Document:

Unassociated Document

    Exhibit
      10.25

     

    EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    This
      Executive Employment Agreement (the “Agreement”)
      is
      made as of the 15th day of June, 2006 (the “Effective
      Date”),
      by
      and between Broadcaster, Inc., a California corporation (the “Company”)
      and
      Blair Mills (“Executive”),
      an
      individual residing in California. 

     

    WHEREAS,
      the Company is in need of an executive with significant experience in accounting
      and finance matters; and

     

    WHEREAS,
      Executive has experience in such fields; and

     

    WHEREAS,
      the Company wishes to engage Executive to serve as its Chief Financial
      Officer,

     

    NOW
      THEREFORE, in consideration of the premises and the covenants contained herein,
      the parties hereby agree as follows:

     

    1. DUTIES
      AND POSITION.
      During
      the term of this Agreement, Executive agrees to be employed by and to serve
      the
      Company as its Chief Financial Officer. The Company agrees to employ and retain
      Executive in such capacity and Executive accepts and agrees to such employment,
      subject to the general supervision, advice and direction of the Company’s Board
      of Directors. Executive shall perform such duties as are customarily performed
      by an executive in a similar position. Executive shall devote his full business
      time to the performance of his duties as Chief Financial Officer. Executive’s
      reasonable attention to personal investments and other business matters of
      his
      immediate family shall not be deemed to be a violation of this
      Agreement.

     

    2. TERMS
      OF EMPLOYMENT.

     

    2.1. Term
      of Employment.
      The
      Term of Executive's employment commenced effective as of the date first set
      forth above and shall continue until the 14th day of June, 2009, unless sooner
      terminated pursuant to the provisions set forth hereinbelow (the “Term”).

     

    2.2. Place
      of Performance.
      Executive shall be based at the principal offices of the Company, which are
      located at 9201 Oakdale Avenue, Chatsworth, California. In no case will
      Executive be required or expected to move his principal residence from the
      Los
      Angeles Area.

     

    3. SALARY,
      BENEFITS AND BONUS COMPENSATION.

     

    3.1. Salary.
      As
      payment for the services to be rendered by Executive as provided in Section
      1
      and subject to the terms and conditions of Section 4, the Company agrees to
      pay
      to Executive a salary equal to One Hundred Fifty Thousand Dollars ($150,000)
      per
      year, payable in twenty-four equal installments on the 15th
      and the
      last days of each month (as may be adjusted from time to time, the “Base
      Salary”).
      Executive’s salary shall be reviewed by the Company’s Board of Directors in
      accordance with Company policies, and Executive shall be eligible for increases
      in salary and benefits as determined by the Company’s Board
      of
      Directors in its sole discretion. In no event shall Executive’s salary be
      reduced below the Base Salary except with Executive’s consent which may be
      withheld in Executive’s sole discretion.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.2. Bonuses.
      Executive shall be eligible to receive discretionary quarterly bonuses of up
      to
      $15,000 related to Executive’s success in meeting job specific MBOs and
      corporate performance as documented in the Quarterly Bonus Plan to be agreed
      on
      by Executive and his direct supervisor, as determined by the
      Company’s Board
      of
      Directors.

     

    3.3. Employee
      Benefits.
      Executive shall be eligible to participate in all benefit plans generally
      available to employees who are managers of the Company including health, dental,
      life insurance, stock and bonus compensation programs.

     

    4. TERMINATION.

     

    4.1. Definitions.
      For
      purposes of this Agreement, the following terms shall have the following
      meanings:

     

    (a) “Termination
      For Cause”
shall
      mean termination by the Company of Executive’s employment by the Company for
      reasons of Executive’s conviction of, or plea of “guilty” or “no contest” to, a
      felony involving moral turpitude, persistent dishonesty or fraud, persistent
      willful breaches of the material terms of this Agreement, or habitual neglect
      of
      the duties which he is required to perform hereunder.

     

    (b) “Termination
      Other Than For Cause”
shall
      mean termination by the Company of Executive’s employment by the Company (other
      than a Termination For Cause), or a Demotion, as defined below.

     

    (c) “Voluntary
      Termination”
shall
      mean termination of Executive’s employment with the Company by action of
      Executive (other than termination by reason of Executive’s disability or death
      as described in Sections 4.4 and 4.5).

     

    (d) “Demotion”
      shall
      mean (i) any reduction of Executive’s then current Base Salary; (ii) any
      material reduction in the package of benefits and incentives provided to
      Executive or any action by the Company which would materially and adversely
      affect Executive’s participation or reduce Executive’s benefits under any such
      plans, except to the extent that such benefits and incentives of all other
      officers of the Company are similarly reduced; (iii) any material diminution
      of
      Executive’s duties, responsibilities, or authority; or (iv) any requirement that
      Executive relocate to a work site that would increase Executive’s one-way
      commute distance to more than fifty (50) miles from Executive’s principal
      residence.

     

    4.2. Termination
      For Cause.
      

     

    (a) Termination
      For Cause may be effected by the Company at any time during the Term and shall
      be effected by notice to Executive. 

     

    (b) Upon
      Termination For Cause, Executive immediately shall be paid any accrued salary,
      any bonus compensation to the extent earned, any vested deferred compensation
      (other than pension plan or profit sharing plan benefits which will be paid
      in
      accordance with the applicable plan), any benefits under any plan of the Company
      in which Executive is a participant to the full extent of Executive’s rights
      under such plans, any accrued vacation pay and any appropriate business expenses
      incurred by Executive in connection with his duties hereunder, all to the date
      of termination, but Executive shall not be paid any other compensation or
      reimbursement of any kind, including without limitation, severance
      compensation.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.3. Termination
      Other Than For Cause.
      

     

    (a) Notwithstanding
      anything else in this Agreement, the Company may effect a Termination Other
      Than
      For Cause at any time upon notice to Executive of such termination.

     

    (b) Upon
      any
      Termination Other Than For Cause, Executive shall be paid any accrued salary,
      any bonus compensation to the extent earned, any deferred compensation (other
      than pension plan or profit sharing plan benefits which will be paid in
      accordance with the applicable plan), any accrued vacation pay and any
      appropriate business expenses incurred by Executive in connection with his
      duties hereunder, all to the date of termination, and any severance compensation
      provided in Section 5,
      but
      Executive shall be entitled to no other compensation or reimbursement of any
      kind.

     

    (c) 
      Notwithstanding the foregoing, in view of Executive's immigration status, the
      Company shall not have the right to effect a Termination Other Than For Cause
      at
      any time prior to July 31, 2007; provided, however,  that
      this
      limitation on the Company's right to Terminate Executive's employment shall
      not
      be construed to prevent the Company from terminating Executive's status as
      Chief
      Financial Officer and appointing another person to such position at such time
      as
      shall be determined by the Board of Directors in the exercise of its sole
      discretion.

     

    4.4. Termination
      by Reason of Disability.
      

     

    (a) If,
      during the Term, Executive is determined by an examining physician to have
      failed to perform his duties under this Agreement on account of illness or
      physical or mental incapacity, and such illness or incapacity continues for
      a
      consecutive period of more than four (4) months, or an aggregate of more than
      six (6) months in a twelve (12) month period, the Company shall have the right
      to terminate Executive’s employment hereunder by notice to
      Executive.

     

    (b) Upon
      a
      termination by reason of disability, the Company shall pay to the Executive
      any
      accrued salary, any bonus compensation to the extent earned, any vested deferred
      compensation (other than pension plan or profit sharing plan benefits which
      will
      be paid in accordance with the applicable plan), any benefits under any plans
      of
      the Company in which Executive is a participant to the full extent of
      Executive’s rights under such plans, any accrued vacation pay and any
      appropriate business expenses incurred by Executive in connection with his
      duties hereunder, all to the date of termination, but no other compensation
      or
      reimbursement of any kind.

     

    4.5. Death.
      

     

    (a) In
      the
      event of Executive’s death during the Term, Executive’s employment shall be
      deemed to terminate as of the last day of the month during which his death
      occurs.

     

    (b) Upon
      termination by death, the Company shall pay to Executive’s estate any accrued
      salary, any bonus compensation to the extent earned, any vested deferred
      compensation (other than pension plan or profit sharing plan benefits which
      will
      be paid in accordance with the applicable plan), any accrued vacation pay and
      any appropriate business expenses incurred by Executive in connection with
      his
      duties hereunder, all to the date of termination, but no other compensation
      or
      reimbursement of any kind.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.6. Voluntary
      Termination.
      Executive may effect a Voluntary Termination of this Agreement at any time
      upon
      sixty (60) days notice to the Company. In the event of a Voluntary Termination,
      the Company immediately shall pay any accrued salary, any bonus compensation
      to
      the extent earned, any vested deferred compensation (other than pension plan
      or
      profit sharing plan benefits which will be paid in accordance with the
      applicable plan), any benefits under any plans of the Company in which Executive
      is a participant to the full extent of Executive’s rights under such plans, any
      accrued vacation pay and any appropriate business expenses incurred by Executive
      in connection with his duties hereunder, all to the date of termination, but
      no
      other compensation or reimbursement of any kind.

     

    5. SEVERANCE
      COMPENSATION.

     

    Upon
      a
      Termination Other Than for Cause, Executive shall receive a severance fee equal
      to one month salary for each three months Executive has been employed by the
      Company, calculated at his then-current Base Salary, not to exceed a total
      of
      six months severance fee. At the Company's option, such fee shall be payable
      in
      full at the time of severance, or in equal monthly increments, each equal to
      at
      least the Executive's monthly base salary at the time of severance. In addition,
      Executive shall receive:

     

    (a) any
      benefits under any medical and dental plans of the Company in which Executive
      is
      a participant to the full extent of Executive’s rights under such plans for a
      period of twelve (12) months following the date of termination, or (at the
      Company’s option) payment in cash of the cost of such benefits at COBRA rates
      then in effect; and

     

    (b) full
      vesting of any and all unvested stock options held by Executive as of the date
      of termination.

     

    6. PAID
      TIME OFF. Executive
      shall eligible to accrue vacation and sick leave according to company policy.
      During the first year of employment, Executive will accrue vacation time off
      on
      a monthly basis at the rate of .833 days per month or ten (10) days per year.
      In
      the second and subsequent years, Executive will accrue vacation time off on
      a
      monthly basis at the rate of 1.25 days per month or fifteen (15) days per year.
      By virtue of past service with Accessmedia Networks, Inc. Executive has already
      accrued 6 days of vacation time at the signing of this agreement. Executive
      is
      ineligible to accrue vacation benefits while Executive is absent without pay
      including, but not limited to, unpaid leaves of absence. The purpose of vacation
      leave is, among other things, to provide time for recreation and relaxation.
      The
      Company encourages all of its employees to take accrued vacation leave each
      year. Accordingly, the maximum vacation Executive will be permitted to accrue
      is
      twenty-four (24) days or 192 hours. Once this cap on the accrual of vacation
      has
      been reached, no additional vacation leave will accrue until Executive has
      reduced the balance of unused vacation to less than twenty-four (24) days.
      Thereafter, vacation leave will accrue on a prospective basis as long as
      Executive’s total accrual remains under the cap. The Company reserves the right
      to compensate Executive for earned, unused vacation at any time in its sole
      discretion. In addition to vacation leave, Executive will be eligible to accrue
      six (6) days of sick leave a year. 

     

    7. HOLIDAYS. Executive
      shall be entitled to holidays with pay during each calendar year consistent
      with
      the holiday schedule applicable to management employees of the Company,
      generally.

     

    8. COMPLIANCE
      WITH EMPLOYER’S RULES. The
      employment relationship between the parties shall be governed by the general
      employment policies and procedures of the Company, including (but not limited
      to) those relating to the protection of confidential information and assignment
      of inventions; provided, however, that when the terms of this Agreement differ
      from or are in conflict with the Company’s general employment policies or
      procedures, this Agreement shall control. Executive agrees to abide by all
      of
      the Company’s policies and procedures in effect from time to time.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    9. RETURN
      OF PROPERTY. Upon
      termination of Executive’s employment, Executive shall deliver all property
      (including keys, records, notes, lists, data, memoranda, models, and equipment)
      that is in the Executive’s possession or under the Executive’s control which is
      the Company’s property or related to the Company’s business. 

     

    10. INDEMNIFICATION
      OF EXECUTIVE.
      The
      Company shall indemnify Executive against any direct losses incurred by
      Executive in the course of his duties to the fullest extent permissible under
      applicable law. 

     

    11. MISCELLANEOUS.

     

    11.1. Every
      notice or other communication required or contemplated by this Agreement by
      either party shall be delivered to the other party at the address set forth
      on
      the signature page below by: (i) personal delivery; (ii) postage prepaid, return
      receipt requested, registered or certified mail; (iii) internationally
      recognized express courier, such as Federal Express, UPS or DHL; or (iv)
      facsimile or email with a confirmation copy sent simultaneously by postal mail.
      Notice not given in writing shall be effective only if acknowledged in writing
      by a duly authorized representative of the party to whom it was given. Either
      party may change its or his address for notice from time to time by providing
      written notice in the manner set forth above.

     

    11.2. Attorney
      Fees.  In
      the
      event that any action, suit or other proceeding at law or in equity is brought
      to enforce the provisions of this Agreement, or to obtain money damages for
      the
      breach thereof, and such action results in the award of a judgment for money
      damages or in the granting of any injunction in favor of the Company, then
      all
      reasonable expenses, including, but not limited to, reasonable attorneys’ fees
      and disbursements (including those incurred on appeal) of the Company in such
      action, suit or other proceeding shall (on demand of the Company) forthwith
      be
      paid by Executive. If such action results in a judgment in favor of Executive,
      then all reasonable expenses, including but not limited to, reasonable
      attorney’s fees and disbursements (including those incurred on appeal) of
      Executive in such action, suit or other proceeding shall (on demand of
      Executive) forthwith be paid by the Company.

     

    11.3. Entire
      Agreement. This Agreement
      supersedes all prior agreements, and the terms set forth herein represent the
      entire understanding and agreement between the Company and Executive regarding
      compensation, employment, status and position. It is further understood that
      the
      Company’s policies, procedures and rules may be amended or changed at any time
      by the Company.

     

    11.4. Amendment. This
      Agreement may be modified or amended only if the amendment is made in writing
      and is signed by both parties. This Agreement cannot be altered in any way
      by
      any oral statement(s) made by Executive or the Company.

     

    11.5. Severability. If
      any
      provision(s) of this Agreement shall be held to be invalid or unenforceable
      for
      any reason, the remaining provisions shall continue to be valid and enforceable.
      If a court finds that any provision(s) of this Agreement is invalid or
      unenforceable, but that by limiting such provision it would become valid or
      enforceable, then such provision shall be deemed to be written, construed,
      and
      enforced as so limited.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    11.6. Waiver
      Of Contractual Right. The
      failure of either party to enforce any provision of this Agreement shall not
      be
      construed as a waiver or limitation of that party’s right subsequently to
      enforce and compel strict compliance with every provision of this
      Agreement.

     

    11.7. Applicable
      Law. This
      Agreement shall be governed by the laws of the State of California.

     

    In
      witness whereof, the parties hereto have executed, or caused to be executed,
      this Agreement this 11th day of October, 2006 but as of the day and year first
      above written. 

    

     

    
      	
            	Broadcaster,
              Inc.	
              Executive

            

    

     

    
       

      
        	
              	
                By:
                  /s/ Martin Wade

                      
                  Martin Wade, CEO

              	
                /s/
                  Blair Mills

                     
                  Blair MillsUnassociated Document

    Exhibit
      10.26

    IMSI

    CONTRACT
      FOR CONSULTING SERVICES

    

      
        	
                Name
                  of Consultant (“Consultant”):

              	 	
                Bruce
                  Galloway

              
	 	 	
                Address:   
                  216 E. 47th
                  Street

              
	 	 	
                N.Y.,
                  N.Y. 10017

              
	 	 	
                Phone:       
                  917-405-4591

              
	 	 	
                Fax:            
                  212-397-9728

              
	 	 	 
	
                Contact
                  Person:

              	 	
                Same
                  as above.

              
	 	 	 
	
                Effective
                  Dates of Contract:

              	 	
                July
                  1, 2005 through June 30, 2006

              

      

    

    

    International
      Microcomputer Software, Inc. (“IMSI”) and Consultant each hereby agree as
      follows:

    

    1. Services
      and Fees:

     

    a. The
      Services that Consultant will perform, and the fees which IMSI will pay to
      Consultant in return for those Services, are described in the “Description of
      Work and Fees” attached as Exhibit A to this Contract for Consulting Services
      (“the Contract”).

    

    b. If
      IMSI
      and Consultant anticipate working together on more than one project, additional
      exhibits describing such projects may be made a part of the Contract. Each
      additional exhibit must be signed by both parties to be valid and incorporate
      this Contract by reference.

    

    c. For
      all
      assignments and any other obligations related to the Services, Consultant shall
      keep IMSI informed of the status of work, at such intervals as provided Exhibit
      A or any related exhibit and provide any additional information as reasonably
      requested by IMSI. Upon IMSI’s acceptance of services/work, IMSI will pay
      Consultant as provided in the related exhibit.

    

    d. Consultant
      shall at all times faithfully and diligently perform the Services under this
      Contract and use Consultant’s best efforts, skill, and attention for the
      fulfillment of the Services and in the performance of the work. Except as is
      necessary to provide the Services and directed by IMSI pursuant to Exhibit
      A or
      any other exhibit, Consultant shall have discretion and control of the rendering
      of the Services and the manner in which said Services are performed. Consultant
      shall have no obligation to work any particular hours or days, nor shall
      Consultant be obligated to devote full time to the performance of the Services.
      Subject to the limitations set forth in Paragraph 6, herein,
      Consultant shall have the right to contract with, and perform services on behalf
      of, any other persons, firms, or corporations.

    

    2. Term:
      The
      term of the Contract is for twelve (12) months, unless the Contract is
      terminated by one or both of the parties as provided in Paragraph
      3.

    

    3. Termination:

    

    a. IMSI
      may terminate
      the Contract immediately if Consultant or any of its employees or
      agents:

    

    i. Breaches
      the confidentiality provisions of the Contract;

    

    
      
        
        

      

      
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    ii.
      Is late in the delivery of the Services or if the quality of any
      delivered work is unacceptable; or

    
       

      iii.
        Engages
        in any of the following activities:

    

    ~
      harassment of any IMSI employee, consultant, customer or vendor;

    ~
      use of
      drugs or alcohol on IMSI’s premises or in the performance of the
      Services,

    ~
      any
      illegal conduct;

    ~
      removing or using, without permission, any IMSI equipment, materials or
      property;

    ~
      falsification of information in invoices; or

    ~
      any act
      of dishonesty or constituting a breach of trust.

    

    In
      the
      event that the Contract is terminated by IMSI for any of the above reasons,
      Consultant will be paid only for work delivered and approved by IMSI up to
      the
      date of such termination.

    

    b. IMSI
      may
      terminate the Contract without any reason by giving five (5) days written notice
      to Consultant. If IMSI terminates the Contract for convenience and without
      cause, IMSI will pay Consultant [for 30 days after such a termination, at the
      average daily rate of payment paid to Consultant from the beginning of the
      Contract to the termination date] [the remaining term of the Contract, pursuant
      to the payment terms contained in Exhibit A] [a termination fee of two thousand
      dollars ($2,000)].

    

    c. Consultant
      may terminate the Contract at any time, for any reason, by giving thirty (30)
      days written notice to IMSI. Should Consultant terminate the Contract in this
      manner, Consultant will be paid only for work delivered and approved by IMSI
      up
      to the date of such termination.

    

    4 Relationship
      of Parties:

    

    a. Consultant
      enters into this Contract as, and shall continue to be, an independent
      contractor. Under no circumstances shall Consultant look to IMSI as its
      employer, or as a partner, agent, or principal. Neither Consultant nor
      Consultant’s employees, contract personnel, or agents shall be entitled to any
      benefits otherwise accorded to IMSI’s regular employees, if any, including
      workers’ compensation, disability insurance, health, pension, vacation, or sick
      pay. There shall be no tax withholdings taken from any fees paid to Consultant
      pursuant to this Contract (including, without limitation, FICA, state and
      federal unemployment compensation contributions, and state and federal income
      taxes), and Consultant shall pay, when and as due, any and all taxes incurred
      as
      a result of Consultant’s fees pursuant to this Contract. Upon request,
      Consultant shall provide IMSI with proof of such payment.

     

    b. Consultant
      also understands and agrees that Consultant shall be solely responsible for
      complying with all federal, state, and local laws requiring business permits,
      certificates, and licenses required to carry out the Services to be performed
      under this Contract. Furthermore, Consultant recognizes that it is Consultant’s
      responsibility to obtain compensation insurance coverage for Consultant and
      Consultant’s employees, agents, and contract personnel. Upon request, Consultant
      shall provide IMSI with proof of workers’ compensation coverage for Consultant
      and Consultant’s employees, agents, and contract personnel. Consultant shall
      also be solely  responsible
      for obtaining insurance coverage for Consultant and Consultant’s employees,
      agents, and contract personnel, and Consultant shall provide proof of it to
      IMSI
      upon request.

     

    c. Consultant
      acknowledges that if it is a nonresident alien individual that IMSI may deduct
      U.S. federal income tax from any fees paid hereunder for U.S. income tax
      purposes. This action shall not create, or be construed as creating, an
      employment relationship between IMSI and Consultant.

    

    
      
        
        

      

      
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    d. It
      is
      expressly understood and agreed that Consultant shall only represent IMSI to
      the
      extent authorized by this Contract, and in no other way, and that Consultant
      shall not be an agent of IMSI. In this regard, Contractor shall have no
      authority to enter into any agreements or other binding obligations on IMSI’s
      behalf without the prior written authorization of IMSI, and that Consultant
      shall not hold himself or herself out as the agent or employee of
      IMSI.

    

    e. Consultant
      retains all control and responsibility for any of its employees, agents or
      consultants that it uses in the provision of the Services/work under this
      Contract. Consultant ensure that such individuals perform said work in
      compliance this Contact and any and all exhibits.

    

    5. Indemnification:
      Consultant shall indemnify, defend and hold IMSI harmless from and against
      any
      claim, liability, injury, damages, costs or attorneys’ fees that IMSI incurs as
      a result of the Consultant’s (or Consultant’s agents, representatives or
      employees) negligence, improper conduct, intentional acts or omissions, failure
      to comply with any law, or breach of this Contract, IMSI shall indemnify, defend
      and hold Consultant harmless from and against any claim, liability, injury,
      damages, costs or attorneys’ fees that Consultant incurs as a result of IMSI’s
      (or IMSI’s agents, representatives or employees) negligence, improper conduct,
      intentional acts or omissions, failure to comply with any law, or breach of
      this
      Contract.

    

    6. Confidentiality:

    

    a. Consultant
      (including its agents and employees) will not improperly disclose any IMSI
      Confidential Information (as defined below) and will take all reasonable
      precautions to prevent its unauthorized dissemination, both during and after
      the
      Contract. Consultant will limit the internal distribution of IMSI Confidential
      Information to its employees and agents who have a need to know. Consultant
      will
      not use any IMSI Confidential Information for its own benefit or for the benefit
      of anyone other than IMSI. Consultant will not design or manufacture any
      products, which incorporate any IMSI Confidential Information without the
      express, written consent of IMSI.

    

    b. “IMSI
      Confidential Information” means information relating to the research,
      development, products, methods of manufacture, trade secrets, business plans,
      customers, finances, and personnel data related to the business or affairs
      of
      IMSI, including but not limited to any and all information related to the IMSI
      products. IMSI Confidential Information does not include any information: (i)
      which Consultant knew, through no breach of any other confidentiality
      obligation, before IMSI disclosed it to Consultant; (ii) which has become
      publicly known through no wrongful act of Consultant; or (iii) which Consultant
      developed independently, as evidenced by appropriate documentation, without
      the
      use of any IMSI Confidential Information.

    

    c. All
      IMSI
      Confidential Information remains the property of IMSI and no license or other
      rights in the Confidential Information is granted hereby. All information is
      provided “AS IS” and without any warranty, express, implied, or otherwise,
      regarding its accuracy or performance. Further, upon IMSI’s written request,
      Consultant agrees to return to IMSI all IMSI Confidential Information, including
      but not limited to all computer programs, documentation, notes, plans, drawings,
      and copies thereof.

    

    7. License
      to Use Consultant’s Related Rights:
      As
      applicable, Consultant hereby grants IMSI, and Its subsidiaries, licensees
      and
      affiliates, a royalty-free, irrevocable, perpetually worldwide, non-exclusive
      license to use, disclose, reproduce, modify, license and distribute any rights
      Consultant my have in certain materials, products and courseware that it uses
      in
      performing the Services or work under this Contract “Consultant’s Related
      Rights.” which rights are listed in Exhibit B. Consultant will indemnify, hold
      harmless and, at IMSI’s request, will defend IMSI and its subsidiaries,
      licensees and affiliates from and against all claims, liabilities, damages,
      losses and expenses including, but not limited to reasonable 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    attorneys’
      fees and costs of suit, arising out of or in connection with all claims that
      the
      use or disclosure of Consultant’s Related Rights violates any third party
      rights. During and after the Contract, Consultant will assist IMSI in every
      reasonable way, at IMSI’s expense, to secure, maintain and defend for IMSI’s
      benefit all copyrights, patent rights, mask work rights, trade secret rights
      and
      other applicable proprietary rights in and to work provided by
      Consultant.

     

    8. Miscellaneous:

     

    a. Prohibition
      of Assignment:
      Neither
      Consultant or IMSI may assign or delegate any of its rights or obligations
      under
      the Contract without first obtaining the written consent of the other
      party.

     

    b. Sufficiency
      of Resources:
      Consultant represents that it has sufficient resources to timely and accurately
      perform the Services and work requested under the Contract.

     

    c. Governing
      Law:
      California law will govern the Contract, without regard to its conflict of
      law
      principles.

     

    d. Severability:
      If any
      provision of the Contract is found by a court of competent jurisdiction to
      be
      unenforceable for any reason, the remainder of the Contract shall continue
      in
      full force and effect.

     

    e. Dispute
      Resolution:

     

    i.  Arbitration:
      Except
      for any claim by IMSI that Consultant has breached the terms of Paragraph 6
      of
      the Contract, the parties agree to submit any dispute arising out of or in
      connection with the Contract to binding arbitration in Marin County, California
      before the American Arbitration Association, (“AAA”) under the then standing
      Commercial Arbitration Rules of the AAA. The “prevailing party” if any, in any
      arbitration will be entitled to the recovery of its costs and reasonable
      attorneys’ fees from the other party. Any arbitration shall be final and binding
      and the arbitrator’s order will be enforceable in any court of competent
      jurisdiction. By agreeing to this arbitration provision, each party acknowledges
      that they are waiving their respective rights to a jury trial for any disputes
      relating to all aspects of the relationship between Consultant and IMSI under
      the Contract, with the exception of a breach of Paragraph 6.

     

    ii.  Court
      Action and Equitable Relief:
      Consultant acknowledges that any breach of the confidentiality provisions of
      the
      Contract by Consultant will result in irreparable harm to IMSI. For any claim
      by
      IMSI that Consultant has breached the terms of Paragraph 6 of the Contract,
      IMSI
      shall have the right to assert any claim, demand or suit, including a claim
      for
      injunction or other equitable relief, in any Court of competent jurisdiction.
      In
      the event that IMSI is the “prevailing party” in any action to enforce the
      confidentiality provisions of Paragraph 6 of the Contract, IMSI will be entitled
      to the recovery of its costs and reasonable attorneys’ fees.

     

    iii. Limitation
      of Liability:
      Except
      for any damages arising from Consultant’s breach of Paragraph 6 the Contract,
      neither party shall under any circumstances be liable for any consequential,
      indirect, special, incidental or exemplary damages, including without
      limitation, any loss of revenues, profits, or business or other economic loss
      arising out of or in connection with the services provided hereunder, except
      to
      the extent that such damages are included in a third party claim that gives
      rise
      to a right of indemnification under Paragraph 5 above.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    f. Survival
      of Terms:
      The
      provisions of paragraphs 4, 5, 6, 7, and 8c, 8d and 8e of the Contract shall
      survive any termination of the Contract.

    

    g. Modification:
      Any
      modification of the Contract will be effective only if it is in writing and
      signed by both parties.

    

    h. Entire
      Agreement:
      The
      Contract and the Exhibits attached to the Contract constitute the entire
      agreement between IMSI and Consultant and supersede all prior or contemporaneous
      written or verbal agreements and understandings in connection with the subject
      matter hereof.

    

    

    
      	IMSI	
              CONSULTANT

            

    

    
      	International
              Microcomputer Software, Inc.	
              BRUCE
                GALLOWAY

            

    

    

    
      	By:
              /s/ Robert O’Callahan	
              /s/
                Bruce Galloway

            

    

    

    

    Name:
      ______________________________

     

    Robert
      O’Callahan

    Chief
      Financial Officer

    Title:
      _______________________________

    

    

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

    

    DESCRIPTION
      OF WORK AND FEES

    

    

    1. Name
      of Consultant:
      Bruce
      Galloway

    

    2. Effective
      Dates of Contract:
      July 1,
      1005 through June 30, 2006.

    

    3. Scope
      of Work:
      Consultant shall research, contact, schedule and attend with Martin Wade a
      minimum of 20 meetings resulting in substantial discussions with portfolio
      managers, hedge fund managers and other large instutitional investors of
      interest to IMSI. Consultant shall render such services and spend such time
      as
      may be necessary to fully complete its tasks in a professional
      manner.

    

    4. Invoice
      Submission and Payment:
      Consultant shall submit an invoice for all services rendered at the conclusion
      or each month, containing a detailed list of the hours worked by Consultant
      and
      a summary of the progress made on required tasks. Upon IMSI’s acceptance of
      Consultant’s work, IMSI will pay Consultant’s invoice. IMSI will not
      unreasonably delay acceptance or rejection of Consultant’s work. (IMSI generally
      pays consultants within thirty (30) days after IMSI receives an invoice for
      completed work.)

    

    5. Consultant
      Fees: 
      Monthly
      Payment:
      Upon
      IMSI’s acceptance of Consultant’s work for the previous month, IMSI will pay
      Consultant ten thousand dollars ($10,000.00).

    

    6. Expenses:
      Consultant will not be reimbursed for any expenses incurred in connection with
      this Contract absent prior written approval of IMSI.

    

    7. Equipment:
      Consultant will supply all its own equipment for this Contract.

    

    8. Entire
      Scope of Work:
      This
      Exhibit A contains the entire Scope of Work for Consultant. If a change in
      the
      scope of the work results in a material increase or decrease in the cost or
      time
      for completion of the services, the fees and schedule may be renegotiated upon
      the mutual agreement of the parties. In that event, a new Exhibit A will be
      drafted, signed and attached to the Contract.

    

    This
      Exhibit A incorporates that Contract dated July 1, 2005 herein by this
      reference.

     

    
      
        	AGREED:	
                AGREED:

              

      

    

    
      
        	IMSI	
                CONSULTANT

              

      

      
        	 	 

        	International
                Microcomputer Software, Inc.	
                Bruce
                  Galloway

              

      

      

      
        	By:
                /s/ Robert O’Callahan	
                /s/
                  Bruce Galloway

              

      

      

      

      Name:
        ______________________________

       

      Robert
        O’Callahan

      Chief
        Financial Officer

      Title:
        _______________________________

       

       

      6

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