Document:

a5528870ex10-1.htm

    Exhibit
      10.1

    

     

     

    
      October
        18, 2007

      

      Jaime
        Rovelo

      

      Dear
        Jaime:

      

      On
        behalf
        of Commerce Planet, Inc. (the “Company”) I am pleased to offer you promotion to
        Chief Financial Officer from your current position with the Company as Corporate
        Controller.  The material terms of the offer are as
        follows:

       

       

      
        	 	Employee:	Jaime
                Rovelo
	 	 	 
	 	Start
                Date:	October
                26, 2007
	 	 	 
	 	Salary:	$130,000/annual
	 	 	 
	 	
                Position
                  Title:

              	
                Chief
                  Financial Officer

              
	 	 	 
	 	
                Bonus:

              	
                Discretionary
                  bonus of up to 25% of annual salary, based on performance review
                  by
                  CEO

              
	 	 	 
	 	
                Stock
                  Options:

              	
                Subject
                  to the approval of the Board of Directors, you will be granted
                  an option
                  to purchase 70,000 shares of Commerce Planet, Inc. restricted common
                  stock.   The exercise price per share will be equal to the
                  closing OTCBB market price per share on the date before your first
                  day of
                  employment. Your options will vest over the 24 months following
                  your Start
                  Date on a monthly pro rata basis. The option will be subject to
                  the terms
                  and conditions applicable to options granted under the Company’s 2006
                  Equity Incentive Plan, as amended, as described in that
                  Plan.  These shares shall be in addition to any shares
                  you were previously granted in connection with your employment
                  as
                  Corporate Controller and shall not affect the vesting schedule
                  of those
                  options.

              
	 	 	 
	 	
                Benefits:

              	
                Medical,
                  dental, vision and 401(k) (continuing coverage under your current
                  plan)

              
	 	 	 
	 	Vacation:	15
                days/ annual
	 	 	 
	 	Sick/Personal: 	5
                days/ annual
	 	 	 
	 	Reports
                to:	CEO
                and President

      

       

      
        
          Your
            employment with the Company will be strictly “at will,” meaning that either you
            or the Company will be entitled to terminate your employment at any time
            and for
            any reason, with or without cause.  Any contrary representations which
            may have been made to you are superseded by this offer.  Although your
            job duties, title, compensation and benefits, as well as the Company’s personnel
            policies and procedures, may change from time to time, the “at will” nature of
            your employment may only be changed in an express written agreement signed
            by
            you and a duly authorized officer of the Company.  Nothing herein or
            in any discussion leading to an offer may be construed as a contract
            or
            guarantee of employment for a definite period of time.

           

           

          Employee
            Initials: ______

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

        

      

    

     

    
      This
        offer
        supersedes any prior offers extended for this position.  Please
        confirm your acceptance of this offer by signing this letter and returning
        it to
        us.  We look forward to working with you and anticipate an enjoyable
        and mutually beneficial relationship.

       

      
 

      Sincerely,

       

      

      Charlie
        Gugliuzza

      President

      

      

      I
        ACCEPT THE ABOVE OFFER INCLUDING ALL TERMS OF THE OFFER DESCRIBED ABOVE,
        INCLUDING THE PROVISION REGARDING “AT-WILL EMPLOYMENT”:

       

       

      
        	/s/
                Jaime Rovelo	 	October
                23, 2007 	 
	
                Jaime
                  Rovelo

              	
                Datea5528870ex10-2.htm

    EXHIBIT
      10.2

     

    EXECUTIVE
      EMPLOYMENT AGREEMENT – AMENDMENT 1

     

    THIS
      AMENDMENT (the “Amendment”) to the Executive Employment Agreement of Michael
      Hill dated September 1, 2006 (the “Agreement”) is made and entered into by and
      between COMMERCE PLANET, INC., a Utah corporation (hereafter
“Company”) and Michael Hill, (hereafter
“Employee”).  This Amendment shall modify and amend the
      terms of the
      Agreement.  The effective date of this Amendment is November 5,
      2007.  All capitalized terms used herein shall have the same meaning
      as in the Agreement, unless stated otherwise.

     

    Now,
      THEREFORE, and for valuable and sufficient consideration duly recognized by
      both
      Parties, the Parties agree as follows:

     

    
      	
               

            	
              1.

            	
              Assignment
                of New position within Commerce Planet,
                Inc.

            

    

     

    A.           Employment
      Status.  Employee will resign his position as Chief
      Executive Officer effective November 5, 2007.  Effective November 5,
      2007, Employee will be employed by Company as Chief Strategic
      Officer.

     

    B.           Job
      Duties.  Employee’s responsibilities as Chief Strategic
      Officer will include supporting Company’s Chief Executive Officer and
      President.  Employee’s primary focus will include business
      development, product development, integration and strategic
      planning.

     

    C.           Compensation.  Employee
      will continue to be paid his current Annual Salary of
      $350,000.00.  However, as of November 5, 2007, the Cash Bonus
      compensation detailed in Section 4.2 the Agreement shall no longer be paid
      to
      Employee, except that any Cash Bonus which has accrued through November 4,
      2007
      shall be paid to Employee on a pro rata basis on the relevant Payment
      Due Date per Section  4.2 (ii) of the Agreement.

     

    D.           Term.  It
      is expressly agreed by the parties that the Term of the Agreement, as amended
      hereby, shall be extended to December 31, 2007 (notwithstanding the expiration
      of the Initial Term or the failure of the parties to enter into written
      extensions of the Term before the date of this Amendment).  After
      December 31, 2007, the Employee’s employment with Company shall be strictly
“at-will” and may be terminated by either party at any time, with or without
      cause, and without any Company liability for the Severance Payments described
      in
      Sections 4.4 or 4.5 of the Agreement.

     

    E.           Miscellaneous
      Provisions. Each party voluntarily enters this Amendment and has
      been given the opportunity to have this Amendment reviewed by counsel of its
      choice.  This amendment has been freely negotiated between the parties
      and shall not be construed against either party as its drafter.  This
      Amendment shall not be construed to be termination of employment under the
      Agreement triggering any right to severance payment of any kind.  The
      parties hereby agree that to the extent that the terms of this Amendment
      conflict with the terms of the Agreement, the terms of this Amendment shall
      supersede and prevail over the Agreement.  Unless expressly stated
      otherwise within this Amendment, all other provisions of the Agreement shall
      remain in full force and effect.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS HEREOF, the parties hereto have executed this Agreement as of
      the date and year written below.

     

    
      	
              COMMERCE
                PLANET, INC.

            	
              MICHAEL
                HILL

            
	 	 
	/s/
              Charlie Gugliuzza	/s/
              Michael Hill
	By:
              Charlie Gugliuzza/President	By:
              Michael Hill
	
              Date:  October
                24, 2007

            	
              Date:
                October 24,
                2007a5528870ex10-3.htm

    EXHIBIT
      10.3

     

    EXECUTIVE
      EMPLOYMENT AGREEMENT – AMENDMENT 1

     

    THIS
      AMENDMENT (the “Amendment”) TO THE EXECUTIVE EMPLOYMENT AGREEMENT (the
“Agreement”) is made and entered into by and between COMMERCE PLANET,
      INC., a Utah corporation (hereafter “Company”) and CHARLIE
      GUGLIUZZA, with all rights assigned to his consulting company
Olive Tree Holdings, LLC (hereafter “Consultant”) and is
      effective as of November 5, 2007.

     

    Now,
      THEREFORE, and for valuable and sufficient consideration dully recognized by
      both Parties agree as follows –

     

    
      	
               

            	
              1.

            	
              Conversion
                of Existing Employment Agreement to Consulting
                Agreement.  The provisions of the original
                Agreement will remain in effect and accelerated where applicable
                except
                for those specific modifications stated
                herein.

            

    

     

    1A.           Employment
      Status. Employee’s position of President will convert into a
      consulting role effective November 5, 2007.  Employee will consult
      full time until January 1, 2008.  After January 1, 2008 employee will
      reduce consulting hours at board’s discretion.  Consistent with
      provision 4.3(i) and (ii) of the Agreement Gugliuzza will offer not less than
      ten (10) hours of service per month.

     

    1B.           Job
      Duties. Consultant’s responsibilities will include supporting
      Company’s Chief Executive Officer and President.  Primary focuses will
      include capital funding, investor relations and strategic planning.

     

    1C.           Term
      & Termination. Employee’s consulting relationship may be
      terminated after the January 1, 2008 for any reason with thirty (30) days
      written notice by Company. Upon termination by Company for any reason all
      ownership interests associated with this Agreement will immediately cease to
      divest, with ownership transferred in full.  Effective January 1, 2008
      Consultant forfeits any rights to the severance payment
      identified  under Section 4.5 of the original
      Agreement.  Consultant must offer a minimum of ten (10) hours a month,
      consistent with his divesting schedule and terms of the original Agreement.
      If
      Company does not accept these minimum hours of service they will not incur
      any
      hourly costs, however the offering of service will fulfill Consultants
      requirement under this Agreement regarding his divesting of ownership provision.
      Consultant may terminate this Agreement for any reason with thirty (30) days
      written notice. Upon voluntary termination Employee would forfeit ownership
      rights to all unvested shares.

     

    1D.           
      Compensation. Effective November 5, 2007 Consultant will be paid as
      a Consultant in accordance with his current “Employment” base and bonus
      structure with the original Agreement.  Effective January 1, 2008
      employee will be paid at a rate of three hundred fifty ($350.00) dollars per
      hour, with a minimum monthly payment of twenty-thousand ($20,000) dollars per
      month.  Consultant will provide bi-monthly invoices accounting for
      billed hours in excess of the base minimum monthly commitment.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    1E.           Vacation.
      Effective November 5, 2007 Consultant will be paid for all accrued and unused
      vacation he is entitled to.  Effective January 1, 2007 Employee will
      not be entitled to paid vacation in association with his Consultancy
      position.

     

    1F.           Sick
      Leave. Effective November 5, 2007 Employee will not be entitled to
      paid sick time in association with his Consultancy position.

     

    1G.           Health
      Insurance. As long as Consultant continues services under this
      Agreement, Company will reimburse him for his monthly health insurance premiums
      not to exceed fifteen hundred ($1,500) dollars per month.

     

    1H.           Housing
      Allowance. Effective December 1, 2007 and consistent with his
      change in capacity, Consultant’s housing allowance will be
      terminated.

     

    1I.           Vehicle
      & Related Expenses. As long as Consultant continues services
      under this Agreement, Company will reimburse him for his monthly vehicle and
      vehicle related expenses as consistent with section 9 of the original
      Agreement.

     

    1J.           Work
      Related Expenses. Consultant will be provided a credit card on
      behalf of Company to be utilized for work-related expenses incurred by
      Consultant in promoting the business of Company, including expenditures for
      entertainment and travel.

     

    1K.           Other
      Benefits. As part of the original Agreement and in exchange for the
      extension of Consultant’s divesting schedule, Consultant will continue to be
      entitled to payments for his Executive MBA Program identified under Section
      4.3
      (iii) of the original Agreement.

     

    
      	
               

            	
              2.

            	
              Miscellaneous
                Provisions. In the event of a conflict the terms of this
                Amendment will prevail over the original Agreement.  All other
                provisions of the original Agreement, unless expressly stated otherwise
                within this Amendment shall remain in
                effect.

            

    

     

     

     

    
      	 	 	 	 
	Commerce
              Planet, Inc.	Olive
              Tree Holdings, LLC
	 	 
	 	 
	Michael
              Hill, CEO & Chairman	Charlie
              Gugliuzza, Manager
	 	 
	/s/ Michael
              Hill	 	/s/
              Charlie Gugliuzza 	 
	Date
              October 24, 2007	Date
              October 24, 2007

    

     

     

     

    2

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