Document:

EX-10.10 Termination Agreement

Exhibit 10.10

TERMINATION AGREEMENT

     This TERMINATION AGREEMENT (the “Termination Agreement”) is effective as of June 23, 2008 (the
“Effective Date”), by and among Mikhail Kvitnitsky (“Kvitnitsky”) and Accelerated Innovation, LLC,
a California limited liability company (the “Company”), with reference to the following facts:

     A. Kvitnitsky entered into an Employment Agreement effective as of January 31, 2005 (as
amended, the “Employment Agreement”) with Accin Corporation (“Accin”), under which he served as
Chief Executive Officer of Accin.

     B. Accin assigned the Employment Agreement to the Company on May 21, 2007, along with
substantially all of the other assets of Accin, as part of a transaction between Accin and Cardo
Medical, LLC (“Cardo”) in which Cardo acquired a 37.5% interest in Accelerated and Accin acquired a
62.5% interest in Accelerated (the “Accelerated Interest”).

     C. Kvitnitsky and the Company entered into an amendment of the Employment Agreement effective
as of June 6, 2008 to remove references to a shareholders agreement of Accin.

     D. On the Effective Dated, Cardo acquired the Accelerated Interest held by Accin, and the
Company became a wholly-owned subsidiary of Cardo.

     E. As Kvitnitky serves as the Chief Operating Officer of Cardo, and serves in the same
capacity for the Company (and not as the Chief Executive Officer of the Company), the parties
desire to terminate the Employment Agreement as of the Effective Date.

     NOW THEREFORE, in consideration of the foregoing recitals and the mutual covenants and
agreements set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Kvitnitsky and the Company hereby agree as follows:

     1. Termination of Employment Agreement. Effective as of the Effective Date, without
further action by any party, all rights and obligations of the parties under the Employment
Agreement shall be terminated and such agreement shall be of no further force or effect.

     2. Miscellaneous.

          2.1 Successors and Assigns. All covenants and agreements contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective
successors and assigns of the parties hereto whether so expressed or not.

          2.2 Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Agreement.

          2.3 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one party, but all such
counterparts taken together shall constitute one and the same Agreement.

 

          2.4 Further Assurances. At any time and from time to time, Kvitnitsky and the Company
will, at the request and expense of the other party hereto, execute, acknowledge and deliver, or
cause to be executed, acknowledged and delivered, such instruments and other documents and perform
or cause to be performed such acts and provide such information, as may reasonably be required to
evidence or effectuate the performance by any party of any of its obligations under this Agreement.

          2.5 Entire Transaction. This Agreement and the documents referred to herein contain
the entire understanding among the parties with respect to the transactions contemplated hereby and
supersedes all other agreements and understandings among the parties on the subject matter hereof.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective on the Effective
Date.

	 	 	 	 	 
	 	ACCELERATED INNOVATION, LLC

 	 
	 	By:  	/s/ Andrew A. Brooks, M.D.
 	 
	 	 	Name:  	Andrew A.  Brooks, M.D.         	 
	 	 	Title:  	Manager 	 
	 

	 	 	 	 	 
	 
	 	 	 
	 	/s/ Mikhail Kvitnitsky
 	 
	 	MIKHAIL KVITNITSKY 	 
	 	 	 
	 

2EX-10.11 Employment Offer Letter with Derrick Romi

Exhibit 10.11

[CARDO MEDICAL, LLC LETTERHEAD]

September 5, 2008

Mr. Derrick Romine

20342 Via Cellini

Porter Ranch, CA 91326

			
	           Re:	 	Employment Offer Letter

     Dear Derrick:

     The purpose of this letter is to set forth the basic terms pursuant to which you have agreed
to work for Cardo Medical, LLC (the “Company”) as its Chief Financial Officer.

     In your capacity as Chief Financial Officer, you shall do and perform all services, acts and
things necessary or advisable commensurate with your position to promote the continued success of
the Company’s business, subject to the instructions, policies and limitations which may be set from
time to time by the Managers of the Company (the “Managers”) or its Chief Executive Officer. In
addition, you will be required to have proof of a valid driver’s license and current automobile
insurance on file at all times as you may be requested to drive on Company business from time to
time.

     Your monthly base salary will be $15,000 (the equivalent of $180,000 per year), which will be
subject to review and possible adjustment by the Managers on an annual basis. This salary will be
paid to you in accordance with the Company’s normal payroll policies, and the salary will be
subject to all applicable withholding charges. In addition, you will be eligible to participate in
all health insurance and employee benefit plans adopted by us, which are subject to change from
time to time. Currently, we expect this to include a healthcare plan, which we anticipate adopting
upon the completion of the merger (the “Merger”) of the Company with a wholly-owned subsidiary of
clickNsettle.com, Inc. (“CKST”). Your participation in these benefits will be subject to the terms
of the applicable benefits plans.

     The Company will reimburse you for normal business expenses, including travel expenses, as
well as mileage on a personal vehicle, incurred and submitted in accordance with Company policy.
Vacation, sick pay and holidays also will be in accordance with Company policy, which, again, is
subject to revision from time to time. Currently, you will be eligible to accrue three weeks of
vacation during your first year of employment.

     In addition to your base salary and employee benefits, you will be entitled to receive a bonus
up to a maximum amount of $45,000 based on specific performance objectives tied to the Company
meeting its financial targets. The Company targets will be set, and achievement of these targets
will be measured, by the Managers annually, in each case in their discretion. Please be advised
that the Company reserves the right to modify the bonus structure from time to time as it deems
appropriate in its business judgment. You will be provided notice of such modification prior to
its implementation.

     In addition, this confirms your receipt of options exercisable for 0.70443 units of membership
interests in the Company at an exercise price of $147,625 per unit (which is not less than the fair
market value on the date of grant). Upon completion of the Merger, these options converted to
options exercisable for 470,000 shares of the Common Stock of CKST at an exercise price of $0.22126
per share (which is not less than the fair market value on the date of grant). The term of the
option will be 10 years, subject to earlier expiration if your services to CKST (following the
Merger) are terminated. The option will vest in five (5) equal installments over five (5) years,
with the first installment vesting on the first

 

 

Mr. Derrick Romine

September 5, 2008

Page 2

anniversary of the date of grant. The option will be subject to the other terms and
conditions set forth in a standard form of Nonstatutory Stock Option Agreement.

     While it is our sincere hope and belief that our relationship will be a long one, the
representations in this letter and from our discussion(s) with you should not be construed in any
matter as a proposed contract for any fixed term. Indeed, you should be aware that your employment
with the Company shall be entirely “at-will”. This means that either you or the Company is free to
terminate our relationship at any time, with or without “Cause” or “Good Reason” (each as defined
below). This “at-will” relationship can only be changed by an agreement in writing signed by you
and the Managers.

     Notwithstanding the “at-will” nature of your employment, if the Company terminates your
employment without Cause, or if you terminate your employment with Good Reason, at any time during
the first two (2) years of your employment (i.e., on or before September 4, 2010), you will be
entitled to the following severance benefits (together, the “Severance Benefits”):

     (a) The Company will pay you the sum of six (6) months of your then-current monthly salary as
severance payment to be paid in bi-weekly installments so long as you do not work or otherwise
provide services to a competitor of the Company or CKST during such six (6)-month period. Such
severance payment shall be subject to all applicable payroll withholdings.

     (b) Fifty percent (50%) of your unvested options will become fully exercisable as of the date
of termination of your employment (the “Termination Date”) and, together with any vest options at
the Termination Date, may be exercised pursuant to the terms thereof within ninety (90) days of the
Termination Date (or one (1) year after the Termination Date if you die during such 90-day period).
The remaining unvested options at the Termination Date, to the extent not then presently
exercisable, shall terminate as of the Termination Date and shall not be exercisable thereafter.

     As a precondition to your receiving the Severance Benefits, the Company may require that you
reconfirm, in writing, you obligations hereunder and execute a general release of any and all
claims you might have against the Company and CKST and their respective officers, directors,
managers, employees and agents, whether arising out of your employment or termination of
employment.

     If you are terminated for Cause, or if you voluntarily terminate your employment or resign
from your positions with the Company or CKST without Good Reason, you shall not be entitled to the
Severance Benefits. As used herein, the term “Cause” means an act or omission that constitutes
fraud, deceit, intentional misconduct, a knowing violation of law, recklessness or gross negligence
that materially and adversely has affected or affects the business of the Company and/or CKST, a
material breach of any of your obligations under any written agreement with the Company and/or
CKST, or material nonperformance of your duties to the Company and/or CKST which has not been cured
after 15 days’ written notice from the Company and/or CKST setting forth in reasonable detail the
nature of the nonperformance. As used herein, the term “Good Reason” means a material breach by
the Company and/or CKST of any of their obligations under any written agreement with you, a
substantial and unusual reduction in your duties, responsibilities or authority, or receipt of
instructions to take actions in violation of law that has not been cured after 15 days’ written
notice from you to the Company and/or CKST setting forth in reasonable detail the nature of the
action giving rise to the claim of Good Reason.

     This letter will constitute the entire understanding between you and the Company with regard
to your employment with us, and shall supersede all previous understandings and agreements, verbal
or written, including, without limitation, the employment offer letter presented to you in February
2008 (the “February Offer Letter”). By signing below, you acknowledge that the February Offer
Letter is void and of no effect and does not create any rights or obligations for you or the
Company.

 

 

Mr. Derrick Romine

September 5, 2008

Page 3

     Your employment will also be subject to any Company policies, employment manuals or other
materials which affect the employment of its employees (which are subject to revision from time to
time except for the policies of at-will employment and the arbitration of disputes), unless these
policies conflict with the specific terms of this letter, in which case this letter will apply.
Any future modifications to the terms of your employment must be in writing and signed by the
Managers.

     If the above proposal conforms to your understanding of our agreement, please let me know by
signing this letter in the space provided below and returning it to me. Please also note you will
be required to sign an Employee Confidentiality Agreement and an Agreement to Arbitrate (which may
be set forth in the Employee Handbook). Your execution of these agreements is a standard condition
of employment (or continued employment) with the Company. Of course, you will be provided with the
opportunity to ask us any questions about these forms, or to discuss them with an attorney, prior
to signing them.

     Derrick, we look forward to continuing to work with you. If you have any questions pertaining
to your position or anything discussed in this letter, please do not hesitate to call me at (310)
274-2036.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Andrew A. Brooks, M.D.
 	 
	 	 	 
	 	Andrew A. Brooks, M.D.,

Chief Executive Officer 	 
	 

     I have reviewed the terms of the employment offer described above, I have had an opportunity
to ask questions about them, I understand them and I accept them.

	 	 	 	 	 	 	 
	Signed:

	 	/s/ Derrick Romine
	 	Date:
	 	September 5, 2008

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