Document:

Offer
Letter

    

    November
30, 2009

    

    John
Brewster

    *****

      

    
      	
              RE:

            	
              Formal
      offer to join Composite Technology Corporation as President, CTC Cable
      Corporation and Chief Commercial Officer of
CTC

            

    

    

    Dear Mr.
Brewster:

    

    This
letter is to confirm, in writing, our offer to you for the position of
President, CTC Cable Corporation, and Chief Commercial Officer of CTC with
an effective hire date of December 7, 2009. This offer is contingent upon the
successful completion of a background investigation (which includes, but is not
limited to, a reference check to previous employment and a satisfactory
completion and passing of a pre-employment drug screening test.) You will be
reporting to Benton H Wilcoxon, CEO, with compensation at the commencement of
your employment as follows:

    

    
      	
               
      

            	
              ·

            	
              Base
      salary of $350,000 annually, payable on a bi-weekly basis (Friday
      payday);

            

    

     

    
      	
               
      

            	
              ·

            	
              Relocation
      reimbursement to equal up to six months of temporary living, to include
      monthly housing payments and including incidental relocating expenses up
      to $5,000;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      to participate in CTC’s 401K program after 3 months of service, at the
      next quarterly enrollment period.  (next participation effective
      date would be April 1, 2010)  At this time there is no company
      match;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      for medical coverage through Blue Cross/Anthem, effective January 1, 2010.
      As a senior officer of CTC, your portion of the premium is covered by the
      company;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      for discount vision care through Vision Service Plan, effective January 1,
      2010;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      for dental coverage through Guardian Dental, effective January 1,
      2010;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      for life insurance, Accidental Death and Dismemberment insurance, and Long
      Term Disability insurance as administered by Guardian Insurance Company,
      effective January 1, 2010;

            

    

     

    
      	
               
      

            	
              ·

            	
              Eligibility
      to participate in a Flexible Spending
Account;

            

    

     

    
      	
               
      

            	
              ·

            	
              Paid
      Time Off (PTO) to be annually accrued at three weeks per
      year.  PTO accrual shall begin after full time status is
      achieved;

            

    

     

    
      	
               
      

            	
              ·

            	
              Company-paid
      holidays as determined each year.  You will be eligible to be
      paid for company-paid holidays after full time status is
      achieved;

            

    

    

      

    
      ***** This
material has been omitted pursuant to a request for confidential treatment and
filed separately with the Securities and Exchange Commission.

       

      
        	
                2026
      McGaw Avenue Irvine, California 92614 USA   Tel: (949)
      428-8500  Fax: (949) 428-8500   

              	
                

              

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    

       

    
      	
               
      

            	
              ·

            	
              Eligibility
      to be granted two million non-qualifying stock options, to be priced at
      the greater of $0.35 per option or slightly above closing market price
      (generally within 5% above closing market price) of Composite Technology
      Corporation’s common stock on the date of approval by the board after
      hire, vesting on a quarterly basis over 3 years, and subject to approval
      by the Board of Directors of Composite Technology
    Corporation;

            

    

     

    
      	
               
      

            	
              ·

            	
              Composite
      Technology Corporation or its Board of Directors reserves the right to
      approve all subsequent hiring decisions related to additional staff
      desired;

            

    

    

    
      	
               
      

            	
              ·

            	
              As
      an on-boarding incentive, you will be eligible to receive a one-time
      payment of $50,000.00 as well as a grant of $50,000.00 in stock, to be
      valued at the current market value at time of hire, less applicable
      withholding taxes.

            

    

    

    
      	
               
      

            	
              ·

            	
              As
      an exception, CTC agrees that you will be permitted to spend 4 weeks a
      year working from another location.

            

    

    

    John, in
accepting our offer of employment, you certify your understanding that your
employment will be on an at-will basis.  Previous conversations
regarding this offer should not be construed as a contract regarding the terms
or the duration of your employment. As an at-will employee, you will be free to
terminate your employment with Composite Technology Corporation at any time,
with or without cause or advance notice. Likewise, Composite Technology
Corporation will have the right to reassign you, to change your compensation, or
to terminate your employment at any time, with or without cause or advance
notice.  It is understood that all duties and projects assigned to you
will be accomplished in a professional manner.

    

    This
offer of employment, if not previously accepted by you, will expire seven days
from the date of this letter, although additional time for consideration of the
offer can be made available if you find it necessary. To confirm your acceptance
of this offer, please forward a signed and dated copy to me within the
prescribed time at our Irvine, CA office. Please initial all pages as
well.

    

    Additionally,
this offer of employment will be withdrawn if the pre-employment drug screen
returns results indicating violations of Composite Technology Corporation’s
illegal drug policies, or if the background checks reveal information sufficient
to cause you to be eliminated from further consideration for employment. This
would include any information provided by you that is found to be false,
incomplete, or misrepresented in any respect and may even result in immediate
discharge from employment if discovered at any point after the hire
date.

    

    
      
        	
                Sincerely,

              
	 
      
	
                

              
	
                Benton
      H Wilcoxon

              
	
                CEO,
      Composite Technology
Corporation

              

      

    

     

    ACCEPTED:

     

    
      
        	 
      	 
      	 
      	 
      
	
                John
      Brewster

              	 
      	
                Date  

              	 
      

      

    

    

    
      
        	
                2026
      McGaw Avenue Irvine, California 92614 USA   Tel: (949)
      428-8500  Fax: (949) 428-8500AMENDMENT
NO. 1 TO

      EMPLOYMENT
AGREEMENT

      

      This
AMENDMENT NO. 1 (“Amendment”) to that certain Employment Agreement, dated
November 12, 2008 (collectively, “Agreement”), by and between NexCen Brands,
Inc. (the “Company”) and Mark Stanko (“Executive” or “you”), is made effective
as of June 30, 2009 (the “Effective Date”).

      

      WHEREAS, the Compensation Committee of
the Company’s Board of Directors has approved this Amendment No. 1 and the
changes to the Agreement that it will effect.

      

      NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the undersigned agree as follows:

      

      Section
1.              
Amendments.  The Agreement shall be amended as follows:

      

      
        	
              	
                A.

              	
                Section
      1.3(f) shall be deleted in its entirety and replaced with the
      following:

              

      

      

      (f)            Additional Benefits.
During the Employment Period, the Executive shall be entitled to participate
(for himself and, as applicable, his dependents) in the group medical, life,
401(k) and other insurance programs, employee benefit plans and perquisites
which may be adopted by the Company, the Board or the Compensation Committee,
from time to time, for participation by the Company’s senior management or
executives, as well as dental, life and disability insurance coverage, with
payment of, or reimbursement for, such insurance premiums by the Company,
subject to, in all cases, the terms and conditions established by the Company,
Board or the Compensation Committee with respect to such plans (collectively,
the “Benefits”);
provided, however, that the Company, Board or the Compensation Committee, in its
reasonable discretion, may revise the terms of any Benefits so long as such
revision does not have a disproportionately negative impact on the Executive
vis-à-vis other Company employees, to the extent applicable.

      

      Section
2.              Effect
of Amendment.  Except as set forth in Section 1 of this Amendment, the
provisions of the Agreement shall not be amended or altered by this Amendment
and shall continue in full force and effect.

      

      Section
3.              Miscellaneous.  This
Amendment shall be governed by the internal laws of the State of New
York.  This Amendment may be executed in one or more counterparts,
each of which when executed and delivered shall be deemed to be an original and
all counterparts taken together shall constitute one and the same
instrument.  This Amendment and the Agreement (as amended hereby)
constitute the entire understanding of the parties hereto with respect to the
subject matter hereof, and any and all prior agreements and understandings
between the parties regarding the subject matter hereof, whether written or
oral, except for the Agreement (as amended hereby), are superceded by this
Amendment.  Any provision of this Amendment which is invalid or
unenforceable in any jurisdiction shall be ineffective to the extent of such
invalidity or unenforceability without invalidating or rending unenforceable the
remaining provisions hereof, and any invalidity or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, this Amendment has been duly executed and delivered by the
undersigned parties on December 14, 2009.

      

      
        
          
            
              
                
                  	 
      	
                          COMPANY:

                        
	 
      	 
      	 
      
	 
      	
                          NEXCEN
      BRANDS, INC.

                        
	 
      	 
      	 
      
	 
      	
                          By:

                        	
                            /s/ Kenneth J.
    Hall

                        
	 
      	
                          Name:  Kenneth
      J. Hall

                        
	 
      	
                          Title:    Chief
      Executive Officer

                        
	 
      	 
      	 
      
	 
      	
                          EXECUTIVE:

                        
	 
      	 
      	 
      
	 
      	
                            /s/ Mark Stanko

                        
	 
      	
                          Mark
      Stanko

                        

                

              

            

          

        

      

       

      
        
           

        

        
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