Document:

Unassociated Document

                                                                         

                                                                                    Exhibit
      10.36

    

      EMPLOYMENT
        AGREEMENT

      

      

      THIS
        EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of the 13th day
        of July, 2005, between Talk America Holdings, Inc., a Delaware corporation
        (“Company”), and Mark A. Wayne (“Employee”), and amends and supercedes that
        certain Employment Agreement dated July 20, 2004, as amended, among LDMI
        Telecommunications, Inc. and Mark A. Wayne (“Former Agreement”).

      

      Preliminary
        Statement

      

      WHEREAS,
        Company desires to employ Employee and Employee desires to be employed by
        Company; and

      

      WHEREAS,
        Company and Employee desire to enter into this Agreement that sets forth
        the
        terms and conditions of said continued employment.

      

      NOW
        THEREFORE, in consideration of the foregoing, the mutual covenants set forth
        herein and other good and valuable consideration, the receipt and sufficiency
        of
        which is hereby acknowledged, the undersigned hereby agree as
        follows:

      

      1. Employment.
        Company
        agrees to employ Employee, and Employee accepts such employment and agrees
        to
        serve Company, on the terms and conditions set forth herein. Except as otherwise
        specifically provided herein, Employee’s employment shall be subject to the
        employment policies and practices of Company in effect from time to time
        during
        the term of Employee’s employment hereunder (including without limitation its
        practices as to reporting and withholding). Employee
        and Company agree that the Employee Severance Retention Agreement between
        LDMI
        Telecommunications, Inc. and Mark Wayne dated July 12, 2005 shall remain
        in full
        force and effect (a copy of which is attached hereto).

      

      2. Term
        of Agreement.
        The
        term of Employee’s employment hereunder shall continue in effect for a period of
        three (3) years after the date hereof, except as hereinafter provided (the
        “Term”).

      

      3. Position
        and Duties.
        Except
        as
        may otherwise be agreed upon between Company and Employee, Employee shall
        perform such duties and have such responsibilities as Senior Vice President
        -
        Business Sales of the Company, and such other duties and responsibilities
        consistent with the foregoing duties and responsibilities as may be reasonably
        assigned or delegated to him from time to time by the Company’s Chief Executive
        Officer or the Company’s Board of Directors (the “Board”), including, without
        limitation, service as an employee, officer or director of affiliates (as
        that
        term is defined in Rule 405 of the Securities Act of 1933, as amended (the
        “Act”)) of Company (collectively, “Affiliates”) without additional compensation.
        References in this Agreement to Employee’s employment with Company shall be
        deemed to refer to employment with Company or an Affiliate. Employee shall
        perform his duties and responsibilities to the best of his abilities in a
        diligent, trustworthy, business like and efficient manner. Employee shall
        devote
        substantially all of his working time and efforts to the business and affairs
        of
        Company; provided, however, that nothing in this Agreement shall preclude
        the
        Employee from (i) engaging in charitable activities and community affairs;
        (ii)
        managing his personal investments and affairs, subject to the limitations
        of
        Section 10 hereof; and (iii) acting as a director of another corporation
        if the
        Chairman of the Board or the Chief Executive Officer of Company shall have
        consented to Employee’s accepting such directorship.

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

               
        4. Compensation
        and Related Matters.

      
        	 	 

      

      4.1  Base
        Salary.
        During
        the Term, Company shall pay to Employee an annualized base salary of not
        less
        than $175,000, subject to review from time to time by the Board (“Base Salary”).
        Base Salary shall be paid in accordance with Company’s usual and customary
        payroll practices. 

      

      4.2 Benefit
        Plans and Arrangements.
        

      

      (i) Employee
        shall be entitled to participate in and to receive benefits under Company’s
        employee benefit plans and arrangements (including, but not limited to, bonus
        plans) as are made available to the Company’s senior executive officers during
        the Term, which employee benefit plans may be altered from time to time at
        the
        discretion of the Board (collectively with the benefits referred to in Section
        4.3, the “Benefits”). 

      

      (ii) Notwithstanding
        the foregoing, for the balance of 2005, Employer shall only be entitled to
        bonuses and sales commissions under LDMI Telecommunications, Inc. bonus plans.
        Employee shall be eligible to receive during the balance of 2005 a cash bonus
        under the LDMI Telecommunications, Inc. bonus plans based upon achievement
        by
        Employee of goals and objectives (the “Bonus Objectives”) to be established and
        determined by the Chief Executive Officer of Company, which Bonus Objectives
        shall be provided quarterly in writing to Employee. The cash bonus shall
        be as
        determined by the CEO of Company.

      

      (iii)
         Without
        limitation of the generality of the foregoing, the Benefits shall include
        a
        minimum of three (3) weeks of paid vacation each calendar year, which, if
        not
        used in its entirety in any year, may be carried over to the next succeeding
        calendar year, provided that Employee shall not be entitled to more than
        five
        (5) weeks of paid vacation in any calendar year. Employee acknowledges and
        agrees that bonuses, annual or otherwise, are performance-based and
        discretionary with the Company’s Chief Executive Officer and the
        Board.

      

      4.3 Perquisites.
        During
        the Term of his employment hereunder, Employee shall be entitled to receive
        fringe benefits as are made available to the Company’s senior executive
        officers.
        In
        addition, during the Term, Company will provide Employee with an automobile,
        as
        Company shall determine, and Company shall keep such automobile fully insured
        in
        accordance with Company’s practices for similarly situated
        employees.

      

      4.4 Expenses.
        Company
        shall promptly reimburse Employee for all normal and reasonable out-of-pocket
        expenses related to Company’s business that are actually paid or incurred by him
        in the performance of his services under this Agreement and that are incurred,
        reported and documented in accordance with Company’s policies.

      

      4.5 Options.
        It is
        the Company’s intention that Employee shall be granted options to purchase
        shares of Common Stock of Talk America Holdings, Inc. in an amount and at
        such
        time as may be approved by the Compensation Committee of Talk America Holdings,
        Inc. after such time as the shareholders of Talk America Holdings, Inc. approve
        the 2005 Incentive Plan.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      5. Termination.
        The
        Term may be terminated under the following circumstances:

      

      5.1 Death.
        The
        Term shall terminate upon the Employee’s death.

      

      5.2 Disability.
        If
        Employee becomes physically or mentally disabled during the term hereof so
        that
        he is unable to perform services required of him pursuant to this Agreement
        for
        an aggregate of six (6) months in any twelve (12) month period (a “Disability”),
        Company, at its option, may terminate Employee’s employment
        hereunder.

      

      5.3 Cause. Upon
        written notice, Company may terminate the Term for Cause. For purposes of
        this
        Agreement, Company shall have “Cause” to terminate Employee’s employment
        hereunder upon (i) material breach by Employee of any material provision
        of this
        Agreement if Employee fails to cure such
        breach in the 30 day period following written notice specifying in reasonable
        detail the nature of the breach;
        (ii)
        willful misconduct by Employee as an employee of Company in connection with
        misappropriating any funds or property of Company or attempting to willfully
        obtain any personal profit from any transaction in which Employee has an
        interest that is adverse to the interests of Company ; (iii) Employee’s gross
        neglect or unreasonable refusal to perform the duties assigned to Employee
        under
        or pursuant to this Agreement if
        Employee fails to eliminate such neglect in the 30 day period following written
        notice specifying in reasonable detail the nature of the gross neglect; or
        (iv)
        conviction or plea of nolo contendere by Employee to a felony or a misdemeanor
        involving moral turpitude.

      

      5.4 By
        Employee.

      

      (i) Employee
        may terminate employment hereunder for any reason (other than Good Reason)
        upon
        sixty (60) days’ prior written notice to Company, provided that, upon the giving
        of such notice by Employee, Company may establish an earlier date for the
        termination of the Term and such termination under this Section
        5.4.

      

      (ii) Employee
        may terminate employment hereunder for Good Reason immediately and with notice
        to Company. “Good Reason” for termination by Employee shall include, but is not
        limited to, the following:

      

      (a) Material
        breach of any provision of this Agreement by Company, which breach shall
        not
        have been cured by Company within thirty (30) days of receipt of written
        notice
        of said material breach;

      

      (b) Failure
        by Company to maintain Employee in a title and position commensurate with
        that
        referred to in Section 3 of this Agreement without Employee’s express written
        consent;

      

      (c) The
        assignment to Employee of any duties inconsistent with the Employee’s title and
        position as contemplated by Section 3 of this Agreement, or any other action
        by
        Company that results in a diminution of Employee’s position, authority, duties
        or responsibilities without Employee’s express written consent; or

      

      (d) The
        relocation of Company’s offices at which Employee is principally employed to a
        location more than 50 miles away from Southfield, Michigan, or Company’s
        requiring Employee to be based anywhere other than Company’s offices in
        Southfield, Michigan without Employee’s express written consent except for
        required travel on Company’s business to the extent substantially consistent
        with Employee’s travel obligations during the year preceding the date of this
        Agreement (including, without limitation, periodic travel to and work at
        Company’s offices in Pennsylvania, Florida and Virginia).

      

      5.5 Without
        Cause.
        Company
        may otherwise terminate the Term at any time upon written notice to
        Employee.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      6. Compensation
        In the Event of Termination.
        Except
        as otherwise provided in Section 7.3, in the event that Employee’s employment
        pursuant to this Agreement terminates prior to the end of the Term of this
        Agreement, Company shall make payments to Employee as set forth
        below:

      

      6.1 By
        Employee for Good Reason; By Company Without Cause.
        In the
        event that Employee’s employment hereunder is terminated: (i) by Employee for
        Good Reason or (ii) by Company without Cause, then Company shall (a)
        pay to
        Employee all amounts due to Employee pursuant to any bonus or commission
        that
        was due to Employee as of the date of such termination, pursuant to the terms
        of
        such bonus or commission (a “Due Bonus”), (b) continue
        to pay and provide Employee the
        Base
        Salary and Benefits to which Employee would be entitled hereunder in the
        manner
        provided for herein for the period of time ending on the first anniversary
        of
        the date of such termination,  (c)
        reimburse Employee for expenses that may have been incurred, but which have
        not
        been paid as of the date of termination, subject to the requirements of Section
        4.4 hereof and (d) one hundred percent (100%) of the outstanding stock options
        granted to the Employee that are unvested shall immediately vest and become
        exercisable.

      

      6.2 By
        Company for Cause; By Employee Without Good Reason.
        In the
        event that Company shall terminate Employee’s employment hereunder for Cause
        pursuant to Section 5.3 hereof or Employee shall terminate his employment
        hereunder without Good Reason, all compensation and Benefits, as specified
        in
        Section 4 of this Agreement, heretofore payable or provided to the Employee
        shall cease to be payable or provided, except for (a) any Base Salary, Due
        Bonus
        and Benefits that may have been earned and are due and payable but that have
        not
        been paid as of the date of termination and (b) reimbursements for expenses
        that
        may have been incurred, but that have not been paid as of the date of
        termination, subject to the requirements of Section 4.4 hereof.

      

      6.3 Death.
        In the
        event of Employee’s death, Company shall not be obligated to pay Employee or his
        estate or beneficiaries any compensation except for (a) any Base Salary,
        Due
        Bonus and any Benefits that may have been earned and are due and payable
        but
        that have not been paid as of the date of death,
        (b)
        reimbursement of expenses that may have been incurred, but that have not
        been
        paid as of the date of death, subject to the requirements of Section 4.4
        hereof,
        and (c) all outstanding stock options granted to Employee that are unvested
        shall immediately vest and become exercisable and Employee’s estate or
        beneficiaries, as the case may be, shall have the right to exercise any of
        such
        stock options during the period commencing on the date of death and ending
        on
        the first anniversary of the date of such termination or for the remainder
        of
        the period set forth in the option agreement applicable to the option in
        question (the “Exercise Period”), if less.

      

      6.4  Disability.
        In the
        event of Employee’s Disability, Company shall not be obligated to pay Employee
        or his estate or beneficiaries any compensation except for: (a) any Base
        Salary,
        Due Bonus and any Benefits that may have been earned and are due and payable
        but
        that have not been paid as of the date of such Disability; and (b) reimbursement
        for expenses that may have been incurred but that have not been paid as of
        the
        date of Disability, subject to the requirements of Section 4.4 hereof.
Upon
        termination due to Disability, fifty percent (50%) of the outstanding stock
        options granted to Employee that are unvested shall immediately vest and
        become
        exercisable and Employee or his estate or beneficiaries, as the case may
        be,
        shall have the right to exercise any of such stock options during the period
        commencing on the date of Disability and ending on the second anniversary
        of the
        date of the Disability or for the remainder of the Exercise Period, if
        less.

      

      6.5  No
        Mitigation.
        In the
        event of any termination of employment under Section 5 or Section 7.3, Employee
        shall be under no obligation to seek other employment; provided, however,
        to the
        extent that Employee does obtain other employment subsequent to the termination
        of Employee’s employment hereunder, Company’s obligations to continue to pay or
        provide Benefits under this Agreement for the period from and after the date
        of
        commencement of such other employment shall terminate.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      7. Change
        in Control.

      

      7.1 Change
        in Control.
        For
        purposes of this Agreement, “Change in Control” shall be deemed to have occurred
        if:

      

      7.1.1  any
        Person (as defined in Section 3(a)(9) under the Securities Exchange Act of
        1934,
        as amended (the “Exchange Act”)), other than Company or any Significant
        Subsidiary (as defined below), becomes the Beneficial Owner (as defined in
        Rule
        13d-3 under the Exchange Act; provided, that a Person shall be deemed to
        be the
        Beneficial Owner of all shares that any such Person has the right to acquire
        pursuant to any agreement or arrangement or upon exercise of conversion rights,
        warrants, options or otherwise, without regard to the 60-day period referred
        to
        in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
        of
        Company or any Significant Subsidiary (as defined below) representing 50%
        or
        more of the combined voting power of the Company’s, or such Significant
        Subsidiary’s, as the case may be, then outstanding securities;

      

      7.1.2  during
        any period of two years, individuals who at the beginning of such period
        constitute the Board and any new director (other than a director designated
        by a
        person who has entered into an agreement with Company to effect a transaction
        described in 7.1.3, 7.1.4 or 7.1.5) whose election by the Board or nomination
        for election by stockholders was approved by a vote of at least two-thirds
        (2/3)
        of the directors then still in office who either were directors at the beginning
        of the two-year period or whose election or nomination for election was
        previously so approved, but excluding for this purpose any such new director
        whose initial assumption of office occurs as a result of either an actual
        or
        threatened election contest or other actual or threatened solicitation of
        proxies or consents by or on behalf of an individual, corporation, partnership,
        group, association or other entity other than the Board, cease for any reason
        to
        constitute at least a majority of the Board of either Company or a Significant
        Subsidiary;

      

      7.1.3  the
        consummation of a merger or consolidation of Company or any subsidiary of
        Company owning directly or indirectly all or substantially all of the
        consolidated assets of Company (a “Significant Subsidiary”) with any other
        entity, other than a merger or consolidation that would result in the holder(s)
        of voting securities of Company or a Significant Subsidiary outstanding
        immediately prior thereto continuing to hold more than fifty percent (50%)
        of
        the combined voting power of the surviving or resulting entity outstanding
        immediately after such merger or consolidation;

      

      7.1.4  the
        stockholders of Company approve a plan or agreement for the sale or disposition
        of fifty percent (50%) or more of the consolidated assets of Company in which
        case the Board shall determine the effective date of the Change of Control
        resulting therefrom; or

      

      7.1.5  any
        other
        event occurs that the Board determines, in its discretion, would materially
        alter the structure of Company or its ownership.

      

      7.2 Options
        Vesting.
        In
        the
        event of a Change in Control of Company, all outstanding options granted
        to you
        by Company shall vest immediately and become exercisable as to all shares
        then
        subject thereto that are not then vested and exercisable.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      7.3 Termination
        after Change in Control.

      

      7.3.1 If
        a
        Change of Control shall occur during the Term of this Agreement, the term
        of
        Employee’s employment hereunder shall continue in effect until the later of the
        first anniversary of the date of the Change in Control and the date that
        the
        Term would otherwise have terminated without regard to the extension in this
        sentence, except for earlier termination as provided in Section 5 of this
        Agreement. The rights and obligations of Employee and Company under this
        Agreement upon or after any termination of the Term shall survive any such
        termination.

      

      7.3.2 Notwithstanding
        the provisions of Section 6 hereof, if a Change in Control has occurred and
        Employee’s employment hereunder is terminated within one year of such Change in
        Control: (i) by Employee for Good Reason or (ii) by Company without Cause,
        then
        Company shall (a)
        pay to
        Employee the Base Salary and Benefits through the date of termination plus
        all
        amounts due to Employee pursuant to any Due Bonus; (b) pay to Employee, as
        severance pay, a lump sum amount equal to the sum of (x) twelve months’ Base
        Salary plus (y) an amount equal to the average annual incentive bonus earned
        by
        Employee from Company during the last four (4) completed fiscal years of
        Company
        preceding the date of Change in Control, or if Employee was not an officer
        during any or all of such prior four (4) fiscal years, the average of the
        incentives received during the fiscal years when Employee was such an officer;
        (c) for a period of one year after the date of termination, arrange to provide
        Employee with life, disability, sickness and accident, health, vision and
        dental
        insurance benefits substantially similar to those that Employee was entitled
        prior to the Change in Control, as well as with the other fringe benefits
        and
        perquisites to which Employee was entitled pursuant to Section 4.3 at the
        Company’s expense;
        and
(d)
        reimburse Employee for expenses that may have been incurred, but which have
        not
        been paid as of the date of termination, subject to the requirements of Section
        4.4 hereof.

      

      8. Unauthorized
        Disclosure.
        Employee shall not, without the prior written consent of Company, disclose
        or
        use in any way, either during the Employee’s employment with Company or
        thereafter, except as required in the course of such employment, any
        confidential business or technical information or trade secret acquired in
        the
        course of such employment (including, without limitation of the generality
        of
        the foregoing, any and all information referred to in Section 10 hereof),
        whether or not conceived of or prepared by him, that is related to the actual
        or
        anticipated business, services, research and development of Company or any
        of
        its Affiliates or to existing or future products or services of Company or
        any
        of its Affiliates; provided, that the foregoing shall not apply to (i)
        information that is not unique to Company or that is generally known to the
        industry or the public other than as a result of Employee’s breach of this
        covenant, (ii) information known to the Employee prior to the date he first
        became an employee of Company or any of its Affiliates (except insofar as
        it is
        part of the information that is the exclusive property of Company as provided
        in
        Section 10), or (iii) information that Employee is required to disclose to
        or by
        any governmental or judicial authority; provided, however, if Employee should
        be
        required in the course of judicial or administrative proceedings to disclose
        any
        information, Employee shall give Company prompt written notice thereof so
        that
        Company may seek an appropriate protective order and/or waive in writing
        compliance with the confidentiality provisions of this Agreement. If, in
        the
        absence of a protective order or the receipt of a waiver by Company, Employee
        is
        nonetheless, in the written opinion of its counsel, compelled to disclose
        information to a court or tribunal or otherwise stand liable for contempt
        or
        suffer other serious censure or penalty, Employee may disclose such information
        to such court or tribunal without liability to any other party
        hereto.

      

      9. Tangible
        Items.
        All
        files, records, documents, manuals, books, forms, reports, memoranda, studies,
        data, calculations, recordings, correspondence, in whatever form they may
        exist,
        and all copies, abstracts and summaries of the foregoing and all physical
        items
        related to the business of Company and its Affiliates, other than merely
        personal items, whether of a public nature or not, and whether prepared by
        Employee or not, are and shall remain the exclusive property of Company and
        its
        Affiliates and shall not be removed from their premises, except as required
        in
        the course of employment by Company or its Affiliates, without the prior
        written
        consent of Company, and the same shall be promptly returned by Employee on
        the
        termination of Employee’s employment with Company, its Affiliates or at any time
        prior thereto upon the request of Company.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      10. Inventions
        and Patents.
        Employee agrees that all inventions, innovations, ideas, concepts, improvements,
        developments, methods, designs, analyses, drawings, reports, and all similar
        or
        related information that relates to the actual or anticipated business,
        services, research and development of Company or any of its Affiliates or
        existing or future products or services of Company or any of its Affiliates,
        tangible or intangible, and that are conceived, developed or made by or at
        the
        direction of Employee while employed by Company, and all rights to the results
        and proceeds of any thereof and all now known and hereafter existing rights
        of
        every kind and nature throughout the universe, in perpetuity and in all
        languages, pertaining to such results and proceeds and all elements thereof
        for
        all now known and hereafter existing uses, media and form will be owned
        exclusively by Company; and the foregoing is inclusive of a full irrevocable
        and
        perpetual assignment to Company. Employee
        acknowledges that there are, and may be, new uses, media, means and forms
        of
        exploitation throughout the universe employing current and/or future technology
        yet to be developed, and the parties specifically intend the foregoing full,
        irrevocable and perpetual grant of rights to Company to include all such
        now
        known and unknown uses, media and form of exploitation, throughout the universe.
        Employee agrees to execute at any time upon the Company’s request such further
        documents or do such other acts (whether
        before, during or after the Term) as
        may be
        required to evidence and/or confirm the Company’s ownership of any or all of the
        foregoing. The termination, completion or breach of this Agreement for any
        reason and by either party shall not affect the Company’s exclusive ownership of
        any or all of the foregoing.

      

      11. Certain
        Restrictive Covenants.
        Employee agrees that, during the Term and for a period one year immediately
        following termination of his employment with Company for any reason, provided
        that Company has met and continues to meet its obligations pursuant to the
        terms
        of this Agreement following termination, he will not act either directly
        or
        indirectly as a partner, officer, director, five or more percent stockholder,
        employee, employer or consultant or render advisory or other services for,
        or in
        connection with, or become interested in, or make any substantial financial
        investment in any firm, corporation, business entity or business enterprise
        competitive with the business of Company, except with the express written
        consent of the Board. Employee further agrees for a period of one year
        immediately following termination of his employment with the Company for
        any
        reason, provided that Company has met and continues to meet its obligations
        pursuant to the terms of this Agreement following termination, he will not
        employ or offer to employ, call on, solicit, actively interfere with Company’s
        or any Affiliate’s relationship with, or attempt to divert or entice away, any
        employee of Company or any Affiliate.

      

      12. Employee
        Representations.
        Employee hereby represents and warrants to Company that (i) the execution,
        delivery and performance of this Agreement by Employee does not and will
        not
        conflict with, breach, violate or cause a default under any contract, agreement,
        instrument, order, judgment or decree to which Employee is a party or by
        which
        he is bound, (ii) except as disclosed to Company in writing prior to the
        execution of this Agreement, Employee is not a party to or bound by any
        employment agreement, non-compete agreement or confidentiality agreement
        with
        any other person or entity, and (iii) upon the execution and delivery of
        this
        Agreement by Company, this Agreement shall be the valid and binding obligation
        of Employee, enforceable in accordance with its terms.

      

      13. Company
        Representations. Company
        represents and warrants (i) that it is duly authorized and empowered to enter
        into this Agreement, (ii) that the performance of its obligations under this
        Agreement will not violate any agreement between it and any other person,
        firm
        or organization and (iii) upon the execution and delivery of this Agreement
        by
        the Employee, this Agreement shall be the valid and binding obligation of
        Company, enforceable in accordance in accordance with its terms.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      14. Remedies.
        Employee acknowledges that the restrictions and agreements contained in this
        Agreement are reasonable and necessary to protect the legitimate interests
        of
        Company, and that any violation of this Agreement will cause substantial
        and
        irreparable injury to Company that would not be quantifiable and for which
        no
        adequate remedy would exist at law and agrees that injunctive relief, in
        addition to all other remedies, shall be available therefor.

      

      15. Effect
        of Agreement on Other Benefits. Except
        as
        specifically provided in this Agreement, the existence of this Agreement
        shall
        not be interpreted to preclude, prohibit or restrict Employee’s participation in
        any employee benefit plan, program or arrangement provided to officers,
        directors or employees of Company.

      

      16. Rights
        of Executive’s Estate.
        If
        Employee dies prior to the payment of all amounts due and owing to him under
        the
        terms of this Agreement, such amounts shall be paid to such beneficiary or
        beneficiaries as Employee may have last designated in writing filed with
        the
        Secretary of Company or, if Employee has made no beneficiary designation,
        to
        Employee’s estate. Such designated beneficiary or the executor of his estate, as
        the case may be, may exercise all of Employee’s rights hereunder. If any
        beneficiary designated by Employee shall predecease Employee, the designation
        of
        such beneficiary shall be deemed revoked, and any amounts that would have
        been
        payable to such beneficiary shall be paid to Employee’s estate. If any
        designated beneficiary survives Employee, but dies before payment of all
        amounts
        due hereunder, such payments shall, unless Employee has designated otherwise,
        be
        made to such beneficiary’s estate. In the event of Employee’s death or judicial
        determination of his incompetence, reference in this Agreement to Employee
        shall
        be deemed where appropriate, to refer to his beneficiary, estate or other
        legal
        representative.

      

      17. Severability.
        It is
        the intent and understanding of the parties hereto that if, in any action
        before
        any court or agency legally empowered to enforce this Agreement, any term,
        restriction, covenant, or promise is found to be unreasonable and for that
        reason unenforceable, then such term, restriction, covenant, or promise shall
        not thereby be terminated but that it shall be deemed modified to the extent
        necessary to make it enforceable by such Court or agency and, if it cannot
        be so
        modified, that it shall be deemed amended to delete therefrom such provision
        or
        portion adjudicated to be invalid or unenforceable, such modification or
        amendment in any event to apply only with respect to the operation of this
        Agreement in the particular jurisdiction in which such adjudication is
        made.

      

      18. Notice.
        For the
        purposes of this Agreement, notices, demands and all other communications
        provided for in the Agreement shall be in writing and shall be deemed to
        have
        been duly given when received if delivered in person or by overnight courier
        or
        if mailed by United States registered mail, return receipt requested, postage
        prepaid, to the following addresses:

      

      If
        to
        Employee:

      

      Mark
        A.
        Wayne

      19512
        Coventry

      Riverview,
        Michigan 48192

      

      If
        to
        Company:

      

      Talk
        America Holdings, Inc.

      6805
        Route 202

      New
        Hope,
        Pennsylvania 18938

      Attn:
        General Counsel

      

      Either
        party may change its address for notices by written notice to the other party
        in
        accordance with this Section.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      19. Miscellaneous.
        No
        provision of this Agreement may be modified, waived or discharged unless
        such
        waiver, modification or discharge is agreed to in writing signed by Employee
        and
        Company. No waiver by either party hereto at any time of any breach by the
        other
        party hereto of, or compliance with, any condition or provision of this
        Agreement to be performed by such other party shall be deemed a waiver of
        similar or dissimilar provisions or conditions at the same or at any prior
        or
        subsequent time. The validity, interpretation, construction and performance
        of
        this Agreement shall be governed by the laws of Pennsylvania relating to
        contracts made and to be performed entirely therein.

      

      20. Headings.
        The
        headings in this Agreement are inserted for convenience only and shall have
        no
        significance in the interpretation of this Agreement.

      

      21. Successors.
        This
        Agreement shall be binding upon and inure to the benefit of the parties hereto
        and their heirs, personal representatives and successors, including without
        limitation any Affiliate to which Company may assign this Agreement. Employee
        may not assign or transfer his rights to compensation and benefits, except
        by
        will or operation of law and except as provided in Section 16
        above.

      

      22. Counterparts.
        This
        Agreement may be executed in one or more counterparts, each of which shall
        be
        deemed to be an original but all of which together will constitute one and
        the
        same instrument.

      

      23. Release.
        Employee
        agrees to release and hereby releases all claims or causes of action described
        in the next sentence that Employee may have against Company or LDMI
        Telecommunications, Inc. or any of their parents, subsidiaries, affiliates,
        directors, officers, partners, employees, successors, agents, attorneys,
        assigns, insurers, or employee benefit programs and the trustees,
        administrators, fiduciaries, or insurers of such programs (“Releasees”).
        Employee hereby releases all claims or causes of action (whether presently
        known
        or unknown) or obligations of any and all kinds and nature arising on or
        before
        the date of execution of this Agreement that Employee has or may have against
        Releasees arising out of the Former Agreement. Employee also specifically
        agrees
        and understands that the release contained in this paragraph includes claims
        that Employee presently does not know or suspect to exist, even if Employee
        would not have entered into this Agreement had Employee known that those
        claims
        existed. Employee understands and agrees that the foregoing release means
        that
        Employee is giving up the right to sue the Releasees on any claim or cause
        of
        action released. 

      

      IN
        WITNESS WHEREOF, each of the parties hereto has executed this Agreement as
        of
        the day and year first written above.

      

      TALK
        AMERICA HOLDINGS, INC.

      

      

      By:
        /s/ Aloysius T. Lawn, IV     

      Name:
        Aloysius T. Lawn, IV

      Title:
        EVP - General Counsel

      

       

      /s/
        Mark A. Wayne

                                                     
        Mark A. Wayne

      EmployeeUnassociated Document

                                                                                    Exhibit
    10.42

    TRIPLE
      NET COMMERCIAL LEASE

    

    This
      Triple Net Lease is made and entered into this 7th day of September, 2000,
      at
      Pensacola, Florida, by and between CORDOVA ASSOCIATES, LLC, a Florida limited
      liability company or its assigns, (hereinafter referred to as “Lessor”), and NT
      Corporation, a Delaware corporation, (hereinafter referred to as
“Lessee”).

     

    WITNESSETH:

     

    WHEREAS,
      Lessor is the owner of an 80,000 square foot building located on the property
      described in Exhibit A, attached and incorporated by reference and which
      building, together with the parking facilities specifically assigned to Lessee
      as described herein are hereinafter referred to as “Leased
      Premises”.

     

    WHEREAS,
      Lessee desires to lease the Leased Premises from the Lessor and Lessee desires
      to lease the Leased Premises to the Lessee;

     

    NOW
      THEREFORE, in consideration of the foregoing and in consideration of their
      covenants, terms, and conditions hereinafter expressed, the parties hereto
      agree
      as follows.

     

    ARTICLE
      I

    DESCRIPTION,
      USE, TERM, AND RENT

     

    
      	1.01  	
              Lessor
                hereby leases to Lessee, and Lessee hereby leases from Lessor, the
                Leased
                Premises; to be used only as an office building and corporate headquarters
                for Lessee’s communications business and in accordance with uses normally
                incident thereto and for no other purpose, for the term of 180 months,
                commencing on the Commencement Date (which shall be the earlier of
                the
                date Lessee first occupies any portion of the Leased Premises or
                the date
                a certificate of occupancy is issued for the Lessee’s initial occupancy),
                and ending on the 15th
                annual anniversary of the Commencement Date which is the “Expiration
                Date”. For the first five (5) years of the term the annual rental shall
                be
                $16.00 per square foot of the Leased Premises; for the second five
                (5)
                years of the term (years 6-10 inclusive) the annual rental shall
                be
                $17.50. per square foot of the Leased Premises; and for the third
                five (5)
                years of the term (years 11-15, inclusive) the annual rental shall
                be
                $19.00 per square foot of the Leased Premises; and throughout the
                term all
                rental payments shall be net of all taxes, maintenance, and insurance,
                all
                of which shall be paid by Lessee. Annual rental shall be paid by
                Lessee in
                equal monthly installments along with any and all applicable sales
                or use
                taxes.

               

            

    

    
      	1.02  	
              The
                parties acknowledge that the Leased Premises consists of 80,000 square
                feet. Beginning on the Commencement Date rental shall be based on
                40,000
                square feet until the earlier of: (i) the date Lessee occupies any
                portion
                of the remaining 40,000 square feet; or (ii) the date a certificate
                of
                occupancy is issued for Lessee’s occupancy of such remaining 40,000 square
                feet, at which time rental shall be based on 80,000 square
                feet.

               

            

    

    
      	1.03  	
              Lessee
                shall pay Lessor at such place as the Lessor shall designate from
                time to
                time in writing, the aforesaid monthly rental payments plus sales
                or use
                taxes thereon, without demand, set-off, off-set, counterclaim or
                deduction
                of any kind, each in advance due on or before the first day of each
                calendar month during aforesaid term: Rental for any portion of a
                calendar
                month shall be pro-rated on a daily ratable basis.

               

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      II

    INSURANCE
      AND INDEMNIFICATION

     

    
      	 	
              2.01

            	
              Lessee
                agrees to and shall secure at its expense from a good and responsible
                company or companies doing business in the State of Florida, and
                maintain
                during the entire term of this Lease, the following coverages all
                of which
                shall name Lessor as an additional insured:

               

            

    

    
      	(1)  	
              fire
                and extended casualty coverage insurance in an amount not less than
                one
                hundred (100%) percent of the value as determined by Lessor in its
                discretion of the Leased Premises and other improvements installed
                from
                time to time in, on or about the Leased Premises.

               

            

    

    
      	(2)  	
              Public
                liability insurance in an amount determined appropriate by the Lessor
                for
                loss from an accident resulting in bodily injury to or death of persons,
                and for loss from an accident resulting in damage to or destruction
                of
                property.

               

            

    

    
      	(3)  	
              Workers
                Compensation Insurance as and to the extent required by Florida
                law.

               

            

    

    
      	(4)  	
              Casualty
                insurance for the replacement value of Lessee’s equipment, furnishing,
                fixtures, and assets located in, on or about the Leased
                Premises.

               

            

    

    
      	2.02  	
              Lessee
                shall, on demand provide evidence of such insurance to the Lessor.
                Each of
                the policies required of the Lessee shall expressly provide that
                such
                policies shall not be canceled or altered without ten (10) days prior
                written notice to the Lessor.

               

            

    

    
      	2.03  	
              Lessee
                agrees that, in the event of loss due to any of the perils for which
                it
                has agreed to provide insurance, Lessee will look solely to its insurance
                for recovery.

               

            

    

    
      	2.04  	
              If
                the Lessee at any time during the term hereof should fail to secure
                or
                maintain the forgoing insurance, the Lessor shall be permitted to
                obtain
                such insurance on the Lessee’s name as the agent of the Lessee, and shall
                be reimbursed by the Lessee for the cost of the insurance premiums.
                The
                Lessee shall pay the Lessor interest on paid insurance premiums at
                the
                highest lawful rate, computed from the date the premiums have been
                paid
                until reimbursement to Lessor has been made.

               

            

    

    
      	2.05  	
              Proceeds
                from any policy or policies relating to coverage of the Leased Premises
                shall be payable to the Lessor, who shall use such proceeds as provided
                below.

               

            

    

    
      	(1)  	
              If
                the Leased Premises should be totally destroyed by fire, flood, or
                other
                casualty, or if they should be so damaged that rebuilding or repairs
                cannot reasonably be completed within One Hundred Twenty (120) working
                days from the date of such loss (within the Lessor’s discretion), then
                this Lease shall terminate, and rent shall be abated for the unexpired
                portion of this Lease, effective as of the date of said loss. If
                rebuilding or repairs can be reasonably completed within One Hundred
                Twenty (120) working days from the date of said loss (within the
                Lessor’s
                discretion), then the Lessor shall, within such time period, undertake
                to
                rebuild or repair the Leased Premises and other improvements to
                substantially the same condition in which they existed prior to such
                loss,
                and no adjustment for rent shall be made, unless such repair or rebuilding
                exceeds the aforesaid One Hundred Twenty (120) day period, in which
                case
                rent shall be abated on a daily ratable basis beginning on the first
                day
                after the expiration of such One Hundred Twenty (120) day period.
                If the
                Leased Premises are partially destroyed so as to render a portion
                of the
                Leased Premises untenantable (in Lessor’s discretion), then this lease
                shall not terminate and Lessor shall undertake to repair or rebuild
                such
                portion and rent shall be equitably abated for the untenantable portion
                until such repair or rebuilding is substantially complete.

               

            

    

    
      	2.06  	
              Lessor
                shall not be liable to Lessee for (i) any accident of damage caused
                by
                elevators, heating, plumbing, lighting, electrical, sewer, or other
                utility lines or fixtures, (ii) any accident, injury, or death occurring
                in connection with the Leased Premises, (iii) or thefts or losses
                of or
                damage to any goods, cash, personal effects, automobiles, or personal
                property stored or placed by Lessee, or Lessee’s employees, agents,
                visitors, licensees, or invitees, in, on, or about the Leased Premises.
                Lessee covenants and agrees to indemnify and hold Lessor harmless
                from and
                against any and all claims, damages, liabilities, obligations, expenses,
                costs, causes of action, or other injuries of every kind and every
                nature
                arising out of Lessee’s use and occupancy of the Leased Premises,
                including but not limited to full indemnification for Lessor’s attorneys
                fees and expenses, including those incurred in enforcing this
                indemnification obligation.

               

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      III

    WASTE
      AND
      NUISANCE

     

    
      	3.01  	
              Lessee
                shall not commit of suffer to be committed any waste on the Leased
                Premises, nor shall Lessee maintain, commit or permit the maintenance
                or
                condition of any nuisance on the Leased Premises or use the Leased
                Premises for any unlawful purpose or in any way other than as permitted
                by
                private and/or public regulations or restrictions.

               

            

    

    ARTICLE
      IV

    REPAIRS,
      MAINTENANCE & UTILITIES

     

    
      	4.01  	
              Lessee
                shall maintain the Leased Premises and equipment, fixtures, and
                improvements therein in a condition fit for their intended use and
                shall
                make all necessary repairs including all repairs of the Leased Premises
                and improvements in, on, or about the Leased Premises occasioned
                by
                Lessee’s use of the Leased Premises, including but not limited to
                maintenance and repair of all heating, cooling, ventilation, plumbing,
                electrical, utility and sewer systems, and all interior and exterior
                improvements (including parking lot lighting) regardless of the damages,
                condition, repair, or actions which necessitate the repair or maintenance.
                Lessor shall repair and maintain at its cost solely the roof, parking
                lot
                surface and basic structural components of the building located on
                the
                Leased Premises. All other repairs and maintenance shall be performed
                by
                Lessee at its sole cost and expense regardless of the events which
                necessitate the repair or maintenance.

               

            

    

    
      	4.02  	
              Lessee
                shall also have the following affirmative obligations:

               

            

    

    
      	(1)  	
              To
                keep the portion of the leased Premises including parking facilities
                assigned to Lessee as clean and sanitary as the condition of the
                premises
                permits.

               

            

    

    
      	(2)  	
              To
                dispose from the Leased Premises all rubbish, garbage, and other
                waste in
                a clean and sanitary manner.

               

            

    

    
      	(3)  	
              Not
                to permit any person on the premises with Lessee’s permission to willfully
                or wantonly destroy, deface, damage, impair or remove any part of
                the
                Leased Premises or the facilities, equipment, improvements, or
                appurtenances thereto.

               

            

    

    
      	(4)  	
              To
                immediately notify the Lessor of any damage or other condition of
                the
                Leased Premises or equipment or improvements therein.

               

            

    

    
      	(5)  	
              To
                pay when due any and all amounts required under any and all shared
                maintenance, easement, or license agreements to which the Leased
                Premises
                are subject.

               

            

    

    
      	(6)  	
              To
                supply the Leased Premises with all utilities required by Lessee
                for its
                occupancy and to pay any and all charges related thereto, including
                the
                installation, repair, and maintenance of all utility lines, fixtures
                and
                equipment.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      V

    ALTERATIONS,
      IMPROVEMENTS, AND FIXTURES

     

    
      	5.01  	
              Lessee
                hereby accepts the Leased Premises and the building in their present
                condition as suitable for the use intended by Lessee. Lessee shall
                not
                alter or improve the Leased Premises without the prior written consent
                of
                the Lessor, and any and all alterations, additions, improvements,
                and
                fixtures made or placed in or on said premises including floor and
                wall
                coverings, lighting fixtures, window blinds and coverings, and installed
                equipment and fixtures, shall on expiration, or sooner termination
                of this
                Lease, belong to the Lessor, without compensation to the Lessee;
                provided,
                however, that Lessor shall have the option to be exercised upon expiration
                or sooner termination of this Lease, to require Lessee to remove
                any or
                all of such additions, improvements, or fixtures. It is contemplated
                that
                Lessee shall alter, improve, remodel, and reconstruct the Leased
                Premises
                and install fixtures and equipment therein all at Lessee’s sole cost and
                expense and in a manner reasonably acceptable to Lessor for the purpose
                of
                meeting Lessee’s needs. Forty Thousand (40,000) square feet of the Leased
                Premises shall be improved by Lessee within the first two (2) years
                of the
                term and the remainder of the Leased Premises shall be improved within
                two
                (2) years thereafter. Any and all improvements constructed by Lessee
                shall
                be constructed solely through contractors, subcontractors, architects,
                engineers and similar construction service providers acceptable to
                Lessor
                all at Lessee’s sole cost and expense.

               

            

    

    
      	5.02  	
              Lessor
                shall have the right from time to time during the term or any extended
                term of this Lease to construct in or on the Leased Premises such
                buildings, improvements, equipment, fixtures, or other facilities
                as
                Lessor deems necessary or convenient for Lessor’s purposes.

               

            

    

    
      	5.03  	
              The
                parties specifically covenant and agree that the Lessee shall have
                the
                right to affix a sign, logo, or other symbol on the exterior of the
                building if the following conditions are met:

               

            

    

    
      	(1)  	
              Said
                sign, logo, or symbol is first approved in writing by the Lessor
                and
                applicable regulatory agencies; and

               

            

    

    
      	(2)  	
              Lessee
                shall, at Lessee’s expense promptly remove said sign, logo, or other
                symbol upon expiration of the lease term and repair or restore the
                exterior of the building to its original state prior to the commencement
                of the lease term.

               

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VI

    TAXES

     

    
      	6.01  	
              During
                the entire term of this lease, Lessee covenants and agrees to pay
                any and
                all special assessments, ad valorem taxes, or other charges and
                encumbrances of every kind and every nature as may be levied by any
                and
                all governmental authorities on the property described in Exhibit
                A,
                including but not limited to ad valorem real property taxes. Should
                Lessee
                fail to pay said taxes, when due, Lessor shall have the right to
                pay said
                taxes on Lessee’s behalf and Lessee shall be obligated to reimburse Lessor
                for all amounts expended by Lessor plus interest thereon at the highest
                lawful rate from the date Lessor makes such payments until Lessor
                is fully
                reimbursed by Lessee.

               

            

    

    ARTICLE
      VII

    QUIET
      POSSESSION

     

    
      	7.01  	
              Lessor
                shall on the Commencement Date of the term of this Lease place Lessee
                in
                quiet possession of the Leased Premises and shall secure the Lessee
                in the
                quiet possession thereof for the aforesaid lease term against all
                persons
                lawfully claiming possession during the aforesaid lease term.

               

            

    

    
      	7.02  	
              This
                Lease and any extensions of the term hereof is subordinate to any
                and all
                encumbrances given by Lessor to secure funds for any purpose deemed
                appropriate by Lessor and to any and all renewals, extensions,
                modifications, replacements, or refinancings thereof. This provision
                shall
                be self-operative, and no further instrument of subordination shall
                be
                required by any mortgagee or holder of any encumbrance. In confirmation
                of
                such subordination, upon Lessor’s request, Lessee shall promptly execute
                any requisite or appropriate certification or other document. In
                the event
                that any proceedings are brought for the foreclosure of any such
                mortgage
                or encumbrance, Lessee shall attorn to the purchaser at such foreclosure
                sale and shall recognize such purchaser as the lessor under this
                lease,
                and Lessee hereby waives the provisions of any right to terminate
                or
                otherwise adversely affect this lease and the obligations of Lessee
                hereunder in the event that any such foreclosure proceeding is prosecuted
                or completed. Lessee hereby covenants and agrees to promptly execute
                such
                documents as may be reasonably required to confirm the terms of this
                section 7.02.

               

            

    

    
      	7.03  	
              Lessee
                agrees at any time and from time to time, upon not less than ten
                (10) days
                written notice by Lessor to execute, acknowledge, and deliver to
                Lessor, a
                statement in writing (i) certifying that this lease is unmodified
                and in
                full force and effect, or if there have been modifications, that
                this
                lease is in full force and effect as modified and stating any such
                modifications; (ii) certifying that Lessee has accepted possession
                of the
                Leased Premises; (iii) stating that no rental amounts under this
                lease
                have been paid more than thirty (30) days in advance; (iv) stating
                the
                address to which notices to Lessee should be sent; (v) certifying
                that
                Lessee as of the date of any such certification, has no charge, lien,
                claim, or set off under this lease or otherwise against the rental
                amounts
                due hereunder; and (vi) specifying such default of Lessor, if any,
                which
                Lessee may assert.

               

            

    

    Lessee
      further agrees that it will not seek to terminate this lease by reason of any
      act or omission of Lessor until Lessee shall have given written notice of such
      act, omission, or default to any mortgagee’s of Lessor from time to
      time.

     

    
      	7.04  	
              If,
                in connection with securing financing for the Leased Premises, an
                institutional lender shall request reasonable modifications of this
                lease
                as a condition to such financing, Lessee shall not unreasonably withhold
                or delay its consent so long as such modifications do not materially
                increase the obligations of Lessee hereunder and do not materially
                adversely affect Lessee’s leasehold interest or Lessee’s use and enjoyment
                of the Leased Premises.

               

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      VIII

    POSSESSION

     

    
      	8.01  	
              If
                Lessor shall be unable for any reason whatsoever to deliver possession
                of
                the Leased Premises on the Commencement Date of the term hereof,
                Lessor
                shall not be liable to Lessee for any damage caused thereby, not
                shall
                this Lease thereby become void or voidable, not shall the term hereof
                be
                in any way extended, but in any such event, Lessee shall not be liable
                for
                any rent herein provided until such time as Lessor can and does deliver
                possession.

               

            

    

    ARTICLE
      IX

    TERMINATION
      & EXTENSION

     

    
      	9.01  	
              Lessee
                is hereby granted and shall, if not at the time in default under
                this
                Lease, have an option to extend the term of this Lease from the
                termination date hereon for an additional period of 120 months, but
                on the
                same terms, covenants, and conditions herein contained, except that
                the
                rent may be increased within Lessor’s discretion, notwithstanding any
                limitations herein.

               

            

    

    
      	9.02  	
              This
                option shall be exercised only by Lessee’s delivering to Lessor in person
                or by United States Registered or Certified Mail, written notice
                of
                Lessee’s election to extend the term of this Lease, on or before the 180
                days prior to the end of the term hereunder.

               

            

    

    
      	9.03  	
              In
                the event Lessee does not extend this Lease as herein provided and
                holds
                over beyond the expiration of the term hereof, such holding over
                shall be
                deemed a month-to-month tenancy only, at the rent herein provided,
                payable
                on the first of each and every month thereafter until the tenancy
                is
                terminated in the manner provided by law.

               

            

    

    ARTICLE
      X

    SURRENDER
      OF PREMISES

     

      10.01 
Lessee
      shall, without demand therefore and at Lessee’s own cost and expense within 3
      days after expiration or sooner termination of the term hereof, or of
      any

             extended term
      hereof, remove all property belonging to Lessee (other than fixtures or
      improvements), repair all damage to the Leased Premises caused by the Lessee,
      and  

                     restore
      the Leased Premises to the same or better condition they were in at the
      commencement of this Lease, reasonable wear and tear accepted. Any property
      not
      so

                     removed
      shall be deemed to have been abandoned by Lessee and may be retained of or
      disposed of by Lessor. Any costs or expense, including attorneys’ fees, incurred
      by

                     Lessor
      in removing such property shall be an obligation of the Lessee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      XI

    CONDEMNATION

     

    
      	11.01  	
              If,
                during the term of this Lease or any extension or renewal thereof,
                all of
                the Leased Premises should be taken for any public use under any
                law,
                ordinance, or regulation or by right of eminent domain, or should
                be sold
                to the condemning authority under threat of condemnation, this Lease
                shall
                terminate and the rent shall be abated during the unexpired portion
                of
                this Lease, effective as of the date of the taking of the said premises
                by
                the condemning authority.

               

            

    

    
      	11.02  	
              If
                less than all of the Leased Premises shall be taken for any public
                use
                under any law, ordinance or regulation, or by right of eminent domain,
                or
                should be sold to the condemning authority under threat of condemnation,
                then, at the Lessor’s sole and exclusive discretion, this Lease shall
                either terminate or the Lessor shall forthwith, at Lessor’s sole expense,
                restore and reconstruct the building and other improvements situated
                on
                the Leased Premises, provided such restoration and reconstruction
                shall
                make the same reasonably tenantable and suitable for the use for
                which the
                premises are leased, and this Lease shall not terminate. During such
                time
                as Lessee is unable to maintain possession of any portion the Leased
                Premises as a result of condemnation, the rent payable hereunder
                shall be
                equitably abated as to such portion on a daily ratable basis.

               

            

    

    ARTICLE
      XII

    DEFAULTS
      AND REMEDIES

     

    
      	12.01  	
              If
                Lessee shall allow the rent to be late more than five (5) days after
                the
                date due, or shall remain in default under any other condition of
                this
                Lease for a period of ten (10) days after written notice of such
                default
                from Lessor, or should any person other than Lessee secure possession
                of
                the premises, or any part thereof, by reason of any receivership,
                bankruptcy proceedings, or other operation of law in any manner,
                whatsoever, Lessor may its sole and exclusive option, without further
                notice to Lessee: accelerate the full rental amount due for the remaining
                term hereof in which event the full rental amount due for the remaining
                term hereof shall be immediately due and payable in full; terminate
                this
                Lease in its entirety; without terminating the lease re-enter and
                take
                possession of said premises and remove all persons and property therefrom,
                without being deemed guilty by any means of trespass, and re-let
                the
                premises or any part thereof, for all or any part of the remainder
                of the
                lease term, to a party satisfactory to Lessor, and at such monthly
                rental
                as Lessor may be able to secure; cure such default on Lessee’s behalf
                without thereby waiving such default (and Lessor’s cost in undertaking
                such cure shall bear interest at the highest lawful rate until Lessor
                is
                reimbursed in full); or exercise any other rights or remedies as
                may be
                available to Lessor under applicable law. Should Lessor take possession
                and be unable to re-let or should such monthly rental obtained on
                re-letting be less than the rental Lessee is obligated to pay hereunder,
                plus the expense of re-letting, including reasonable attorneys’ fees and
                costs of any additional improvements for such new tenant, then Lessee
                shall pay the amount of such deficiency to Lessor. It is expressly
                agreed
                that in the event of default by Lessee hereunder, Lessor shall have
                a lien
                upon all goods, chattels, or personal property of any description
                belonging to Lessee which are placed in or become a part of the Leased
                Premises, as security for rent and other obligations due and to become
                due
                for the remainder of the current lease term, which lien shall not
                be in
                lieu of or in any way affect any statutory Lessor’s lien given by law, but
                shall be cumulative thereto; and Lessee hereby grants to Lessor a
                security
                interest in all such personal property placed in said Leased Premises
                for
                such purposes. In the event of Lessor’s default, Lessor may take
                possession of all of Lessee’s property on the premises and may sell the
                same at public or private sale after giving Lessee reasonable notice
                of
                the time and place of any such sale, for cash or on credit, or for
                prices
                and terms as Lessor deems appropriate, with or without having the
                property
                present at such sale. The proceeds of such sale will be applied first
                to
                the necessary and proper expense of removing, storing, and selling
                such
                property, then to the payment of any rent due or costs or expenses
                or
                attorneys’ fees incurred by the Lessor or to be due or incurred under this
                Lease, with the balance, if any, to be paid to Lessee. All rights
                and
                remedies of Lessor under this Lease shall be cumulative, and none
                shall
                exclude any other right or
                remedy at law or equity. Such rights and remedies may be exercised
                and
                enforced concurrently and whenever and as often as occasion therefore
                arises.

               

            

    

     

    
      	12.02  	
              If
                the Lessor materially defaults in the performance of any term, covenant,
                or condition required to be performed by Lessor under this Agreement,
                Lessee shall give Lessor not less than thirty (30) days written notice
                to
                Lessor of such default and Lessor shall undertake to cure such default
                to
                the reasonable satisfaction of Lessee within said thirty (30) day
                period
                or if said cure cannot be reasonably completed within such thirty
                (30)
                days Lessor shall commence during said thirty (30) days and diligently
                pursue thereafter, a resolution of said default reasonably acceptable
                to
                Lessee.

               

            

    

    ARTICLE
      XIII

    INSPECTION

     

    
      	13.01  	
              Lessee
                shall permit Lessor and its agents to enter into and upon the Leased
                Premises at all reasonable times for the purpose of inspecting the
                same or
                for the purpose of maintaining or making repairs or alterations to
                the
                building, improvements, fixtures, or equipment therein.

               

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    ARTICLE
      XIV

    PARKING

     

    
      	14.01  	
              Lessor
                shall assign to Lessee that specified number of parking spaces as
                is
                reasonably required by Lessee for Lessee’s occupancy which spaces shall be
                located in the parking lot adjacent to the building affixed to the
                Leased
                Premises. Lessor reserves the right from time to time, to designate
                or
                specify different parking spaces from those initially assigned. Lessor
                shall have no liability with respect to automobiles or contents thereof
                parked in said parking spaces. Lessee shall adhere to and cause all
                of
                Lessee’s guests, employees, agents, invitees, and Licensees, to adhere to
                any and all parking regulations as from time to time established
                by
                Lessor. Any parking spaces not assigned to Lessee for its use and
                occupancy may be used by Lessor for any other use or purpose Lessor
                deems
                appropriate.

               

            

    

    ARTICLE
      XV

    ASSIGNMENT
      AND SUBLEASE

     

    
      	15.01  	
              Lessee
                shall not assign this Lease nor sublet all or any portion of the
                Leased
                Premises without the prior written consent of Lessor.

               

            

    

    
      	15.02  	
              Lessor
                is expressly given the right to assign any or all of its interest
                under
                the terms of this lease and upon such assignment shall have no further
                liability or obligation hereunder.

               

            

    

    ARTICLE
      XVI

    MISCELLANEOUS

     

    
      	16.01  	
              All
                notices provided to be given under this Agreement shall be given
                by
                Certified Mail or Registered Mail, addressed to the proper party,
                at the
                following address:

            

    

    Lessor’s
      Address:

    Cordova
      Associates, LLC

    Attn:
      Charles A. Emling, III

    605
      Chesapeake Dr.

    Gulf
      Breeze, FL 32561

    

    Lessee’s
      Address:

     

    NT
      Corporation

    815
      South
      Palafox Place

    Pensacola,
      FL 32501

    

    All
      notices shall be deemed given when deposited in the United States Mail,
      regardless of whether or not delivery occurs. The aforesaid address may be
      changed by either party by giving notice such change as set forth herein to
      the
      other party, provided that such notice is actually delivered.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	16.02  	
              This
                Agreement shall be binding upon and inure to the benefit of the parties
                hereto and their respective heirs, executors, administrators, legal
                representatives, successors-in-interest, and assigns when permitted
                by
                this Agreement.

               

            

    

    
      	16.03  	
              This
                Agreement shall be construed under and in accordance with the laws
                of the
                State of Florida.

               

            

    

    
      	16.04  	
              In
                case any one or more of the provisions contained in this Lease shall
                for
                any reason be held to be invalid, illegal, or unenforceable in any
                respect, such invalidity, illegality, or unenforceability shall not
                affect
                any other provision hereof, and this Lease shall be construed as
                if such
                invalid, illegal, or unenforceable provision had never been contained
                herein.

               

            

    

    
      	16.05  	
              This
                Lease Agreement constitutes the sole agreement of the parties hereto
                and
                supersedes any prior understandings or written or oral agreements
                between
                the parties respecting the subject matter contained herein.

               

            

    

    
      	16.06  	
              No
                amendment, modification, or alteration of the terms hereof shall
                be
                binding unless the same is in writing, dated subsequent to the date
                hereof, and duly executed by the parties hereto. 

               

            

    

    
      	16.07  	
              The
                rights and remedies provided by this Lease are cumulative, and the
                use of
                any one right or remedy by either party shall not preclude or waive
                its
                rights to use any or all other remedies. Such remedies are given
                in
                addition to any other rights the parties may have by law, statute,
                ordinance, equity, or otherwise.

               

            

    

    
      	16.08  	
              No
                waiver of the parties hereto of any default or breach of any term,
                condition or covenant of this Lease shall be deemed to be a waiver
                of any
                other breach of the same or any other term, condition, or covenant
                contained herein. In the event Lessee breaches any of the terms of
                this
                Agreement whereby the Lessor employs attorneys to protect or enforce
                its
                rights hereunder and prevails, then the Lessee agrees to pay to the
                Lessor
                all reasonable attorneys’ fees so incurred by the Lessor.

               

            

    

    
      	16.09  	
              Neither
                Lessor nor Lessee shall be required to perform any term, condition,
                or
                covenant in this Lease so long as such performance is delayed, prevented
                or frustrated by any acts of God, strikes, walk-outs, material or
                labor
                restrictions by any governmental authority, civil riot, floods, and
                any
                other cause not reasonably within the control of the Lessor or Lessee,
                and
                which, by the exercise of good diligence, Lessor or Lessee is unable,
                wholly or in part, to prevent or overcome.

               

            

    

    
      	16.10  	
              Time
                is of the essence of this Agreement.

               

            

    

    
      	16.11  	
              If
                Lessor shall convey title to the demised premises pursuant to a sale
                or
                exchange of said property, the Lessor shall not be liable to Lessee
                or any
                immediate or remote assignee or successor of Lessee as to any act
                or
                omission from and after such conveyance.

               

            

    

    
      	16.12  	
              RADON
                IS A NATURALLY OCCURRING RADIOACTIVE GAS THAT, WHEN IT HAS ACCUMULATED
                IN
                A BUILDING IN SUFFICIENT QUANTITIES, MAY PRESENT HEALTH RISKS TO
                PERSONS
                WHO ARE EXPOSED TO IT OVER TIME. LEVELS OF RADON THAT EXCEED FEDERAL
                AND
                STATE GUIDELINES HAVE BEEN FOUND IN BUILDINGS IN FLORIDA. ADDITIONAL
                INFORMATION REGARDING RADON AND RADON TESTING MAY BE OBTAINED FROM
                YOUR
                COUNTY HEATH UNIT.

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    IN
      WITNESS WHEREOF, the undersigned Lessor and Lessee hereto have executed this
      Agreement as of the date first written above.

    

    
      	
               

               

               

               

              Witness

              Print
                Name Susan Forehand

               

               

               

              Witness

              Print
                Name Stephanie Oberhausen

               

               

               

              Witness

              Print
                Name Matthew Durney

               

               

               

              Witness

              Print
                Name Susan Forehand

            	
              LESSOR:

               

              CORDOVA
                ASSOCIATES, LLC.

               

              By:
                /s/ Charles A. Emling, III

              CHARLES
                A. EMLING, III

              Managing
                Member

               

               

               

               

               

              LESSEE:

               

              NT
                CORPORATION

               

              By:
                /s/ Ray Russenberger

              Ray
                D. Russenberger, President

            

    

    

    

    STATE
      OF
      FLORIDA

    COUNTY
      OF
      ESCAMBIA

    

    The
      foregoing instrument was acknowledged before me this 7th day of September,
      2000, by CHARLES A. EMLING, III, as its Managing Member of CORDOVA ASSOCIATES,
      LLC, who ( ) is personally known to me or ( ) has produced a driver’s license as
      identification and has not taken an oath.

    

                                          
/s/
      Susan Forehand

    NOTARY
      PUBLIC-STATE OF FLORIDA

    Commission
      No.: CC707094

    Expiration
      Date: 2-6-02

    

    

    STATE
      OF
      FLORIDA

    COUNTY
      OF
      ESCAMBIA

    

    The
      foregoing instrument was acknowledged before me this 7th day of September,
      2000, by Ray D. Russenberger, as President of NT Corporation, and who ( ) is
      personally known to me or ( ) has produced a driver’s license as identification
      and has not taken an oath.

    

                                            /s/
      Susan Forehand
      NOTARY
        PUBLIC-STATE OF FLORIDA

      Commission
        No.: CC707094

      Expiration
        Date: 2-6-02

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