Document:

WilkinOCC2ndAmendtoAmendandRestateEmplymtAgrmt

SECOND AMENDMENT TO 
OPTICAL CABLE CORPORATION EMPLOYMENT AGREEMENT

THIS SECOND AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Amendment") is made and entered into as of the 14th day of March, 2014, by and between Optical Cable Corporation, a Virginia corporation, hereinafter called the "Corporation", and Neil D. Wilkin, Jr., hereinafter called the "Executive", and provides as follows:
WHEREAS, the Corporation and Executive entered into an Amended and Restated Employment Agreement as of the eleventh day of April, 2011, setting forth certain terms and conditions of Executive's continued employment by the Corporation (the "Amended and Restated Employment Agreement");
WHEREAS, the Amended and Restated Employment Agreement was amended as of December 18, 2012 in certain respects to comply with the requirements of Section 409A of the Internal Revenue Code and the regulations promulgated thereunder (the "Amendment");
WHEREAS, the Amended and Restated Employment Agreement must be further amended in certain respects to clarify the intention of the Corporation and its Compensation Committee and Executive regarding certain provisions of the Amended and Restated Employment Agreement;
WHEREAS, the parties have mutually agreed upon the following amendment to the Amended and Restated Employment Agreement;
NOW, THEREFORE, for and in consideration of the premises and of the mutual promises and undertakings of the parties as set forth in the Amended and Restated Employment Agreement and in the Amendment, and as set forth herein, and other and good and valuable consideration, receipt of which is hereby acknowledged, the parties covenant and agree as follows:
1.    Section 6 of the Amended and Restated Employment Agreement, as amended, is modified to read in full as follows (in lieu of the current language of such section):
Section 6.    Bonuses.
Executive shall participate in executive bonus programs, as established from time to time by the Board of Directors, or an appropriate committee thereof.  This includes participation in the Optical Cable Corporation annual Senior Leadership Team Annual Bonus Criteria (or similar program) each fiscal year.  Executive will be provided with at least a 100% annual target bonus opportunity (as a percentage of annual base salary, as such annual base salary may have been increased from time to time) for any such annual executive bonus programs which, unless otherwise provided herein, is contingent on achievement of quantified corporate goals.
The Board of Directors, or an appropriate committee thereof, may increase, from time to time, Executive’s annual target bonus opportunity percentage, which will become the new minimum annual target bonus opportunity percentage for purposes of this Agreement; provided that the Board, or an appropriate committee thereof, has indicated in writing its intention for such increase to become the new minimum annual target bonus opportunity percentage.  If requested by the Board of Directors, or an appropriate committee thereof, Executive may (but is not required to) temporarily consent to a lower annual target bonus opportunity for any given year; however, this shall not have the effect of modifying or changing the annual target bonus opportunity percentage as set forth in Section 6 for any year other than the year for which any such consent is given and further shall not have the effect of modifying or diminishing, whether in the year for which any such consent is given or otherwise, the payment or calculation of any other payment to which Executive otherwise is entitled under this Agreement, including without limitation under the provisions of Section 10.
2.    This Amendment may be executed in counterparts by Executive and the Corporation, which when taken together shall constitute the complete original Amendment and shall be fully enforceable, and a facsimile signature or electronically transmitted PDF image of a signature shall be deemed an original signature for purposes of executing this Amendment.
3.    Except as modified by this Amendment, the Amended and Restated Employment Agreement of April 11, 2011, as amended by the Amendment, shall remain in full force and effect.
IN WITNESS WHEREOF, the Corporation has caused this Amendment to be signed by its duly authorized representative and Executive has hereunto set his hand and seal on the day and year first above written.
OPTICAL CABLE CORPORATION
By:   /s/ Craig H. Weber_________________
Craig H. Weber
Chairman of the Compensation Committee of the Board of Directors

EXECUTIVE

 /s/ Neil D. Wilkin, Jr.______________________
Neil D. Wilkin, Jr.

1SmithOCC2ndAmendtoAmendandRestateEmploymtAgmt

SECOND AMENDMENT TO 
OPTICAL CABLE CORPORATION EMPLOYMENT AGREEMENT

THIS SECOND AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Amendment") is made and entered into as of the 14th day of March, 2014, by and between Optical Cable Corporation, a Virginia corporation, hereinafter called the "Corporation", and Tracy G. Smith, hereinafter called the "Executive", and provides as follows:
WHEREAS, the Corporation and Executive entered into an Amended and Restated Employment Agreement as of the eleventh day of April, 2011, setting forth certain terms and conditions of Executive's continued employment by the Corporation (the "Amended and Restated Employment Agreement");
WHEREAS, the Amended and Restated Employment Agreement was amended as of December 18, 2012 in certain respects to comply with the requirements of Section 409A of the Internal Revenue Code and the regulations promulgated thereunder (the "Amendment");
WHEREAS, the Amended and Restated Employment Agreement must be further amended in certain respects to clarify the intention of the Corporation and its Compensation Committee and Executive regarding certain provisions of the Amended and Restated Employment Agreement;
WHEREAS, the parties have mutually agreed upon the following amendment to the Amended and Restated Employment Agreement;
NOW, THEREFORE, for and in consideration of the premises and of the mutual promises and undertakings of the parties as set forth in the Amended and Restated Employment Agreement and in the Amendment, and as set forth herein, and other and good and valuable consideration, receipt of which is hereby acknowledged, the parties covenant and agree as follows:
1.    Section 6 of the Amended and Restated Employment Agreement, as amended, is modified to read in full as follows (in lieu of the current language of such section):
Section 6.    Bonuses.
Executive shall participate in executive bonus programs, as established from time to time by the Board of Directors or an appropriate committee thereof. This includes participation in the Optical Cable Corporation annual Senior Leadership Team Annual Bonus Criteria (or similar program) each fiscal year.  Executive will be provided with at least a 55% annual target bonus opportunity (as a percentage of annual base salary, as such annual base salary may have been increased from time to time) for any such executive bonus program  which, unless otherwise provided herein, is contingent on achievement of quantified corporate and divisional goals and specifically identified divisional objectives.
The Board of Directors, or an appropriate committee thereof, may increase, from time to time, Executive’s annual target bonus opportunity percentage, which will become the new minimum annual target bonus opportunity percentage for purposes of this Agreement; provided that the Board, or an appropriate committee thereof, has indicated in writing its intention for such increase to become the new minimum annual target bonus opportunity percentage.  If requested by the Board of Directors, or an appropriate committee thereof, Executive may (but is not required to) temporarily consent to a lower annual target bonus opportunity for any given year; however, this shall not have the effect of modifying or changing the annual target bonus opportunity percentage as set forth in Section 6 for any year other than the year for which any such consent is given and further shall not have the effect of modifying or diminishing, whether in the year for which any such consent is given or otherwise, the payment or calculation of any other payment to which Executive otherwise is entitled under this Agreement, including without limitation under the provisions of Section 10.
2.    This Amendment may be executed in counterparts by Executive and the Corporation, which when taken together shall constitute the complete original Amendment and shall be fully enforceable, and a facsimile signature or electronically transmitted PDF image of a signature shall be deemed an original signature for purposes of executing this Amendment.
3.    Except as modified by this Amendment, the Amended and Restated Employment Agreement of April 11, 2011, as amended by the Amendment, shall remain in full force and effect.
IN WITNESS WHEREOF, the Corporation has caused this Amendment to be signed by its duly authorized representative and Executive has hereunto set his hand and seal on the day and year first above written.
OPTICAL CABLE CORPORATION
By:  /s/ Craig H. Weber    _____
Craig H. Weber
Chairman of the Compensation Committee
of the Board of Directors

EXECUTIVE

_/s/ Tracy G. Smith_______________________
Tracy G. Smith

1Exhibit 10.107

 

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

This First Amendment to
Employment Agreement (the “1st Amendment”) is made and entered into by and between Save The World Air, Inc.
(the “Company”) and Greggory M. Bigger (“Executive”), effective as of September 1, 2013 (the “1st
Amendment Effective Date”), with reference to the following:

 

RECITALS

 

		A.	Effective as of February 1, 2012, the Company and Executive entered into that certain Employment
Agreement (the “Employment Agreement”);

		B.	It is the desire of the Company and Executive to amend the Employment Agreement, pursuant to the
terms and conditions of this 1st Amendment, effective as of the 1st Amendment Effective Date.

NOW, THEREFORE,
the parties hereto agree to amend the Employment Agreement, as follows:

I.            Section
3 of the Employment Agreement is hereby amended, as follows:

3.2    Base
Salary. Executive shall receive a base salary of $290,000 per year.

3.3    Bonus.
The following language shall be added to the end of Section 3.3:

Notwithstanding
the foregoing, Executive shall be eligible to receive an annual cash bonus, within the discretion of the Company’s Board
of Directors (“Board”). In exercising its discretion, the Board shall consider, among other things, the Company’s:
(a) revenue; (b) earnings; (c) contracts; (d) cash position; (e) liquidity; (f) customers; (g) NASDAQ or other exchange
listings; (h) market capitalization; (i) general financial condition; and (j) achievement of goals set forth in management’s
yearly budgets, plans and projections. Any award of bonus shall be paid no later than forty-five (45) days following the filing
of the Company’s Form 10-K with the SEC.

II.           Section
4 of the Employment Agreement is hereby amended, as follows:

4.8    Involuntary
Termination: The following language shall be added to the end of Section 4.8:

(iii)    Any
person, including all affiliates of such person, who is or becomes the beneficial owner (as defined in Rule 13d-3 under the Securities
Exchange Act of 1934, as amended), directly or indirectly, of securities of the Company representing fifty percent (50%) or more
of the combined voting power of the Company’s then outstanding securities. Upon a Change of Control event, the Employment
Agreement and all amendments thereto shall be deemed terminated, and Company shall pay Executive the amount set forth in Section
4.9, below, within ten (10) days from the Change of Control event.

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4.9    Payment
Upon Termination: Section 4.9 of the Employment Agreement is hereby deleted and replaced with the following language:

In the event
of a Change of Control, Executive shall be paid an amount equal to four (4) times his annual Base Salary as in effect on the date
of the Change of Control, and all unvested stock options and warrants held by Executive shall immediately vest effective on the
date of the Change of Control.

4.11    Payment
on Termination Without Cause or Resignation for Good Reason: A new Section 4.11 shall be added to the Employment Agreement,
as follows:

If Executive
is terminated by the Company without cause or if he resigns for “good reason,” Executive shall be paid an amount equal
to two (2) times his annual Base Salary as in effect on the date of the termination, payable, at the discretion of the Company,
in one lump sum or in equal monthly installments during a term not to exceed thirty-six (36) months, less applicable withholding
taxes. Additionally, all of Executive’s unvested options and warrants shall vest to the same extent as Executive would have
become vested if he had remained employed by the Company for an additional two (2) years. “Good Reason” shall be defined
to mean any reduction in Executive’s then current annual Base Salary of ten percent (10%) or more, or relocation of the Company’s
principal executive office to a location more than twenty-five (25) miles outside of Santa Barbara, California, or a substantial
change in the then current duties and responsibilities of Executive,

4.12    Payment
on Termination for Cause. A new Section 4.12 shall be added to the Employment Agreement, as follows:

In the event
of Executive’s termination for Cause, Executive shall be entitled to receive only his Base Salary accrued through the date
of such termination, and nothing more, and all of Executive’s unvested options and warrants shall be canceled.

III.         If
there are any inconsistencies between the Employment Agreement and this 1st Amendment, the terms and conditions of
this 1st Amendment shall control.

IV.         Except
for the changes set forth in this 1st Amendment, all terms and conditions in the Employment Agreement shall remain
unchanged and in full force and effect.

Executed effective
as of the 1st Amendment Effective Date.

SAVE THE WORLD
AIR, INC.

 

By:  /s/ Cecil
Bond Kyte

        Cecil Bond
Kyte, Chief Executive Officer

 

By:  /s/ Gregg
Bigger

        Greggory M. Bigger

 

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