Bonus, as approved by the Company's
                    Board of Directors as set forth herein in
                    Article 21,
                    Incentive
                    Programs.

                     

                    
                        	
                                    
                                    Article 9.

                                	
                                    
                                    TERMINATION
                                    .

                                

                    

                    
                    Except as set forth below,
                    Employee's employment hereunder may
                    only be terminated by Company
                    for just cause. Just cause shall include
                    Employee's unexplained absence for
                    a period of five (5) days excluding absence resulting from injury or
                    illness; Employee's failure
                    to diligently perform the duties described herein and other responsibilities
                    from time to time assigned by Company
                    to Employee
                    within the scope of his work; any breach by
                    Employee under the terms of this
                    Agreement that is not cured within fourteen (14) days after notice; any act
                    by Employee of dishonesty,
                    disloyalty or bad faith or any material action or series of actions which are
                    contrary to the interest of the
                    Company, that is not cured within
                    fourteen (14) days after notice. Company
                    may terminate this Agreement (and be relieved of all further
                    liability hereunder) at any time after
                    Employee shall be absent from his
                    employment, without explanation, for a continuous period of more than ten days
                    (10) or for a non-continuous period of thirty (30) days during any three (3)
                    year period during the Term, excluding that created by injury or
                    illness.

                     

                    
                        	
                                    
                                    Article 10.

                                	
                                    
                                    WARRANTY,
                                    REPRESENTATION AND
                                    INDEMNIFICATION.

                                

                    

                    
                    Employee represents he is not
                    presently a party to any prior agreement or understanding with a former
                    employer or with any other person or business or any other legal restriction or
                    obligation which would in any manner prohibit, impede, or hinder
                    Employee’s employment with or
                    performance of Employee’s
                    duties in the course of employment by
                    Company.
                    Employee agrees that if the
                    Company becomes party to any legal
                    action resulting from a breach of this provision,
                    Employee shall indemnify the
                    Company for any and all costs of
                    defending such action, including attorneys’ fees.

                     

                    
                    2

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                     

                    
                        	
                                    
                                    Article 11.

                                	
                                    
                                    CONFIDENTIAL
                                    INFORMATION.

                                

                    

                    
                    Employee agrees
                    Media Depot’s products,
                    services, production techniques, product and service development, operating
                    procedures, pricing structure, customer requirements, customer lists,
                    “know-how”, “show-how”, marketing, and certain other
                    information (collectively “Company
                    Confidential Information”) are proprietary and
                    confidential and are the property of
                    Company.
                    Employee further agrees that in
                    order to enable Company to
                    perform services for its customers, such customers may furnish to
                    Company, confidential information
                    concerning their business,
                    property, methods of operation, or other data (“Customer
                    Confidential Information”). Employee
                    agrees the goodwill of
                    Company depends upon, among other
                    things, the Company,
                    Employee and its other employees
                    protecting such Confidential Information.
                    Company and Customer Confidential
                    Information collectively referred to in this Agreement as “Confidential
                    Information”.

                     

                    
                        	
                                    
                                    Article 12.

                                	
                                    
                                    NON-DISCLOSURE
                                    .

                                

                    

                    
                    Employee agrees, except as directed
                    by Company,
                    Employee will not at any time,
                    whether during or after his employment with
                    Company, disclose to any party or
                    person or use any Confidential Information, or permit any person to examine
                    and/or make copies of any documents which contain or are derived from
                    Confidential Information, whether prepared by
                    Employee or otherwise coming
                    into Employee's possession
                    or control, without the prior written permission of
                    Company; unless such Confidential
                    Information comes into the public domain through no action of
                    Employee.

                     

                    
                        	
                                    
                                    Article 13.

                                	
                                    
                                    POSSESSION
                                    .

                                

                    

                    
                    Employee agrees that upon request
                    by Company, and in any event
                    upon termination of employment, Employee
                    shall turn over to Company
                    any and all documents, papers or other material in his
                    possession (in any format) or under
                    Employee’s control which may
                    contain or be derived from Confidential Information, together with all
                    documents, notes or other work product (in any format) which is connected with
                    or derived therefrom in Employee's
                    possession. Employee
                    agrees s/he shall have no proprietary interest in any work
                    product, inventions, patents, or property, developed or used by
                    Employee and/or arising out of
                    his/her employment by
                    Company.
                    Employee shall, from time to time,
                    as may be requested by
                    Company, do all things which may be
                    necessary or appropriate to establish or document
                    Company's ownership of any such
                    work product, property, patents, and inventions, including, but not limited to,
                    execution of appropriate assignments.

                     

                    
                        	
                                    
                                    Article 14.

                                	
                                    
                                    ENFORCEABLILITY
                                    .

                                

                    

                    
                    The provisions of the Agreement shall be enforceable
                    notwithstanding the existence of any claim or cause of action of
                    Employee against the
                    Company whether predicated on this
                    Agreement or otherwise.

                     

                    
                        	
                                    
                                    Article 15.

                                	
                                    
                                    WAIVER.

                                

                    

                    
                    The failure of either party to require the performance of any
                    term or condition of this Agreement, or the waiver by either party of any
                    breach of the Agreement shall not prevent a subsequent enforcement of any such
                    term or any other term nor be deemed to be a waiver of any subsequent
                    enforcement.

                     

                    
                        	
                                    
                                    Article 16.

                                	
                                    
                                    ASSIGNMENT
                                    .

                                

                    

                    
                    Employee recognizes the
                    Company is contracting for his/her
                    personal services and therefore Employee
                    shall not assign any of his duties, and any attempted or
                    purported assignment shall be null and void. Notwithstanding the
                    foregoing Employee may
                    delegate certain of his responsibilities to subordinates employed by the
                    Company, provided
                    Employee shall have overall
                    responsibility for the performance of such subordinates.

                     

                    
                        	
                                    
                                    Article 17.

                                	
                                    
                                    GOVERNING
                                    LAW.

                                

                    

                    
                    The Agreement shall be governed by and construed in accordance
                    with, the laws of the State of Pennsylvania and the parties agree to be
                    personally bound by the decisions, rulings and/or judgments issued by the
                    courts of the State of Pennsylvania.

                     

                    
                    3

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                    
                        	
                                    
                                    Article 18.

                                	
                                    
                                    ENTIRE AGREEMENT and
                                    NOTICES.

                                

                    

                    
                    This Agreement contains the entire agreement of the parties
                    relating to the subject matter hereof. This Agreement may be modified only by
                    an instrument in writing signed by both Parties. Any notice to be given under
                    this Agreement shall be sufficient if it is in writing and is sent by certified
                    mail to Employee at his/her
                    residence address as the same appears on the books and records of the
                    Company or to the
                    Company at its principal office,
                    attention of the Board of Directors, or otherwise as directed by the
                    Company, from time to time. The
                    provisions of this Agreement relating to confidentiality, non-disclosure,
                    non-competition and non-solicitation contained in Articles 13, 14, 15, 16, 17,
                    18, 19 and 20 shall survive the termination of employment unless such
                    termination is caused by the Company
                    without just cause.

                     

                    
                        	
                                    
                                    Article 19.

                                	
                                    
                                    ARBITRATION
                                    .

                                

                    

                    
                    Any disputes under this Agreement shall be settled by
                    arbitration before the American Arbitration Association in Harrisburg,
                    Pennsylvania, in accordance with the Commercial Rules then existing. Any
                    judgment and/or award issued by such American Arbitration Association shall be
                    binding upon the parties hereto and may be entered in any court of competent
                    jurisdiction.

                     

                     

                     

                     

                    
                        	
                                    
                                    Article 20.

                                	
                                    
                                    SCHEDULE OF
                                    BENEFITS.

                                

                    

                     

                    
                    Group Health Insurance provided by Blue Cross and Blue Shield
                    for Employee and immediate family.
                    - Paid by the
                    Company

                    
                     

                    
                    401 K Plan when established (with employer and/or employer
                    contributions per company policy)

                    
                     

                    
                        	
                                    
                                    Article 21.

                                	
                                    
                                    INCENTIVE
                                    PROGRAMS.

                                

                    

                    
                    In addition to the compensation of
                    Employee in
                    Article 4,
                    Company shall pay
                    Employee a bonus in accordance with
                    the following:

                     

                    
                        	
                                    
                                    Article 22.

                                	
                                    
                                    BUSINESS PLAN and PRO
                                    FORMAS.

                                

                    

                    
                    Attached hereto and made as part hereof as
                    Exhibit 2 are a 3 Year Business
                    Plan and Pro Formas for
                    Company. In order for
                    Employee to be eligible for
                    the Incentive
                    Program in
                    Article 25 above,
                    Company must meet the Pro Forma
                    results set forth is said Exhibit, plus or minus ten (10%) percent.

                     

                    
                        	
                                    
                                    Article 23.

                                	
                                    
                                    SUPERCEDURE
                                    .

                                

                    

                    
                    This Agreement shall supercede any and all prior agreements
                    between Employee and
                    Company. Further, in the event of a
                    conflict between this Agreement and the current Company – Employee
                    Handbook now in effect, this Agreement shall control.

                     

                    
                    IN WITNESS WHEREOF, the undersigned
                    have hereunto set their hands as of the date first above written.

                     

                    
                        	
                                    
                                     

                                	
                                    
                                    COMPANY:
                                    Media Depot

                                

                    

                     

                    
                        	
                                    
                                     

                                	
                                    
                                    By:
                                    _______________________________________________________

                                

                    

                     

                     

                    
                    4

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                    
                        	
                                    
                                     

                                	
                                    
                                    Its:
                                    _______________________________________________________

                                

                    

                     

                     

                    
                        	
                                    
                                     

                                	
                                    
                                    EMPLOYEE:

                                

                    

                     

                     

                    
                    ___________________________________________________________

                     

                     

                    
                    5

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                    
                    EXHIBIT 1

                     

                    
                    Media Depot
                     

                     

                    
                    Job Description

                     

                    
                        	
                                    
                                    Job Title:

                                	
                                    
                                    Business Manager

                                

                    

                    
                        	
                                    
                                    Department:

                                

                    

                    
                        	
                                    
                                    Reports To:

                                

                    

                    
                        	
                                    
                                    FLSA Status:

                                

                    

                    
                        	
                                    
                                    Prepared By:

                                

                    

                    
                        	
                                    
                                    Prepared Date:

                                

                    

                    
                        	
                                    
                                    Approved By:

                                

                    

                    
                        	
                                    
                                    Approved Date:

                                

                    

                     

                    
                    Summary: Manages and directs the
                    organization toward its primary objectives, based on profit and return on
                    capital, by performing the following duties personally or through subordinate
                    managers.

                     

                    
                    Essential Duties and Responsibilities:
                    include the following. Other duties may be assigned.

                     

                    
                    Plans, coordinates, and controls the daily operation of the
                    organization through the organization's managers.

                    
                    Establishes current and long-range goals, objectives, plans and
                    policies, subject to approval by the Board of Directors.

                     

                    
                    Dispenses advice, guidance, direction, and authorization to
                    carry out major plans, standards and procedures, consistent with established
                    policies and Board approval.

                     

                    
                    Meets with organization's other executives to ensure that
                    operations are being executed in accordance with the organization's
                    policies.

                     

                    
                    Oversees the adequacy and soundness of the organization's
                    financial structure.

                     

                    
                    Reviews operating results of the organization, compares them to
                    established objectives, and takes steps to ensure that appropriate measures are
                    taken to correct unsatisfactory results.

                     

                    
                    Plans and directs all investigations and negotiations pertaining
                    to mergers, joint ventures, the acquisition of businesses, or the sale of major
                    assets with approval of the Board of Directors.

                     

                    
                    Establishes and maintains an effective system of communications
                    throughout the organization.

                     

                    
                    Represents the organization with major customers, shareholders,
                    the financial community, and the public.

                     

                     

                     

                    
                    Supervisory Responsibilities:

                     

                    
                    Directly supervises sales
                    staff. Carries out supervisory responsibilities in
                    accordance with the organization's policies and applicable laws.
                    Responsibilities include interviewing, hiring, and training employees;
                    planning, assigning, and directing work; appraising performance; rewarding and
                    disciplining employees; addressing complaints and resolving
                    problems.

                     

                     

                    
                    6

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                     

                    
                    Qualifications: To perform this job
                    successfully, an individual must be able to perform each essential duty
                    satisfactorily. The requirements listed below are representative of the
                    knowledge, skill, and/or ability required. Reasonable accommodations may be
                    made to enable individuals with disabilities to perform the essential
                    functions.

                     

                    
                    Education and/or Experience:

                     

                    
                    Four to 10 years related experience and/or training; or
                    equivalent combination of education and experience.

                     

                    
                    Language Skills:

                     

                    
                    Ability to read, analyze and interpret general business
                    periodicals, professional journals, technical procedures, or governmental
                    regulations. Ability to write reports, business correspondence, and procedure
                    manuals. Ability to effectively present information and respond to questions
                    from groups of managers, clients, customers, and the general public.

                     

                    
                    Mathematical Skills:

                     

                    
                    Ability to work with mathematical concepts such as probability
                    and statistical inference, and fundamentals of plane and solid geometry and
                    trigonometry. Ability to apply concepts such as fractions, percentages, ratios,
                    and proportions to practical situations.

                     

                    
                    Reasoning Ability:

                     

                    
                    Ability to define problems, collect data, establish facts, and
                    draw valid conclusions. Ability to interpret an extensive variety of technical
                    instructions in mathematical or diagram form and deal with several abstract and
                    concrete variables.

                     

                     

                     

                    
                    7

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

                                

                    

                    

                    

                    
                    

                    

                     

                     

                    
                    EXHIBIT 2

                     

                    
                    3 YEAR BUSINESS PLAN and PRO FORMAS

                     

                    
                    TO BE DETERMINED.

                     

                     

                    
                    8

                     

                    
                        	
                                    
                                    Initials: __________

                                	
                                    
                                    Initials: __________

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