Document:

ex10_8.htm

    
      

    

    Exhibit
      10.8

    OPT00002

    

    REMOTE
      KNOWLEDGE, INC.

    

    STOCK
      OPTION GRANT NOTICE

    UNDER
      THE STOCK OPTION PLAN

    

    Remote
      Knowledge, Inc., a Delaware corporation (the “Company”), pursuant to its Omnibus
      Stock and Incentive Compensation Plan 2006 (the “Plan”) formally adopted by the
      Board of Directors on September 7, 2006, attached, hereby grants to the Optionee
      named below an option to purchase the number of shares of the Company Common
      Stock set forth below.  This option is subject to all of the terms and
      conditions set forth herein and in the attached Stock Option
      Agreement.

    

    Optionee: Steve
      Phelps

    Date
      of Grant: August 13, 2007

    Shares
      Subject to Option: 120,000

    Exercise
      Price Per Share: $0.65

    Expiration
      Date: August 13, 2012

    

    
      	
              £ 
                Incentive Stock Option

            	
              TNon-statutory
                Stock Option

            

    

    

    

    Vesting
      Schedule:  This option shall vest and become exercisable in the
      following installments based on the Optionee’s Continuous Status as an
      Employee.

    

    
      	
              Number
                of Shares (Installment)

            	
              Date
                of Earliest Exercise (Vesting)

            
	
              10,000

            	
              November
                13, 2007

            
	
              10,000

            	
              February
                13, 2008 

            
	
              10,000

            	
              May
                13, 2008         
                

            
	
              10,000

            	
              August
                13, 2008     

            
	
              10,000

            	
              November
                13, 2008

            
	
              10,000

            	
              February
                13, 2009  

            
	
              10,000

            	
              May
                13, 2009         
                

            
	
              10,000

            	
              August
                13, 2009     

            
	
              10,000

            	
              November
                13, 2009

            
	
              10,000

            	
              February
                13, 2010  

            
	
              10,000

            	
              May
                13, 2010         
                

            
	
              10,000

            	
              August
                13, 2010    

            

    

    

    

    In
      addition, this option shall become fully vested pursuant to the terms specified
      in Section 6 of the Plan.

    

    Payment:  Payment
      for options exercised here under shall be made by any method specified in
      Article 6.6 of the Plan.

    

    Additional
      Terms/Acknowledgements:  The Optionee acknowledges receipt of, and
      understands and agrees to, this Grant Notice, the Stock Option Agreement and
      the
      Plan.  Optionee acknowledges that as of the date of grant set forth
      above, this Grant Notice, the Stock Option Agreement and the Plan set forth
      the
      entire understanding between the Optionee and the Company regarding the
      acquisition of stock in the Company and supersede all prior oral and written
      agreements on that subject with the exception of: (1) options previously granted
      and delivered to the Optionee under the Plan, and (2) the following agreements
      only:

    

    

    Other
      Agreements:

    NONE

    
      

    

    
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
      10.8

    OPT00002

     

    
      
        

      

    

    
      	
              REMOTE
                KNOWLEDGE, INC.,  

            	
              Steve
                Phelps  

            
	
              a
                Delaware corporation  

            	   
	   	   
	   	   
	
               By:

            	 	 	
              By:

            	 	 
	   	   
	
              Printed
                Name:   

            	 	 	
              Printed
                Name:   

            	 	 
	   	   
	
              Title:

            	 	 	
              Date:

            	 	 
	   	   
	
              Date:ex10_20.htm

    
      

      

    

    Exhibit
      10.20

    

    Written
      Description of

    2007
      Executive Incentive Compensation Annual Plan

    President
      and Chief Executive Officer

    

    The
      following is a description of the material terms of the 2007 Executive Incentive
      Compensation Annual Plan (the “Plan”) that was adopted by the compensation
      committee of Guaranty Federal Bancshares, Inc. (the “Company”) with respect to
      the bonus payable to Shaun Burke, the Company’s President and Chief Executive
      Officer, for 2007:

    

    The
      Plan
      will pay a maximum of $100,000.  There are three possible levels of
      incentive awards: threshold (25%); target (50%); and maximum
      (100%).  For any amount to be paid, the threshold level of performance
      must be achieved.  The three performance measurements of the Company
      (and the weight given to each measurement) applicable to each award level are:
      net income (50%); assets (30%); and core deposits (20%).  The
      following criteria must all be satisfied before an award is paid under the
      Plan:
      (i) net income of the Company of at least $6,510,000; (ii) satisfactory audits
      as determined by the Board of Directors of the Company including but not limited
      to a CAMELS Bank Examination Rating of 2 or better; (iii) no restatement of
      income for any prior period previously released; (iv) net charge-offs to average
      net loans do not exceed .20%; and (v) satisfactory performance appraisal,
      actively employed by Guaranty Bank, and in good standing at the time the bonus
      is paid.  If the Company’s net income, assets or core deposits for
      2007 are restated in any future periods, the award due or paid under the Plan
      shall be recalculated per the adjustment, and any difference between the
      recalculated award and the award previously paid will be repaid pursuant to
      terms established by the Board of Directors of the Company.  No
      additional amount, however, shall be paid based on the recalculated
      award.ex10_20.htm

    
      

    

    Exhibit
      10.20

    

    Written
      Description of

    2007
      Executive Incentive Compensation Annual Plan

    President
      and Chief Executive Officer

    

    The
      following is a description of the material terms of the 2007 Executive Incentive
      Compensation Annual Plan (the “Plan”) that was adopted by the compensation
      committee of Guaranty Federal Bancshares, Inc. (the “Company”) with respect to
      the bonus payable to Shaun Burke, the Company’s President and Chief Executive
      Officer, for 2007:

    

    The
      Plan
      will pay a maximum of $100,000.  There are three possible levels of
      incentive awards: threshold (25%); target (50%); and maximum
      (100%).  For any amount to be paid, the threshold level of performance
      must be achieved.  The three performance measurements of the Company
      (and the weight given to each measurement) applicable to each award level are:
      net income (50%); assets (30%); and core deposits (20%).  The
      following criteria must all be satisfied before an award is paid under the
      Plan:
      (i) net income of the Company of at least $6,510,000; (ii) satisfactory audits
      as determined by the Board of Directors of the Company including but not limited
      to a CAMELS Bank Examination Rating of 2 or better; (iii) no restatement of
      income for any prior period previously released; (iv) net charge-offs to average
      net loans do not exceed .20%; and (v) satisfactory performance appraisal,
      actively employed by Guaranty Bank, and in good standing at the time the bonus
      is paid.  If the Company’s net income, assets or core deposits for
      2007 are restated in any future periods, the award due or paid under the Plan
      shall be recalculated per the adjustment, and any difference between the
      recalculated award and the award previously paid will be repaid pursuant to
      terms established by the Board of Directors of the Company.  No
      additional amount, however, shall be paid based on the recalculated
      award.ex10_1.htm

    
      
        
        

      

      
        
        

        
          
Return
          to 10-Q

      

      
        
        

      

    

    Exhibit
      10.1

    AMENDMENT
      NO. 9

    TO
      TRADEMARK LICENSE AND TECHNICAL ASSISTANCE AGREEMENT

    

    

    This
      Amendment No. 9, dated October 24, 2007, is to the Trademark License and
      Technical Assistance Agreement, dated January 15, 1998, by and between Latitude
      Licensing Corp. (“Licensor”) and I.C. Isaacs & Company L.P. (“Licensee”), as
      previously amended by Amendment No. 1 on November 12, 1998, Amendment No. 2
      on
      June 21, 2000, Amendment No. 3 on May 31, 2001, Amendment No. 4 on October
      2,
      2002, Amendment No. 5 on March 31, 2003, Amendment No. 6 on October 29, 2003,
      Amendment No. 7 on December 16, 2004 and Amendment No. 8 on March 29, 2006
      (as
      amended, the “Agreement”).  Capitalized terms used herein have the
      meaning ascribed to them in the Agreement unless otherwise
      indicated.

     

    WHEREAS,
      the parties therefore wish to extend the term and scope of the Agreement and
      to
      provide for certain fees as set forth herein.

     

    NOW,
      THEREFORE, for good and valuable consideration, the sufficiency and receipt
      of
      which are hereby acknowledged, the parties agree to amend the Agreement as
      follows:

     

    1.           Section
      2 — Term and Territory

     

    Section
      2.1 of the Agreement, relating to the term and territory, is hereby amended
      by
      adding to the last sentence thereof the following words:

     

    “and,
      thereafter, for an additional term of three (3) years commencing January 1,
      2012
      and ending December 31, 2014”

     

    
      	
              2.  

            	
              Section
                5 — Royalties

            

    

     

    Section
      5.5 of the Agreement, is hereby amended by adding the following to the Minimum
      Royalties table set forth therein:

     

    
      	 	
              Calendar
                Year                              

            	 	
              Minimum
                Royalties

            	 
	 	
              2012

            	 	
              $3,000,000

            	 
	 	
              2013

            	 	
              $3,000,000

            	 
	 	
              2014

            	 	
              $3,000,000

            	 
	 	 	 	 	 

    

    
      	
              3.  

            	
              Effective
                Date

            

    

     

    This
      Amendment No. 9 shall be effective as of the date first written
      above.

     

    
      	
              4.  

            	
              Full
                Force and Effect

            

    

     

    Except
      as
      expressly amended by this Amendment No. 9, the Agreement shall continue in
      full
      force and effect.

     

    
      
              

                  
      
      

                             .              
    

        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties, by their duly authorized representatives,
      have executed this Amendment No. 9 as of the dates indicated below.

     

    
      	
              LATITUDE
                LICENSING CORP.

            	 	
              I.C.
                ISAACS & COMPANY L.P.

            
	 	 	 
	
              By:           /s/
                Serge J.
                Massat

              Name:     
                Serge J. Massat

              Title:        Secretary

              Date:        October
                31, 2007

            	 	
              By:           /s/
                Robert S. Stec

              Name:      Robert
                S.
                Stec                          

              Title:        Chief
                Executive
                Officer              

              Date:        November
                8,
                2007              

            

    

    

     

    
      
              

                  
      
      

                             .              
    

        
        

      

      
        2

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