Document:

pressrel.htm

Exhibit 10.2

Premier Alliance to Acquire Ecological, LLC

Adds to Premier Alliance’s portfolio of offerings;

Joseph J. Grano, Jr., named Chairman of the Board of Directors

Charlotte, NC – November 15, 2012 -- Premier Alliance Group, Inc. (OTC QB: PIMO) (“Premier Alliance” or “the Company”), today announced that it has reached a definitive agreement to acquire Ecological, LLC, a New York-based environmental sustainability company, in a cash and stock transaction.

The acquisition enables Premier Alliance, which offers clients strategic advisory, services, and solutions, to strengthen and expand their footprint within the energy and sustainability industry.  Brian King, CEO and President of Ecological, will join Premier as a member of its senior management team.

In addition, the Company announced that Joseph J. Grano, Jr., Chairman and Co-founder of Ecological, will become non-executive Chairman of the Board of Directors at Premier Alliance.  Mr. Grano, Chairman and Chief Executive Officer of Centurion Holdings, was previously the Chairman and Chief Executive Officer of UBS Financial Services (formerly UBS PaineWebber). Mr. Grano is a former Chairman of the NASD Board of Governors; member of the NASD’s Executive Committee; and was appointed in 2002 by President George W. Bush to serve as Chairman of the Homeland Security Advisory Council. He began his Wall Street career with Merrill Lynch after serving in Viet Nam as a member of the U. S. Special Forces (Green Berets).

“The acquisition of Ecological expands our offerings within our energy and sustainability solutions division,” stated Mark Elliott, Chief Executive Officer of Premier Alliance.  “New federal regulations, which take effect in 2013, mandate that many commercial buildings undertake energy benchmarking and audits.  Ecological is a leader in this area.”

“The acquisition of Ecological by Premier Alliance is a natural fit and a smart strategic alliance for both companies,” stated Mr. Grano.  “During our due diligence we were impressed by the strength of Premier Alliance’s offerings, its strong management team and outstanding Board of Directors (http://premieralliance.com/about/our-people), many of whom I have watched and admired throughout my career.  I look forward to building on the foundation Premier Alliance has established since its founding.”

About Premier Alliance Group, Inc.

Premier Alliance Group, Inc. (OTCQB: PIMO) provides Knowledge Based Expertise (“KBE”) through its strategic advisory, services, and solutions delivery capabilities.  The firm provides 360° Intelligence Delivery - a holistic approach to meet client objectives - through our Professional Services and Solutions Groups. Our focus is in the following industries today; Energy, Financial Services, Life Science and Biotechnology, Government, and Technology.  We currently have two major delivery verticals of Finance and Energy capabilities driven by increased financial regulations and energy mandates crossing many industries.  Our financial service deliveries encompass Governance, Risk & Compliance (GRC), Business Performance & Technology, and Finance & Accounting as we assist clients with Risk Management, Compliance, Mergers & Acquisitions, Organizational Effectiveness, Project Management, and Information Management. Our Energy capabilities position us as a leading provider of energy efficiency and sustainable facilities solutions. This includes the design, engineer and install of disparate solutions and technologies that enable clients to reduce their energy costs and carbon footprint. Premier Alliance is headquartered in Charlotte, NC. For more information, visit www.premieralliance.com.

  

  

  

Safe Harbor Statement

Certain information contained in this press release may be forward-looking. Actual results might differ materially from any forward-looking statements contained in this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of Premier Alliance Group to be materially different from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking.

Investor Contact:

Alliance Advisors, LLC

Alan Sheinwald, Founder

ASheinwald@AllianceAdvisors.net

914-669-0222

Valter Pinto, Vice President

Valter@AllianceAdvisors.net

914-669-0222 x201

www.AllianceAdvisors.netExhibit 10.45

EXHIBIT 10.45

DEFERRAL AGREEMENT
John Madison Thomas, III

TVA's President and Chief Executive Officer has approved your participation in TVA's Long-Term Deferred Compensation Plan (Plan) under the following terms:

	
		
	Duration of deferral agreement
	Twelve months

	First and only compensation credit
	$50,000 (01/01/2012)

	Total credits over service period
	$50,000

	Expiration date
	12/31/2012

Please read the following provisions carefully and indicate your approval by signing at the designated place below.
___________________________________________________________________________________________
As a participant in the Plan, I hereby agree to be bound by the following terms and conditions:

A deferred compensation credit in the amount of $50,000 will be made to an account in my name to cover a service period beginning January 1, 2012 and ending December 31, 2012.  Upon the expiration of this agreement, the entire amount credited to my account under this agreement, including interest or return as provided below, will be paid to me in a lump sum unless I elect below to have the balance of my Long-Term Deferred Compensation Plan (LTDCP) account transferred to my TVA deferred compensation account.

I understand that I must remain employed by TVA through the expiration of this agreement, or no payments or transfers under the Plan will be made by TVA, and any credits to my account will be extinguished.  However, in the event that TVA terminates my employment during the term of this agreement through no act or delinquency of my own, this agreement is terminated as of the date of my termination and no further credits will be made under it and any credits in my account from this agreement, including interest or return as provided below, at the time of termination will become vested.  If I elect below to have the balance of my LTDCP account transferred to my TVA deferred compensation account, all credits from this agreement will be paid out to me in accordance with my deferral election applicable to such credits or in accordance with otherwise applicable IRS rules.  If TVA terminates my employment for cause prior to the expiration of this agreement, no payments will be made and my account balance will be extinguished.  In the event of my death during the term of this agreement, my account balance will be paid to the person identified on my beneficiary designation form or, in the absence of such designation, to my estate, in a manner permitted by applicable IRS rules.

Interest will be credited to the balance reflected in my LTDCP account on the same basis as interest is calculated and credited under the TVA Deferred Compensation Plan.  In the alternative, I may choose to have the balance of my LTDCP account adjusted based on the return of the funds I select under the same conditions as are contained in TVA's Deferred Compensation Plan.  I understand that I am solely responsible for the risk associated with any return elections that I make.

The Plan may be amended or discontinued by the Board.  If the Board elects to discontinue the Plan, any credits to my account as of the date of termination of the Plan will be paid to me in accordance with applicable IRS rules.  I elect the following option for payment upon expiration of this agreement:  

__X__    Balance of account to be paid to me in a lump sum 

______   Balance of account to be transferred to my TVA Deferred Compensation Plan account

I understand that nothing contained in this agreement shall be construed as conferring the right to continue in the employment of TVA as an executive or in any other capacity and that the payment election I have made is final (not revocable).  

/s/ John M. Thomas, III_____________________        1/04/12___________
John Madison Thomas, III                    DateExhibit 10.48

EXHIBIT 10.48

DEFERRAL AGREEMENT
Kimberly S. Greene

TVA's President and Chief Executive Officer has approved your participation in TVA's Long-Term Deferred Compensation Plan (Plan) under the following terms:

	
		
	Duration of deferral agreement
	Twelve months

	First and only compensation credit
	$100,000 (01/01/2012)

	Total credits over service period
	$100,000

	Expiration date
	12/31/2012

Please read the following provisions carefully and indicate your approval by signing at the designated place below.
___________________________________________________________________________________________
As a participant in the Plan, I hereby agree to be bound by the following terms and conditions:

A deferred compensation credit in the amount of $100,000 will be made to an account in my name to cover a service period beginning January 1, 2012 and ending December 31, 2012.  Upon the expiration of this agreement, the entire amount credited to my account under this agreement, including interest or return as provided below, will be paid to me in a lump sum unless I elect below to have the balance of my Long-Term Deferred Compensation Plan (LTDCP) account transferred to my TVA deferred compensation account.

I understand that I must remain employed by TVA through the expiration of this agreement, or no payments or transfers under the Plan will be made by TVA, and any credits to my account will be extinguished.  However, in the event that TVA terminates my employment during the term of this agreement through no act or delinquency of my own, this agreement is terminated as of the date of my termination and no further credits will be made under it and any credits in my account from this agreement, including interest or return as provided below, at the time of termination will become vested.  If I elect below to have the balance of my LTDCP account transferred to my TVA deferred compensation account, all credits from this agreement will be paid out to me in accordance with my deferral election applicable to such credits or in accordance with otherwise applicable IRS rules.  If TVA terminates my employment for cause prior to the expiration of this agreement, no payments will be made and my account balance will be extinguished.  In the event of my death during the term of this agreement, my account balance will be paid to the person identified on my beneficiary designation form or, in the absence of such designation, to my estate, in a manner permitted by applicable IRS rules.

Interest will be credited to the balance reflected in my LTDCP account on the same basis as interest is calculated and credited under the TVA Deferred Compensation Plan.  In the alternative, I may choose to have the balance of my LTDCP account adjusted based on the return of the funds I select under the same conditions as are contained in TVA's Deferred Compensation Plan.  I understand that I am solely responsible for the risk associated with any return elections that I make.

The Plan may be amended or discontinued by the Board.  If the Board elects to discontinue the Plan, any credits to my account as of the date of termination of the Plan will be paid to me in accordance with applicable IRS rules.  I elect the following option for payment upon expiration of this agreement:  

___X__   Balance of account to be paid to me in a lump sum 

______   Balance of account to be transferred to my TVA Deferred Compensation Plan account

I understand that nothing contained in this agreement shall be construed as conferring the right to continue in the employment of TVA as an executive or in any other capacity and that the payment election I have made is final (not revocable).  

/s/ Kim S. Greene__________________________        12/22/11__________
Kimberly S. Greene                    Date

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