Document:

Employment Agreement between the Company and Ronald  Linares

 EXHIBIT 10.10 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”), dated as of September 1, 2004, between OmniComm Systems, Inc., a Delaware corporation, (the
“Company”), and Ronald Linares (the “Executive”). 
  
 WITNESSETH: 
  
 WHEREAS, the Executive has
experience in managing at a senior level the financial activities of a publicly traded company (or a division of such a company) involved in the clinical trials business; 
  
 WHEREAS, the parties acknowledge that the Executive’s abilities and services are unique and essential to the
prospects of the Company; and, 
  
 WHEREAS, in light of the
foregoing, the Company desires to employ the Executive as its Chief Financial Officer and the Executive desires to accept such employment. 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Employment. The Company hereby employs the Executive and the Executive hereby accepts employment upon the terms and conditions
hereinafter set forth. 
  
 2. Term and Termination.
This Agreement shall commence on September 1, 2004 for a term of one-year and shall automatically renew for successive one-year terms unless terminated by: 
  

	 	(a)	the death or disability of the Executive. Disability shall mean the Executive’s inability, due to sickness or injury, to perform effectively his duties hereunder for a period
of at least 90 consecutive days; 

  

	 	(b)	thirty (30) days after notice is given by the Company to the Executive after a material breach hereof by the Executive; or, 

  

	 	(c)	thirty (30) days after notice is given by the Executive to the Company after a material breach hereof by the Company. 

  
 The exercise of the Company’s or the Executive’s right to terminate this Agreement
pursuant to clause (b) or (c) hereof, as the case may be, shall not abrogate the rights and remedies of the terminating party in respect of the breach giving rise to such termination. 
  
 3. Salary. For all services rendered under this Agreement: 
  

	 	(a)	During the term of his employment, the Company shall pay the Executive an annual salary of $161,000. The Executive’s salary may be paid in the form of cash and/or stock, as
agreed upon by the parties. This amount may be increased at the discretion of the Board of Directors and shall be adjusted to compensate for annual cost of living increases. 

  

	 	(b)	During the term of his employment, the Executive shall be entitled to participate in employee benefit plans or programs of the Company, if any, to the extent the Executive is
eligible to participate thereunder. Such plans and programs shall include, but not be limited to, the following: 

  

	 	i.	major medical health insurance for the Executive, his spouse and two children; and 

  

	 	ii.	four weeks paid vacation. 

  

	 	(c)	The Executive shall be permitted to participate in the Company’s stock option plan. 

  

	 	(d)	The Company shall also pay the Executive a bonus based upon achieving financial milestones set forth in a particular calendar year. The Executive shall be entitled to receive a
bonus to be agreed upon by the Executive and the Company’s Board of Directors. The Company’s Board of Directors and the Executive shall agree upon the milestones and if the Executive meets the milestone conditions, he shall be paid 30 days
after the end of the Company’s calendar year. 

	 	(e)	The Executive shall also be entitled to severance pay equal to six (6) months salary and benefits in the event of termination by the Company for any reason other than commission of
a felony or a crime involving moral turpitude relating to services provided to the Company, or termination by the Company pursuant to Paragraph 2(c). Options which have vested prior to the date of termination shall remain exercisable during the
severance period. Unvested options shall terminate in accordance with the terms of the respective Stock Option Agreements. 

  
 4. Duties. The Executive shall be employed as Chief Financial Officer of the Company and, subject to the direction of the Board of Directors and
the Company’s officers designated by the Board of Directors, shall perform and discharge well and faithfully the duties which may be assigned to him from time to time by the Company in connection with the conduct of its business. If the
Executive is elected or appointed a director of the Company or any subsidiary thereof during the term of this Agreement, the Executive will serve in such capacity without further compensation. 
  
 5. Extent of Services. Except as set forth below, the Executive shall
devote his entire time, attention and energies to the business of the Company and shall not during the term of this Agreement be engaged, whether or not during normal business hours, in any other business or professional activity, whether or not
such activity is pursued for gain, profit, or other pecuniary advantage. Notwithstanding the foregoing, the Executive shall be allowed to serve on the Board of Directors of other companies so long as such Board participation does not interfere with
the Executive fulfilling his duties to the Company and the Executive obtains the prior written approval of the Company’s Board of Directors. In addition, the Executive shall be allowed to provide consulting services to other companies so long
as he obtains the prior written approval of the Company’s Board of Directors, turns over to the Company the entire amount of the compensation he receives as a result of providing such services, and provides such services no more than three (3)
days per month. 
  
 6. Disclosure of Information. The
Executive recognizes and acknowledges that the Company’s trade secrets and proprietary information and processes, as they may exist from time to time, are valuable, special and unique assets of the Company’s business, access to and
knowledge of which are essential to the performance of the Executive’s duties hereunder. The Executive will not, during or after the term of his employment by the Company, in whole or in part, disclose such secrets, information or processes to
any person, firm, corporation, association or other entity for any reason or purpose whatsoever, nor shall the Executive make use of any such property for his own purposes or for the benefit of any person, firm, corporation or other entity except
the Company under any circumstances during or after the term of his employment, provided that after the term of his employment these restrictions shall not apply to such secrets, information and processes which are then in the public domain provided
that the Executive was not responsible, directly or indirectly, for such secrets, information or processes entering the public domain without the Company’s consent. The Executive agrees to hold as the Company’s property, all memoranda,
books, papers, letters, formulas and other data, and all copies thereof and therefrom, in any way relating to the Company’s business and affairs, whether made by him or otherwise coming into his possession, and on termination of his employment,
or on demand of the Company, at any time, to deliver the same to the Company. In the event an action is instituted and prior knowledge is an issue, it shall be the obligation of the Executive to prove by clear and convincing evidence that the
confidential information disclosed was in the public domain, was already known by the Executive prior to his employment with the Company, or was developed independently by the Executive. 
  
 7. Inventions. The Executive hereby sells, transfers and assigns to the Company or to any person, or entity
designated by the Company, all of the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable material, made or conceived by the Executive,
solely or jointly, or in whole or in part, during the term hereof which (i) relate to 
  

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 methods, apparatus, designs, products, processes or devices sold, leased, used or under construction or development by
the Company or any subsidiary, or (ii) otherwise relate to or pertain to the business, functions or operations of the Company or any subsidiary, or (iii) arise wholly or partly from the efforts of the Executive during the term hereof. The Executive
shall communicate promptly and disclose to the Company, in such form as the Company requests, all information, details and data pertaining to the aforementioned inventions, ideas, disclosures and improvements; and, whether during the term hereof or
thereafter, the Executive shall execute and deliver to the Company such formal transfers and assignments and such other papers and documents as maybe required of the Executive at the Company’s expense to permit the Company or any person or
entity designated by the Company to file and prosecute the patent applications and, as to copyrightable material, to obtain copyright thereon. Any invention by the Executive within one (1) year following the termination of this Agreement shall be
deemed to fall within the provisions of this paragraph unless proved by the Executive to have been first conceived and made following such termination. 
  
 8. Covenant Not to Compete. 
  

	 	(a)	During the term hereof and for a period of one (1) year thereafter, the Executive shall not compete, directly or indirectly, with the Company, interfere with, disrupt or attempt to
disrupt the relationship, contractual or otherwise, between the Company and any customer, client, supplier, consultant, or employee of the Company and any customer, client, supplier, consultant or employee of the Company, including, without
limitation, employing or being an investor (representing more than 5% equity interest) in, or officer, director, or consultant to, any person or entity which employs any former key or technical employee whose employment with the Company was
terminated after the date which is one year prior to the date of termination of the Executive’s employment therewith. An activity competitive with an activity engaged in by the Company shall mean performing services whether as an employee,
officer, consultant, director, partner, or sole proprietor for any person or entity engaged in the business then engaged in by the Company, which services involve the development and marketing of a web-based system to collect, manage, and compile
clinical trial and research data. 

  

	 	(b)	It is the desire and intent of the parties that the provisions of this Section shall be enforced to the fullest extent permissible under the laws and public policies applied in each
jurisdiction in which enforcement is sought. Accordingly, if any particular portion of this Section shall be adjudicated to be invalid or unenforceable, this Section shall be deemed amended to delete therefrom the portion thus adjudicated to be
invalid or unenforceable, such deletion to apply only with respect to the operation of this Section in the particular jurisdiction in which such adjudication is made. 

  

	 	(c)	Nothing in this Section shall reduce or abrogate the Executive’s obligations during the term of this Agreement under Sections 4 and 5 hereof. 

  
 9. Remedies. If there is a breach or threatened breach of the
provisions of Section 6, 7 or 8 of this Agreement, the Company shall be entitled to an injunction restraining the Executive from such breach. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies for such
breach or threatened breach. 
  
 10. Assignment. This
Agreement may not be assigned by any party hereto; provided that the Company may assign this Agreement: 
  

	 	(a)	to an affiliate so long as such affiliate assumes the Company’s obligations hereunder; provided that no such assignment shall discharge the Company of its obligations herein,
or 

  

	 	(b)	in connection with a merger or consolidation involving the Company or a sale of more than 50% of the Company’s securities or assets, to the surviving corporation or purchaser
as the case may be, so long as such assignee assumes the Company’s obligations thereunder. 

  

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 11. Notices. Any notice required or permitted to be given under this Agreement shall be sufficient
if in writing and sent by registered mail to the Executive at his residence at: 
  
 Ronald Linares 
 1000 NW 190 Ave 
 Pembroke Pines, FL 33029 
  
 and to the Company at: 
  
 OmniComm Systems, Inc. 
 2555 Davie Road, Suite 110-B 
 Davie, Florida 33317 
 Attention: Chief Executive Officer 
  
 12. Waiver of Breach. A waiver by the Company or the Executive of a breach of any provision of this Agreement by the other party shall not operate
or be construed as a waiver of any subsequent breach by the other party. 
  
 13. Entire Agreement. This instrument contains the entire agreement of the parties. It may be changed only by an agreement in writing signed by a party against whom enforcement of any waiver, change,
modification, extension or discharge is sought. 
  
 14.
Governing Law. This Agreement shall be construed in accordance with the laws of the State of Florida. All questions with respect to the construction hereof and the rights and liabilities of the parties hereto shall be governed by the laws of the
State of Florida. Any action or proceeding arising out of or relating hereto shall be brought in Miami-Dade County, State of Florida. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first hereinabove written. 
  

			
	OmniComm Systems, Inc.
		
	By:	 	 /s/ Cornelis F. Wit

	 	 	Cornelis Wit
	 	 	Chief Executive Officer

  
 Executive 
  

			
	 	 	 /s/ Ronald Linares

	 	 	Ronald Linares

  

 4Amended and Restated Promissory Note between the Company and Cornelis F. Wit

 EXHIBIT 10.11 
  
 PROMISSORY NOTE 
  
 $364,759.00 
 Broward County, Florida 
 June 30, 2004 
  
 FOR VALUE RECEIVED, the undersigned, (hereinafter referred to as the (“Maker”) promises to pay to the order of Guus van Kesteren, its successors or assigns, (hereinafter referred to as
“Payee”), the principal sum of THREE HUNDRED SIXTY FOUR THOUSAND SEVEN HUNDRED AND FIFTY NINE/100 DOLLARS ($364,759.00), together with interest on the principal balance from time to time outstanding, at the rate of nine percent (9.00%) per
annum; principal and interest shall be payable as follows: (i) one-half (1/2) of the principal sum shall be payable upon the closing of any financing by Maker resulting in gross proceeds to the Maker in excess of $2,000,000, and (ii) the balance of
the principal sum, together with accrued interest, shall be paid no later than October 31, 2006. 
  
 This Promissory Note hereby replaces and supercedes the promissory note previously issued to the Payee by the Maker, including: (i) that certain note in the principal amount of $196,644.00. originally dated August 31,
2001, (ii) that certain note in the principal amount of $50,000 dated December 31, 2003, (iii) that certain note in the principal amount of $71,000 dated March 25, 2004 and (iv) that certain note in the principal amount of $35,000 dated June 4,
2004.. 
  
 In the event that the Maker defaults in the payment of any payment of
the principal sum or interest owing hereunder when and as the same shall become due and payable and such default shall continue for a period of 15 days, then this Promissory Note shall be in default and the entire principal sum and all accrued
interest shall become due and payable at once without notice and demand at the option of the Payee. While in default, amounts outstanding under this Promissory Note shall bear interest at the rate of twelve percent (12%) per annum. 
  
 This Promissory Note may be prepaid in whole or in part at any time without penalty or
premium. All payments made shall first be applied to accrued and unpaid interest and then to principal. Any prepayment shall require payment of all accrued interest thereon. 
  
 In the event of an action to enforce this Promissory Note is commenced in a court of competent jurisdiction or in the event recourse to any
court shall be deemed necessary by Payee or Payee deems it necessary to employ legal counsel in order to collect or enforce the terms and provisions hereof for any reason, including but not limited to the filing of a proof(s) of claim or any other
proceedings under the Acts of Congress relating to Bankruptcy Proceedings or in any other type of receivership or insolvency proceedings, Payee shall be entitled to reasonable attorney’s fees (through and including any appellate proceedings)
and all costs and expenses incurred by Payee in collecting or enforcing payment hereof. 
  
 The Maker and any endorsers, sureties, guarantors, and all others who are, or may become liable for the payment hereof, (a) severally waive presentment for payment, demand, notice of protest of this Promissory Note, and all other notices in
connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Promissory Note, (b) expressly consent to all extensions of time, renewals, postponements of time of payment of this Promissory Note or other
modifications hereof from time to time prior to or after the day they became due without notice, consent or consideration to any of the foregoing, (c) expressly agree to the addition or release of any party or person primarily or secondarily liable
hereon, (d) expressly agree that the Payee shall not be required first to institute any suit, or to exhaust its remedies against the undersigned or any other person or party to become liable hereunder in order to enforce the payment of this
Promissory Note, and (e) expressly agree that, notwithstanding the occurrence of any of the foregoing (except the express written release by the Payee of any such person), the Maker shall be and remain, directly and primarily liable for all sums due
under this Promissory Note. 

 Notwithstanding any other provisions of this Promissory Note or any other instrument executed in connection with the
loan evidenced here by, it is expressly agreed that the amounts payable under this Promissory Note or under the other aforesaid instruments for the payment of interest or any other payment in the nature of or which would be considered as interest or
other charge for the use or loan of money shall not exceed the highest rate allowed by the laws of the State of Florida, from time to time, and in the event the provisions of this Promissory Note or of such other instrument referred to above in this
paragraph with respect to the payment of interest or other payments in the nature of or which would be considered as interest or other charge for the use or loan of money shall result in exceeding such limitation, then the excess over such
limitation shall not be payable and the amount otherwise agreed to have been paid shall be reduced by the excess so that such limitation will not be exceeded. If any payment is actually made which shall result in such limitation being exceeded, the
amount of the excess shall constitute and be treated as a payment on the principal hereof and shall operate to reduce such principal by the amount of such excess, or if in excess of the principal indebtedness, such excess shall be refunded.

  
 This Promissory Note shall be construed in accordance with the laws of
the State of Florida. 
  
 MAKER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION BASED HEREUNDER, OR ARISING OUT OF, OR IN CONNECTION WITH THIS PROMISSORY NOTE OR ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF EITHER THE MAKER OR LENDER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PAYEE TO EXTEND THE CREDIT EVIDENCED BY THIS NOTE. 
  
 MAKER: 
  

	
	OMNICOMM SYSTEMS, INC.
	
	 /s/ Ronald T. Linares

	Ronald T. Linares
	Chief Financial Officer

  

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