Document:

exv10w12

Exhibit 10.12

FXCM INC.

2010 LONG-TERM INCENTIVE PLAN

FORM OF

NON-QUALIFIED STOCK OPTION AGREEMENT

(Non-Employee Directors)

     THIS AGREEMENT (the “Agreement”), is made effective as of the date set forth on the
signature page hereto (the “Date of Grant”), between FXCM Inc. (the “Company”) and
the individual named on the signature page hereto (the “Participant”).

R E C I T A L S:

     WHEREAS, the Company has adopted the Plan (as defined below), the terms of which are hereby
incorporated by reference and made a part of this Agreement; and

     WHEREAS, the Committee (as defined in the Plan) has determined that it would be in the best
interests of the Company and its stockholders to grant the Option (as defined below) provided for
herein to the Participant pursuant to the Plan and the terms set forth herein.

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties
agree as follows:

     1. Definitions. Whenever the following terms are used in this Agreement, they shall have the
meanings set forth below. Capitalized terms not otherwise defined herein shall have the same
meanings as in the Plan.

     (a) Company Group: The Company and its Subsidiaries.

     (b) Expiration Date: The seventh anniversary of the Date of Grant.

     (c) Option: The Option with respect to which the terms and conditions are set forth in
Section 3 of this Agreement.

     (d) Plan: The FXCM Inc. 2010 Long-Term Incentive Plan, as it may be amended or
supplemented from time to time.

     (e) Vested Portion: At any time, the portion of the Option which has become vested, as
described in Section 3 of this Agreement.

     2. Grant of the Option. The Company hereby grants to the Participant the right and option to
purchase, on the terms and conditions hereinafter set forth, all or any part of the number of
Shares subject to the Option set forth on the signature page hereto, subject to adjustment as set
forth in the Plan. The Option Price shall be as set forth on the signature page hereto. The Option
is intended to be a nonqualified stock option, and is not intended to be treated as an incentive
stock option that complies with Section 422 of the Code.

 

 

     3. Vesting of the Option.

     (a) Subject to the Participant’s continued Employment through the applicable vesting date, the
Option shall vest and become exercisable at the time set forth on the signature page hereto.

     (b) Termination of Employment. If the Participant’s Employment terminates for any
reason, the Option, to the extent not then vested and exercisable, shall be immediately canceled by
the Company without consideration. Notwithstanding anything to the contrary in this Agreement, (x)
in the event of a Change in Control, the Option shall, to the extent not then vested or previously
forfeited or cancelled, become fully vested and exercisable effective as of immediately prior to
the occurrence of such Change in Control and (y) in the event of the termination of the
Participant’s Employment due to death or Disability, the Option shall, to the extent not then
vested or previously forfeited or cancelled, become fully vested and exercisable effective as of
the termination date.

     4. Exercise of the Option..

     (a) Period of Exercise. Subject to the provisions of the Plan and this Agreement, the
Participant may exercise all or any part of the Vested Portion of the Option at any time prior to
the Expiration Date. Notwithstanding the foregoing, at any time prior to the Expiration Date, the
Vested Portion of the Option shall only remain exercisable for the period set forth below with
respect to the particular event:

     (i) Termination due to Death, Disability or in Connection with a Change in
Control. If the Participant’s Employment terminates (x) due to the Participant’s death
or Disability or (y) in connection with a Change in Control, in each case, the Participant
may exercise the Vested Portion of the Option for a period ending on the earlier of (A) one
year following such termination of Employment and (B) the Expiration Date; and

     (ii) Termination of Employment for any Other Reason. If the Participant’s
Employment terminates other than (x) due to death or Disability or (y) in connection with a
Change in Control, the Participant may exercise the Vested Portion of the Option for a
period ending on the earlier of (A) 30 days following such termination of Employment and (B)
the Expiration Date.

     (b) Method of Exercise.

     (i) Subject to Section 4(a) of this Agreement and any administrative procedures that
may be established by the Company, the Vested Portion of the Option may be exercised by
delivering to the Company at its principal office written notice of intent to so exercise;
provided that the Option may be exercised with respect to whole Shares only. Such
notice shall specify the number of Shares for which the Option is being exercised and shall
be accompanied by payment in full of the Option Price. The payment of the Option Price may
be made at the election of the Participant (i) in cash or its equivalent (e.g., by check),
(ii) to the extent permitted by the Committee, in Shares having a Fair Market Value equal to
the aggregate Option Price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee;

 

 

provided, that such Shares have been held by the Participant for more than six months
(or such other period as established from time to time by the Committee in order to avoid
adverse accounting treatment applying generally accepted accounting principles), (iii)
partly in cash and, to the extent permitted by the Committee, partly in such Shares, (iv) if
there is a public market for the Shares at such time, to the extent permitted by, and
subject to such rules as may be established by the Committee, through the delivery of
irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option
and to deliver promptly to the Company an amount out of the proceeds of such sale equal to
the aggregate Option Price for the Shares being purchased, or (v) to the extent permitted by
the Committee, using a net settlement mechanism whereby the number of Shares delivered upon
the exercise of the Option will be reduced by a number of Shares that has a Fair Market
Value equal to the Option Price. The Participant shall not have any rights to dividends or
other rights of a stockholder with respect to Shares subject to the Option until the
Participant has given written notice of exercise of the Option, paid in full for such Shares
and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to
the Plan.

     (ii) Notwithstanding any other provision of the Plan or this Agreement to the contrary,
the Option may not be exercised prior to the completion of any registration or qualification
of the Option or the Shares under applicable state and federal securities or other laws, or
under any ruling or regulation of any governmental body or national securities exchange that
the Committee shall in its sole discretion determine to be necessary or advisable.

     (iii) Upon the Company’s determination that the Option has been validly exercised as to
any of the Shares, the Company may issue certificates in the Participant’s name for such
Shares. However, the Company shall not be liable to the Participant for damages relating to
any delays in issuing the certificates, if any, to the Participant, any loss by the
Participant of any certificates, or any mistakes or errors in the issuance of any
certificates or in the certificates themselves, if any. Notwithstanding the foregoing, the
Company may elect to recognize the Participant’s ownership through uncertificated book
entry.

     (iv) In the event of the Participant’s death, the Vested Portion of the Option shall
remain exercisable by the Participant’s executor or administrator, or the person or persons
to whom the Participant’s rights under this Agreement shall pass by will or by the laws of
descent and distribution as the case may be, to the extent set forth in Section 4(a) of this
Agreement. Any heir or legatee of the Participant shall take rights herein granted subject
to the terms and conditions hereof.

     5. No Right to Continued Employment. Neither the Plan nor this Agreement shall be construed
as giving the Participant the right to be retained in the employ of, or in any consulting
relationship to, any entity that is a member of the Company Group. Further, any entity that is a
member of the Company Group may at any time dismiss the Participant or discontinue any consulting
relationship, free from any liability or any claim under the Plan or this Agreement, except as
otherwise expressly provided herein.

 

 

     6. Legend on Certificates. To the extent applicable, all certificates (or book entries)
representing the Shares purchased by exercise of the Option shall be subject to the rules,
regulations, and other requirements of the Securities and Exchange Commission, any stock exchange
upon which such Shares are listed, and any applicable federal or state laws, and the Committee may
cause a legend or legends to be put on any such certificates (or notations made next to the book
entries) to make appropriate reference to such restrictions.

     7. Transferability. The Option may not be assigned, alienated, pledged, attached, sold or
otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of
descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale,
transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate;
provided that the designation of a beneficiary shall not constitute an assignment,
alienation, pledge, attachment, sale, transfer or encumbrance. No such permitted transfer of the
Option to heirs or legatees of the Participant shall be effective to bind the Company unless the
Committee shall have been furnished with written notice thereof and a copy of such evidence as the
Committee may deem necessary to establish the validity of the transfer and the acceptance by the
transferee or transferees of the terms and conditions thereof. During the Participant’s lifetime,
the Option is exercisable only by the Participant.

     8. Withholding. The Participant may be required to pay to any entity that is a member of the
Company Group and any entity that is a member of the Company Group shall have the right and is
authorized to withhold any applicable withholding or other taxes in respect of the Option, its
exercise, or any payment or transfer under or with respect to the Option and to take such other
action as may be necessary in the opinion of the Committee to satisfy all obligations for the
payment of such withholding or other taxes. The Participant may elect to pay any or all of such
withholding or other taxes as provided in Section 4(c) of the Plan.

     9. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of the
Option, the Participant will make or enter into such written representations, warranties and
agreements as the Committee may reasonably request in order to comply with applicable securities
laws or with this Agreement.

     10. Notices. Any notice under this Agreement shall be addressed to the Company in care of its
General Counsel, each copy addressed to the principal executive office of the Company and to the
Participant at the address appearing in the personnel records of the Company for the Participant or
to either party at such other address as either party hereto may hereafter designate in writing to
the other. Any such notice shall be deemed effective upon receipt thereof by the addressee.

     11. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the state of Delaware without regard to conflicts of laws.

     12. Amendment. This Agreement may be amended only by a written instrument executed by the
parties hereto, which specifically states that it is amending this Agreement.

 

 

     13. Option Subject to Plan. By entering into this Agreement the Participant agrees and
acknowledges that the Participant has received and read a copy of the Plan. The Option is subject
to the Plan. The terms and provisions of the Plan, as they may be amended from time to time, are
hereby incorporated by reference. In the event of a conflict between any term or provision
contained herein and a term or provision of the Plan, the applicable terms and provisions of the
Plan will govern and prevail.

     14. Severability. In the event that any one or more of the provisions of this Agreement shall
be or become invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement shall not be affected thereby.

     15. Signature in Counterparts. This Agreement may be signed in counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the
same instrument.

[The remainder of this page intentionally left blank.]

 

 

IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto.

	 	 	 	 	 

	 	 	FXCM INC.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Its	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	[NAME OF PARTICIPANT]
	 
	 	 	 	 
	 	 	 

The Date of Grant is ______________.

The number of Shares subject to the Option is __________.

The Option Price shall be $_________ per Share.

Subject to the Participant’s continued Employment through the applicable vesting date, the Option
shall vest and become exercisable with respect to one hundred percent (100%) of the Shares subject
to such Option on the first anniversary of the Date of Grant.

Signature Page to Non-Qualified Stock Option Agreement (Non-Employee Directors) — ___, 2010exv10w1

Exhibit 10.1

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT entered into this 13th day of August, 2010 and is effective as of
January 1, 2010 (the “Effective Date”) by and between T3 Motion Inc., a Delaware
Corporation (the “Company”), with offices located at 2990 Airway Ave., Ste A, Costa Mesa,
CA 92626 and Ki Nam, an individual (the “Executive”).

W I T N E S S E T H:

     WHEREAS, the Company is engaged or plans to engage in a business that includes the design,
manufacture, marketing, distribution and sale of electric vehicles, power management systems, and
batteries to security, law enforcement, government and consumer sectors (the “Business”);
and

     WHEREAS, the Company desires to employ the Executive as Chief Executive Officer, and desires
to provide him with compensation and other benefits on the terms and conditions set forth in this
Agreement; and

     WHEREAS, the Executive wishes to accept such employment and perform services for the Company
on the terms and conditions hereinafter set forth;

     NOW, THEREFORE, it is hereby agreed by and between the parties as follows:

     1. Employment.

          1.1 Subject to the terms and conditions of this Agreement, the Company agrees to employ
Executive during the term hereof as its Chief Executive Officer.

          1.2 Subject to the terms and conditions of this Agreement, Executive hereby accepts employment
as Chief Executive Officer of the Company and agrees to devote his full working time and efforts,
to the best of his ability, experience and talent, to the performance of services, duties and
responsibilities in connection therewith.

     2. Term. Executive’s term of employment under this Agreement (the “Term”) shall commence on
the Effective Date and, subject to Section 5, shall continue until December 30, 2011. Thereafter,
this Agreement shall automatically renew, annually, upon the terms and conditions set forth herein
unless terminated by either party by written notice 60 days prior to the expiration of the then
term. The last day of the Executive’s employment under this Agreement is hereinafter referred to as
the “Termination Date” or “Date of Termination”.

     3. Compensation.

          3.1 Salary. For the period of one year commencing on January 1, 2010, the Company shall pay
Executive a Base Salary at the rate of One Hundred Ninety Thousand Dollars ($190,000.00) per annum,
pro-rated with respect to the first and last

 

 

months of the Term in the event that the Term does not commence or end on the first day of a
calendar month.. Base Salary shall be payable in accordance with the ordinary payroll practices of
the Company, but no less frequently than semi-monthly. Unless this Agreement is terminated,
extended or a new Agreement is negotiated, at the end of 2010, the Base Salary shall remain
unchanged.

          3.2 Bonus. As an inducement to the Executive, during the Term of this Agreement and any
renewal or extension period thereafter, the Executive shall be entitled to receive, on March 15 of
each calendar year, an annual Bonus of up to a number pursuant to the terms of the “Executive Bonus
Plan,” which is a weighted formula based upon the approved Budget by the Company’s Board of
Directors and/or its Compensation Committee (“Target Bonus”).

If the Board determines that the Company does not have sufficient cash available to make the above
described cash obligations, the Board shall have the right to make such payments in stock, but at
no time shall the cash payment due under the cash obligation fall below one third of the payment
obligation.

          3.3 Compensation Plans and Programs. Executive shall be eligible to participate in any
Compensation Plan or Program (401(k) Plan and Stock Option Plan) maintained by the Company in which
other Executives or employees of the Company participate, on similar terms.

          3.4 Loans. Under no circumstances may the Executive, directly or indirectly, receive a Loan
from the Company, of any kind or fashion, or of any duration, whatsoever.

     4. Employee Benefits.

          4.1 Medical, Dental and Vision Benefit Plans. The Company shall provide to the Executive and
his family, during the Term of his employment, or any renewal or extension thereafter, with
coverage under all Employee medical, dental and vision benefit programs, plans or practices adopted
by the Company and made available to all employees of the Company.

          4.2 Life and Disability Insurance Benefit Plans. The Company shall provide Executive during
the Term of his employment, or any renewal or extension thereafter, with coverage under all
Employee life insurance and disability insurance plans as may be adopted and in effect by the
Company and made available to all employees of the Company.

          4.3 Vacation Benefit. The Executive shall be entitled to four (4) weeks paid vacation in each
calendar year (but no more than ten 10 consecutive business days at any given time), which shall be
taken at such times as are consistent with Executive’s responsibilities hereunder. The Executive’s
vacation schedule shall be submitted and approved by the Company. The Executive shall at no time
have accrued more than four (4) weeks vacation.

2

 

          4.4 Expenses. The Executive is authorized to incur reasonable expenses in carrying out his
duties and responsibilities under this Agreement, including expenses for travel, automobile
(mileage reimbursement calculated at the Internal Revenue Service’s prevailing rates) and similar
items related to such duties and responsibilities. The Company will reimburse Executive for all
such expenses upon presentation by Executive on a monthly basis of appropriately itemized and
approved (consistent with the Company’s policy and Board determined expenditure caps) accounts of
such expenditures.

     5. Termination of Employment.

          The Company may terminate Executive’s employment at any time for any reason.

          5.1 Termination Not for Cause. If Executive’s employment is terminated by the Company other
than for Cause (as defined in Section 5.2, below), Executive shall receive a severance payment
equal to twelve (12) months’ Base Salary and twelve (12) months’ benefits, and any earned and/or
accrued Bonus, as in effect immediately prior to such termination, payable in accordance with the
ordinary payroll practices of the Company, but not less frequently than semi-monthly following such
termination of employment. The Company’s severance payment obligations under this Section 5 shall
immediately cease in the event the Executive breaches Sections 7 or 8 of this Agreement. For
purposes of this Agreement, “Change in Control” shall have the meaning set forth in
Section 5.3.

          5.2 Termination for Cause; Voluntary Termination by Executive; Death or Disability.

               A) For purposes of this Agreement, “Cause” shall mean any of the following:

                    (i) Willful malfeasance or willful misconduct by Executive in connection with his employment;

                    (ii) Continual refusal by Executive to perform his duties hereunder or any lawful direction of
the Board of Directors of the Company within ten (10) days after notice of such refusal to perform
such duties or direction was given to the Executive;

                    (iii) Any breach of the provisions of Sections 7 or 8 of this Agreement by Executive or any
other material breach of this Agreement by Executive; or

                    (iv) The commission and conviction by Executive of (a) any felony, or (b) a misdemeanor
involving moral turpitude, including but not limited to the Executive’s abuse of drugs and alcohol.

3

 

               B) For purposes of this Agreement, “Permanent Disability” shall mean a disability that
would entitle Executive to receive benefits under the Company’s long-term disability plan as in
effect from time to time or which prevents the Executive from performing his duties hereunder for
one hundred eighty (180) consecutive days or more.

               C) In the event that Executive’s employment is terminated (i) by the Company for Cause; (ii)
by the Executive on a voluntary basis; (iii) as a result of the Executive’s Permanent Disability;
or (iv) by the Executive’s death, then Executive or his Estate shall only be entitled to receive
Base Salary and Bonuses already earned and accrued through the Termination Date.

In the event of termination by the Executive’s death or Permanent Disability, all such benefits
identified herein shall be maintained and in effect for six (6) additional months by the Company.
Any and all such unvested benefits (i.e. 401(k), restricted stock or stock options) shall
immediately vest. After the termination of Executive’s employment under this Section 5.2 and
payment of all amounts due to Executive under the terms of this Agreement, the obligations of the
Company under this Agreement to make any further payments, or provide any benefits specified herein
(other than benefits required to be provided by applicable law or under the terms of any employee
benefit of the Company in which the Executive was a participant) to Executive shall thereupon cease
and terminate. Termination of the Executive pursuant to this Section 5.2 shall be made by delivery
to Executive of a Notice from the Board of Directors of the Company.

     5.3 Change of Control.

If Executive’s employment with the Company is terminated by the Company (other than upon the
expiration of the Employment Terms, for Cause, or by reason of Disability, or upon Executive’s
death) at any time within ninety (90) days before, or within twelve (12) months after, a Change in
Control (as defined below), or if the Executive’s employment with the Company is terminated by the
Executive for Good Reason within six (6) months after a Change in Control, or if the Executive’s
employment with the Company is terminated by the Executive for any reason, including without Good
Reason, during the period commencing six (6) months after a Change in Control and ending twelve
(12) months after a Change in Control, then the Company shall pay to the Executive: (i) any
accrued, unpaid base salary payable under Section 3.1 as in effect on the Date of Termination, (ii)
any unreimbursed business expenses under Section 3.2 and (iii) a severance benefit, in a lump sum
cash payment, in an amount equal to: (A) the Executive’s annual rate of base salary, as in effect
as of the Date of Termination, plus the Executive’s Target Bonus for the fiscal year of the Company
in which the Date of Termination occurs. The severance benefit under paragraph (iii) shall be paid
not later than sixty (60) days after the Date of Termination (subject to Section 9), provided that
the Executive executes and delivers to the Company, and any revocation period required by law has
lapsed and the Executive has not revoked, a general release of claims in a form acceptable to the
Company in its sole and absolute discretion, and the Executive is not in material breach of any of
the provisions of this Agreement. The Company shall provide

4

 

Executive with a general release of claims in a form acceptable to the Company not later than one
week following the Date of Termination.

For purposes of this Agreement, “Good Reason” means the occurrence of any of the following, without
Executive’s express written consent:

(i) A material reduction in Executive’s base salary;

(ii) A material reduction in Executive’s authority, duties or responsibilities;

(iii) A material relocation of Executive’s primary place of employment, provided however,
that in no instance will such a relocation be deemed material if it is less than fifty (50)
miles from the Company’s location at which Executive performs most of his services
immediately prior to such relocation; or

(iv) A material breach by the Company of any of its obligations under this Agreement;

provided that Executive notifies the Company in writing of such event within 30 days of its
occurrence and further provides the Company thirty (30) days to remedy the situation before
terminating his employment no more than ninety (90) days after such occurrence.

     (a) Accelerated Vesting of Options and Restricted Stock. In the event the Executive is
entitled to the severance benefits pursuant to Section 5.3, each stock option exercisable for
shares of Company Common Stock granted under the Company’s stock incentive plan that is held by the
Executive, if then outstanding, shall become immediately vested and exercisable with respect to all
of the shares of Company Common Stock subject thereto on the Date of Termination and shall be
exercisable in accordance with the provisions of the Company’s stock incentive plan and option
agreement pursuant to which such option was granted. In addition, in the event the Executive is
entitled to severance benefits, a restricted stock award and restricted shares of the Company
Common Stock granted under the Company’s stock incentive plan that is held by the Executive that is
subject to a forfeiture, reacquisition or repurchase option held by the Company shall become fully
vested, nonforfeitable and no longer subject to reacquisition or repurchase by the Company or other
restrictions on the Date of Termination.

     (b) “Change in Control” means the occurrence of any of the following events occurring
after the Effective Date:

     (c) a Person directly or indirectly becomes the “beneficial owner” (as such term is defined in
Rule 13d-3 and Rule 13d-5 under the Securities Exchange Act of 1934) of more than thirty-three
percent (33%) of the total voting power of the total outstanding voting securities of the Company
on a fully diluted basis, excluding from such calculation the voting securities beneficially owned
by such Person as of the Effective Date;

     (d) a Person directly or indirectly acquires all or substantially all of the assets and
business of the Company;

5

 

     (e) the consummation by the Company (whether directly involving the Company or indirectly
involving the Company through one or more intermediaries) of (x) a merger, consolidation,
reorganization, or business combination or (y) the acquisition of assets or stock of another
entity, in each case, other than a transaction which results in the Company’s voting securities
outstanding immediately before the transaction continuing to represent (either by remaining
outstanding or by being converted into voting securities of the entity or the person that, as a
result of the transaction, controls, directly or indirectly, the Company or owns, directly or
indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business
of the Company (the Company or such person, the “Successor Entity”)) directly or
indirectly, at least thirty five percent (35%) of the combined voting power of the Successor
Entity’s outstanding voting securities immediately after the transaction.

     6. No
Conflicts of Interest.

          The Executive shall not, directly or indirectly, engage or become interested in any other
business, whether or not such business is competitive with the business of the Company, during the
period of the Executive’s employment hereunder, or any renewals or extensions thereof.

     7. Nondisclosure
of Confidential Information.

          The Executive shall not, without the prior written consent of the Company, use, divulge,
disclose or make accessible to any other Person, any Confidential Information pertaining to the
business or affairs of the Company, except (i) while employed by the Company, in the business of
and for the benefit of the Company, or (ii) when required to do so by a court of competent
jurisdiction, by any governmental agency having supervisory authority over the business of the
Company, or by any administrative body or legislative body (including a committee thereof) with
jurisdiction to order the Executive to divulge, disclose or make accessible such information.

For purposes of this Section 7, “Confidential Information” shall mean non-public
information concerning financial data, strategic business plans, sales or marketing plans, or other
proprietary marketing data, proprietary information, contracts or agreements with customers,
vendors or consultants, and all other non-public, proprietary and confidential information of the
Company that in any case is not otherwise available to the public (other than by the Executive’s
breach of the terms hereof).

     8. Restrictive Covenants.

          8.1 Non-Solicitation.

               A) In consideration of the Executive’s employment with the Company, his participation in any
stock, bonus or other incentive compensation plans of the Company, which the Executive acknowledges
is of direct benefit to herself, the Executive hereby covenants that, during the period commencing
on the date hereof and ending on the two (2) year anniversary of the Termination Date (the
“Restricted Period”),

6

 

the Executive and his Affiliates (as defined herein) shall not directly or indirectly, through
any other Person, (i) employ, solicit or induce any individual who is, or was at any time during
the one (1) year period prior to the Termination Date, an employee or consultant of the Company,
(ii) cause such individual to terminate or refrain from renewing or extending his employment by or
consulting relationship with the Company, or (iii) cause such individual to become employed by or
enter into a consulting relationship with the Company and its Affiliates or any other individual,
Person or entity.

               B) In consideration of the Executive’s employment with the Company, his participation in any
stock, bonus or other incentive compensation plans of the Company, which the Executive acknowledges
is of direct benefit to herself, the Executive hereby covenants that, during the Restricted Period,
the Executive and his Affiliates shall not directly or indirectly through any other Person,
solicit, persuade or induce any Customer to terminate, reduce or refrain from renewing or extending
its contractual or other relationship with the Company in regard to the purchase of products or
services, performed, manufactured, marketed or sold by the Company or any other Person in regard to
the purchase of products or services similar or identical to those performed, manufactured,
marketed or sold, by the Company. For purposes hereof, “Customer” means any individual,
Person or entity which is a customer of the Company or which was a customer of the Company within
one (1) year prior to the Termination Date.

               C) In consideration of the Executive’s employment with the Company, his participation in any
stock, bonus or other incentive compensation plans of the Company, which the Executive acknowledges
is of direct benefit to herself, the Executive hereby covenants that, during the Restricted Period,
the Executive and his Affiliates shall not directly or indirectly through any other Person,
solicit, persuade or induce any Supplier to terminate, reduce or refrain from renewing or extending
his, her or its contractual or other relationship with the Company, directly or indirectly in
regard to the sale of products or services similar or identical to those performed, manufactured,
marketed, sold or purchased by the Company. For purposes hereof, “Supplier” shall mean any
individual, Person or entity which is a supplier of any product or service to the Company or which
was a supplier to the Company within one (1) year prior to the Termination Date.

          8.2 Non-Compete. In consideration for the Executive’s employment with the Company, his
participation in any stock, bonus or other incentive compensation plans of the Company, which the
Executive acknowledges is of direct benefit to herself the receipt and sufficiency of which is
hereby acknowledged, the Executive hereby covenants that, during the term of his Employment, the
Executive shall not directly or indirectly, in his, own capacity or through one or more Affiliates,
whether as owner, consultant, executive, partner, member, manager, officer, director, venturer,
agent, through stock ownership, investment of capital, lending of money or property, rendering of
services, or otherwise, engage or assist others to engage in the Business in the Territory;
provided, that the Executive may own up to three (3%) percent of the outstanding shares of
a company engaged in such Business if such shares are listed on national securities exchange.

7

 

          8.3 Non-Disparagement. The Executive agrees that neither the Executive nor any of his
Affiliates shall (i) in any way publicly disparage the Company, its equity holders, officers,
directors, employees, agents or Affiliates, (ii) cause embarrassment or public humiliation to such
Persons, or (iii) make any public statement that is adverse, inimical or otherwise detrimental to
the interests of any such Persons or the Business at any time, including without limitation, during
periods after the termination of this Agreement.

          8.4 Certain Definitions. The following terms shall have the following meanings when used in
this Agreement:

               A) “Affiliate” means, as to any Person, a Person that directly, or indirectly through
one or more intermediaries, controls or is controlled by, or is under common control with, the
Person specified. With respect to any natural Person, the term Affiliate shall also include any
member of said Person’s immediate family, any family limited partnership or similar entity for said
Person and any trust, voting or otherwise, of which said Person is a trustee or of which said
Person or any of said Person’s immediate family is a beneficiary. With respect to any trust, the
term Affiliate shall also include any beneficiary or trustee of such trust. For purposes of the
foregoing, the term “control” and variations thereof means the possession of the power to direct or
cause the direction of the management or policies of a Person, whether through the ownership of
voting securities, by contract or otherwise.

               B) “Territory” means Global.

     9. Specific
Performance

     Since the Company will be irreparably damaged if the provisions of Sections 6, 7 and 8 hereof
are not specifically enforced, the Company shall be entitled to an injunction restraining any
violation of this Agreement by the Executive (without any bond or other security being required),
or any other appropriate decree of specific performance. Such remedies shall not be exclusive and
shall be in addition to any other remedy which the Company may have.

     10. Tax Matters.

          10.1 All payments of “nonqualified deferred compensation” (within the meaning of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations
promulgated thereunder (“Section 409A”)) by the Company to the Executive are intended to
comply with the requirements of Section 409A, and shall be interpreted consistent therewith.
Neither the Company nor the Executive, individually or in combination, may accelerate any such
deferred payment, except in compliance with Section 409A, and no amount shall be paid prior to the
earliest date on which it is permitted to be paid under Section 409A. Notwithstanding anything
herein to the contrary, no amendment may be made to this Agreement if it would cause the Agreement
or any payment hereunder to not be in compliance with the requirements of Section 409A. However,
the terms set forth in this Agreement may be reformed to the extent

8

 

necessary to comply with Section 409A, while preserving to the extent practicable the intended
treatment of the original Agreement.

          10.2 In the event that the severance and other benefits provided for in this Agreement or
otherwise payable to Executive by the Company (i) constitute “parachute payments” within the
meaning of Section 280G of the Code, and (ii) would be subject to the excise tax imposed by Section
4999 of the Code (the “Excise Tax”), then Executive’s benefits under this Agreement shall
be reduced as to such lesser extent as would result in no portion of such benefits and payments
being subject to the Excise Tax.

          10.3 Unless the Company and Executive otherwise agree in writing, any determination required
under this Section 10 shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Executive and the
Company for all purposes. For purposes of making the calculations required by this Section 10, the
Accountants may make reasonable assumptions and approximations concerning applicable taxes and may
rely on reasonable, good faith interpretations concerning the application of Section 280G and 4999
of the Code. The Company and Executive shall furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this
Section 10. The Company shall bear all costs the Accountants may reasonably incur in connection
with any calculations contemplated by this Section 10.

     11. Notices.

     All notices or communications hereunder shall be in writing, addressed as follows:

	 	 	 

	 

	 	To the Company:
	 
	 	 
	 

	 	T3 Motion Inc.
	 

	 	2990 Airway Ave, St A
	 

	 	Costa Mesa, CA 92626
	 
	 	 
	 

	 	To the Executive:
	 
	 	 
	 

	 	Ki Nam
	 

	 	78 Linda Isle Dr
	 

	 	Newport Beach CA 92660

Any such notice or communication shall be delivered by hand or by courier or sent certified or
registered mail, return receipt requested, postage prepaid, addressed as above (or to such other
address as such party may designate in a notice duly delivered as described above), and the third
business day after the actual date of mailing shall constitute the time at which notice was given.

9

 

     12. Waiver.

     The failure of a party to insist upon strict adherence to any term of this Agreement on any
occasion shall not operate or be construed as a Waiver of the right to insist upon strict adherence
to that term or any other term of this Agreement or any other occasion. Any Waiver must be in
writing with proper notice given as per Section 10, above.

     13. Separability.

     If any provision of this Agreement shall be declared to be invalid or unenforceable, in whole
or in part, such invalidity or unenforceability shall not affect the remaining provisions hereof,
which shall remain in full force and effect.

     14. Assignment.

     This Agreement shall be binding upon and inure to the benefit of the heirs and representatives
of Executive and the assigns and successors of the Company, but neither this Agreement nor any
rights or obligations hereunder shall be assignable or otherwise subject to hypothecation by
Executive (except by will or by operation of the laws of intestate succession) or by the Company,
except that the Company may assign this Agreement to any successor (whether by merger, purchase or
otherwise) of all or substantially all of the stock, assets or businesses of the Company, if such
successor expressly agrees to assume the obligations of the Company hereunder.

     15. Amendment.

     This Agreement may only be changed, modified or amended by written agreement of the parties
hereto. Any alleged oral modifications or amendments shall be deemed null and void.

     16. Beneficiaries; References.

     The Executive shall be entitled to select (and change to the extent permitted under applicable
law) a beneficiary or beneficiaries to receive any compensation or benefit payable hereunder
following the Executive’s death, and may change such election, in either case by giving the Company
written notice thereof. In the event of the Executive’s death or a judicial determination of his
incompetence, reference in this Agreement to the Executive shall be deemed, where appropriate, to
refer to his beneficiary, estate or other legal representative. Any reference to the masculine
gender in this Agreement shall include, where appropriate, the feminine.

     17. Survival.

     Notwithstanding the termination of the Executive’s employment hereunder, the provisions hereof
shall, unless the context otherwise requires, survive such termination.

10

 

     18. Complete Agreement.

     This Agreement contains the entire understanding between the parties and is intended to be
the complete and exclusive statement of the terms and conditions of the agreement between the
parties and supersedes in all respects any prior agreement or understanding between the Company and
the Executive as to employment matters.

     19. Withholding.

     The Company shall be entitled to withhold from payment to the Executive, any amount of
withholding required by law.

     20. Governing Law.

     This Agreement shall be construed, interpreted and governed in accordance with the laws of the
State of California, without reference to rules relating to conflicts of law.

     21. Counterparts.

          This Agreement may be executed in two or more counterparts, each of which will be deemed an
original.

[remainder of the page left intentionally blank]

11

 

     IN WITNESS WHEREOF, the parties have caused this Employment Agreement to be duly executed as
of the date first above written.

	 	 	 
	T3 Motion Inc	 	EXECUTIVE
	 
	 	 
	 
	 	 
	 

	 	 
	By: Kelly Anderson, Chief Financial Officer

	 	Ki Nam

12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]