Document:

Offer Letter

 Exhibit 10.1 
 

 
 August 18, 2008 
 Mr. Steven R. Martin 
  

	RE:	Offer of Employment from BakBone Software, Inc. 

 Dear Steve: 

On behalf of Bakbone Software Incorporated, a Canadian corporation (“Parent”), and BakBone Software, Inc., a California corporation and a
wholly-owned subsidiary of Parent (“BakBone”), we would like to extend an offer of employment (“Agreement”) to you for the position of Senior Vice President-Chief Financial Officer of Parent and of BakBone reporting to Jim
Johnson, President and CEO. Your employer will be Bakbone, but you will also serve as the principal financial and accounting officer of Parent for purposes of the regulations promulgated by the United States Securities and Exchange Commission. Your
employment responsibilities will initially include those listed on Attachment A (Sections I and II) to this Agreement. Your employment commencement date will be August 20, 2008. You (i) acknowledge that you have reviewed Attachment A
(Section III) to this Agreement and (ii) confirm that you meet and/or exceed the qualifications for this position as indicated in such section. 
 Compensation and Benefits 
 As the Senior Vice President – Chief Financial Officer your total
compensation package will be paid up to $325,000 per annum. This will consist of a base salary of $10,416.67.00 per pay period, that is, $250,000.00 per annum, subject to applicable withholdings and deductions, and payable as earned in accordance
with BakBone’s normal payroll policies (the 15th and last working day of the month), and a bonus plan, which will pay up to $75,000.00 based on Company performance and paid quarterly per the current bonus program for achievement of corporate
goals and objectives and your individual performance to the extent agreed to by you and the Company. You will be eligible to participate in this bonus plan effective third quarter, October 1, 2008 per the plan document. 

 In addition to the above, you will be eligible to participate in Parent’s equity incentive plan upon
approval of the Parent’s Board of Directors. Prior to this approval, two events must occur: 1) the Parent has published and brought current all outstanding financial reports; and 2) trading has resumed for the Parent’s securities on any
reputable stock exchange. Resumption of trading is anticipated within 10-12 weeks of the publication and distribution of the Parent’s outstanding financial reports. 
 Further, you will be entitled to earn up to 160 hours paid time off (“PTO”), that is, four weeks, as defined in the revised Paid Time Off policy dated April 1, 2006, during your initial period of
employment. You will also be entitled to one month paid sabbatical leave after five years of employment. 
 You will be entitled to
participate in our employee health and dental benefits programs. Your coverage will begin on September 1, 2008. Additionally, BakBone will carry a $100,000.00 life insurance policy on you under which you will name the beneficiary(ies). Details
of all benefit plans including 401K, Flex Spending and Short Term Disability will be provided to you upon commencement of your employment. 
 Termination Provisions 
 The following provisions shall apply to your employment: If, at any time during your employment with
BakBone, you are terminated for reasons other than cause, you will be entitled to six (6) months’ severance pay of your base salary conditional upon a signed settlement and release agreement. 
 “Cause” shall mean (i) failure to substantially perform your material duties as reasonably directed by BakBone or at a level and in a
fashion commensurate with your position, (ii) refusal to comply with any material direction from BakBone’s President and CEO which is reasonable and consistent with your duties and which would not require you to violate any applicable
legal requirements or ethical standards, (iii) any material breach by you of your other agreements with BakBone or BakBone’s then current employee policies, (iv) conduct which brings BakBone into any material public disgrace or
disrepute; (v) commission of a felony or crime involving moral turpitude or the commission of any other act involving dishonesty, material disloyalty or fraud with respect to BakBone; or (vi) conviction by a court of competent jurisdiction
of, or plea of guilty or nolo contendere to any felony. 
 “Good Reason” shall mean (i) the reduction by BakBone of your base
salary; (ii) the failure by BakBone to pay your base salary or any bonus payments, if, as and when due; (iii) the failure of BakBone to provide you any of the perquisites or benefits specified in this Agreement; (iv) any other failure
of BakBone to perform under this Agreement, which failure continues uncured for a period of thirty (30) days following BakBone’s receipt of written notice thereof from you; (v) any attempt by BakBone to reduce your position 

 
below that of Senior Vice President – Chief Financial Officer, reduce your duties below that which are commensurate with the position of Senior Vice
President – Chief Financial Officer, or assign to you duties which are adversely inconsistent with the position of Senior Vice President – Chief Financial Officer. 
 BakBone is entitled to terminate this Agreement for Cause or without Cause at any time with no less than two (2) days notice. If terminated for
Cause, BakBone shall only be responsible to pay to you any and all base salary and accrued PTO, less all applicable withholdings and deductions, that has been earned prior to the effective date of termination, and, if applicable, payment in lieu of
such notice (“Notice Payment”) of the base salary and accrued PTO amounts entitled to for such two (2) days period. 
 If
employment is terminated without Cause by BakBone and provided that you enter into a settlement and release agreement with BakBone, which agreement shall be negotiated in good faith by both parties, BakBone shall only be responsible to pay to you
(a) any and all base salary and accrued PTO, less all applicable withholdings and deductions, that has been earned prior to the effective date of termination, and (b) six (6) month’s base pay as severance pay, less all applicable
withholdings and deductions. 
 You are entitled to terminate this Agreement for Good Reason or without Good Reason at any time with no less
than two (2) days notice. If employment is terminated for Good Reason by you, and provided that you enter into a settlement and release agreement with BakBone, which agreement shall be negotiated in good faith by both parties, BakBone shall
only be responsible to pay to you (a) any and all base salary and accrued PTO, less all applicable withholdings and deductions, that has been earned prior to the effective date of termination, and (b) six (6) month’s base pay as
severance pay, less all applicable withholdings and deductions. If employment is terminated without Good Reason by you, BakBone shall only be responsible to pay to you any and all base salary and accrued PTO, less all applicable withholdings and
deductions. 
 Upon any termination of employment, you will also remain entitled to reimbursement of all appropriate expenses incurred during
the performance of your employment duties for BakBone. 
 Notwithstanding any of the above in this Termination Provisions section, if your
employment is terminated as described in the Change in Control Letter Agreement that accompanies this Agreement, then this Termination Provisions section is of no force or effect and does not apply and the terms and conditions stated in the Change
of Control Letter Agreement shall be controlling. 

 Arbitration 
 We each agree that, to the extent permitted by law, all claims or disputes between you and BakBone, or its officers, employees or affiliates, will be resolved by final, binding arbitration, in accordance with the
employment dispute resolution rules of American Arbitration Association. This Agreement includes disputes of any nature, including, without limitation, all claims for any alleged unlawful employment practice, discrimination, harassment, termination
of employment, or any other disputes which may hereafter advise. The arbitration provision does not apply, however, to actions to obtain injunctive relief with respect to the accompanying Terms of Employment agreement or to unemployment compensation
or worker’s compensation. You will cooperate with BakBone in selecting a neutral arbitrator. The arbitrator shall apply California law without reference to conflicts of law principles. The arbitration shall be held in San Diego, California. You
and BakBone will be permitted to conduct discovery as would otherwise be permitted pursuant to the California Code of Civil Procedure. BakBone will pay the administrative costs and arbitrator’s fees associated with the arbitration, provided
however, that, unless the arbitrator rules otherwise under the provision below entitled “Attorney’s Fees”, you and BakBone will each bear your own attorneys’ fees and costs associated with the arbitration. The arbitrator may not
modify or change this Agreement in any way unless any provision is found to be unenforceable, in which case the arbitrator may sever it. You understand and agree that the arbitrator’s decision shall be in writing with sufficient explanation to
allow for such meaningful judicial review as may be permitted by law. Any award issued as a result of such arbitration shall be final and binding and shall be enforceable by any court having jurisdiction over the party against whom enforcement is
sought, provided, however, that no action to enforce an arbitration award shall be filed with the court until thirty (30) days has passed after issuance of an award and the award has remained unpaid. You and BakBone acknowledge and understand
that by signing this offer letter and by initialing the arbitration provision, each has read and understood the arbitration provision; each agrees to be bound by it; and each is waiving their respective rights to have a dispute between them
adjudicated by a court or by a jury. 
 ____ (initials of Employee) ____ (initials of BakBone representative) 
 Attorney’s Fees 
 In the event
any legal action is instituted to construe or enforce this Agreement or any provision hereof, the prevailing party shall be entitled to recover reasonable attorneys’ fees, costs and expenses. 
 At-Will Employment 
 At BakBone,
employment is at-will. This means that BakBone or you may terminate your employment at any time, with or without cause or notice. This at-will employment relationship exists regardless of any written statements or policies contained in the employee
handbook or any other Company documents, or any verbal statement to the contrary. This at-will provision cannot be modified except in a written agreement, signed by a Company officer and the employee, specifying a clear intent to alter the at-will
nature of the employment relationship. 

 Other Provisions 
 By accepting this offer of employment you will be required to sign BakBone’s standard corporate personnel acknowledgements, including, but not limited to BakBone’s Terms of Employment agreement as well as
Parent’s Insider Trading Compliance Policy, Code of Business Conduct and Ethics Policy and Bakbone’s Employee Resource Manual that are required of all employees and management. This offer of employment is also conditional in all respects
to verification, as is acceptable to BakBone, including, but not limited to your authorization to work in the United States. BakBone is an equal opportunity employer and does not discriminate based on any category protected by California or Federal
law. All salary, bonuses, and allowances referred to in this Agreement will be considered normal income and will be subject to applicable state and federal income taxes. 
 This Agreement, the Change in Control Letter Agreement and the Indemnification Agreement constitute our complete offer package to recognize your responsibilities, with the understanding that each such agreement is
deemed as a separate and distinct agreement, and thereby exclusive of each other. Any promises or representations, either oral or written, which are not contained in this Agreement and the documents referred to herein, are not valid and are not
binding on BakBone or Parent. This Agreement and the documents referred to herein supersede all prior agreements, express and oral, and negotiations regarding the subject matter stated in this Agreement and the documents referred to herein.

 If these terms are agreeable to you, please sign below and return it to BakBone’s Human Resources department. When accepted, you may
fax this Offer Letter to Cynthia Mendez, Director Global Human Resources (858) 450-6928, but we will still appreciate it if you would also submit the original signed copy to us as well. This offer expires on August 20, 2008 if not signed
and returned to BakBone by the expiration date. 

 We are very happy to make this offer and look forward to working with you! 
 BakBone Software, Inc. and BakBone Software Incorporated 
  

			
	/s/ James R. Johnson	  	this 20th day of August, 2008.
	 James R. Johnson
 President and Chief
Executive Officer
 BakBone Software, Inc. and BakBone Software Incorporated

 Acknowledged, Agreed and Accepted by: 
  

			
	/s/ Steven Martin	  	this 20th day of August, 2008.
	Steven Martin

 Attachment A 
 Chief Financial Officer, SVP 
 Reports to President and CEO 
 Job Description 
 I. Purpose and Scope

 Provide overall strategic and operational direction to the finance, tax, insurance, budget, treasury, and accounting departments. Assist the CEO in
establishing financial strategic objectives as well as operating policies and procedures to ensure attainment of organizational objectives. 
 II. Responsibilities, Specific Duties, and Essential Functions 
  

	 	•	 	 Provide overall financial direction, and set organization-wide objectives, policies, and procedures. 

  

	 	•	 	 Develops and coordinates the implementation of short term and long-term financial strategies to drive performance. 

  

	 	•	 	 Provide leadership to multiple levels of management in finance, accounting, internal audit, human resources, intellectual property and contracts.

	 	•	 	 Provide overall direction to all accounting practices, processes and policies including preparing budgets, financial reports, general accounting, revenue
projections and actuals as well as cost accounting. 

  

	 	•	 	 Provide overall direction and technical guidance to financial planning, forecasting and analysis departments, including directing overall financial plans, policies
and accounting practices; evaluating financial implications and results of revenue, business strategies and proposals; and providing strong financial representation with vision and leadership in collaboration with all business unit leaders.

  

	 	•	 	 Provides oversight to the tax and audit functions. Ensures timely and accurate tax preparation 

  

	 	•	 	 Directs all year-end and interim financial reporting, budgeting and planning processes. 

  

	 	•	 	 Presents financial performance results and outlooks to corporation management as well as external investors. 

  

	 	•	 	 Works directly with the senior management team to evaluate and select acquisition targets, joint venture opportunities and major real estate or capital purchases.

  

	 	•	 	 Supervises investment and raising of funds for business. 

  

	 	•	 	 Ensure all financial transactions, policies and procedures meet regulatory requirements necessary to protect assets 

  

	 	•	 	 Maintain relationships with lending institutions, investors, the financial community and government agencies. 

  

	 	•	 	 Oversee all corporate assets, fiscal operations, and budget forecasts. 

  

	 	•	 	 Report the company’s finances to the CEO, Board of Directors, and financial community. 

 III. Qualifications 
  

	 	•	 	 A minimum of 10 years work experience in a financial capacity to include at least ten years of management experience including senior level executive financial
experience. 

  

	 	•	 	 Masters degree in Accounting, Finance or Business, or equivalent professional qualifications, including, but not limited to certified public accountancy license.

	 	•	 	 Up to date knowledge of current financial and accounting computer applications. 

  

	 	•	 	 Senior financial management experience working in a publicly held company with global operations. 

  

	 	•	 	 Experience in mergers and acquisitions, as well as corporate filings. 

  

	 	•	 	 Excellent interpersonal, communication and analytical skills. 

  

	 	•	 	 In-depth understanding of capital markets.Change in Control Agreement

 Exhibit 10.2 
 

 
 August 18, 2008 
 Mr. Steven R. Martin 
  

	Re:	Change in Control Letter Agreement 

 Dear Steve: 

BakBone Software Incorporated, a Canadian corporation (the “Company”), desires, for its continued success, to have the benefit of experienced management
personnel. The Board of Directors of the Company therefore believes that it is in the best interests of the organization that, in the event of any prospective Change in Control (as hereinafter defined) of the Company, you be reasonably secure in
your employment and position with the Company. In addition, in the event of a Change in Control, the Board of Directors also wants to enable you to exercise independent judgment as to the best interests of the Company and its stockholders without
the distraction of any personal uncertainties or risks regarding your continued employment with the Company. In consideration of the foregoing, we are offering you the additional benefits outlined below: 
 Definition of “Change in Control.” 
 For purposes of this
Change in Control Letter Agreement (“Letter Agreement”), a Change in Control shall consist of any one or more of the following events (whether in a single transaction or a series of related transactions): (i) the consummation of a
merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than fifty percent (50%) of the combined voting power of the continuing or surviving entity’s securities outstanding
immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization; (ii) the sale, transfer or other
disposition of all or substantially all of the Company’s assets; (iii) any transaction as a result of which any person or related group of persons 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 at least fifty percent (50%) of the total voting power represented by the Company’s then outstanding voting securities (other than as a
result of the new issuance of securities by the Company in any transaction or series of related transactions determined by the Board of Directors to be for the primary purpose of raising capital); or (iv) a liquidation or dissolution of the
Company. 

 Notwithstanding the foregoing, a transaction shall not constitute a Change in Control if: (i) its sole purpose is to
change the jurisdiction of the Company’s incorporation; (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before
such transaction; or (iii) following the consummation of the transaction or series of related transactions, members of the Board of Directors of the Company prior to such transaction constitute a majority of the members of the Board of
Directors of the continuing or surviving entity. 
 Change of Control Benefits. 
 If, within twelve (12) months following the consummation of the Change in Control, you are either terminated by the Company (which term shall hereinafter also refer to and include any successor entity) without
Cause (as hereinafter defined) or you voluntarily terminate your employment with the Company for “Good Reason” (as hereinafter defined), and provided you execute a general release in a form provided by the Company at the time of
termination, you will be entitled to receive the following benefits: 
 Severance Benefits. 
 You will be entitled to receive a severance payment in an amount equal to nine (9) months of your then-current
base salary in effect as of the date of such termination (less applicable withholding). At the Company’s discretion, the severance payment may be paid to you in a lump sum or on a periodic basis in accordance with the Company’s regular
payroll practices, provided, however, that all amounts must be paid no later than the 15th day of the third month following the end of the calendar
year in which your termination of employment occurred. 
 Continuation of Benefits. 
 In addition, the Company will provide for the continuation of your healthcare benefits in effect at the time of the termination (including medical, dental and vision) pursuant to COBRA for a nine (9) month period
in the event your severance payment is paid on a periodic basis. If the severance payment is paid in a lump sum, you would be responsible for the conversion and payment of premiums under COBRA. Your receipt of these benefits is conditioned on your
completing all necessary documentation on a timely basis necessary to obtain or maintain such coverage under COBRA. In addition, the Company shall have the authority to delay the provision of any benefits until six (6) months after the date of
your termination to the extent required by Section 409A (or regulations or rulings thereunder) of the Internal Revenue Code of 1986, as amended (the “Code”), as reasonably determined by the Company, and you will be reimbursed for any
premiums or other expenses which you were required to pay during the six (6) month period following the date of termination in order to maintain such benefits. In no event will the Company be obligated by this Letter Agreement to provide more
than nine (9) months of continued healthcare benefits at its own expense. 

 Acceleration of Option Vesting. 
 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you
are terminated by the Company without Cause or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as herein defined will become fully vested and exercisable pursuant to the terms
and conditions of the related Stock Option Agreement. 
 Definition of “Cause.” 
 As used in this Letter Agreement, the term “Cause” shall have the meaning, with respect to the termination of your employment by the Company, expressly set
forth in any then-effective written agreement regarding your employment between you and the Company, or in the absence of such then-effective written agreement and definition, shall mean termination of your employment as a result of your:
(i) performance of any act or failure to perform any act in bad faith and to the detriment of the Company; (ii) dishonesty, intentional misconduct or material breach of any agreement with the Company; or (iii) commission of a crime
involving dishonesty, breach of trust, or physical or emotional harm to any person. 
 Definition of “Good Reason.” 
 As used in this Letter Agreement, the term “Good Reason” shall mean the termination of your employment by you following the occurrence of any of the following
events or conditions (unless otherwise consented to by you, provided that you shall be deemed to have consented to any such event or condition unless you provide written notice of your non-acquiescence within thirty (30) days of the effective
time of such event or condition): (i) a change in your responsibilities or duties which represents a material and substantial diminution in your responsibilities or duties as in effect immediately preceding the consummation of the Change in
Control; (ii) a reduction in your base salary to a level below that in effect at any time within six (6) months preceding the consummation of a Change in Control or at any time thereafter; provided that an across-the-board reduction in the
salary level of substantially all other individuals in positions similar to yours by the same percentage amount shall not constitute such a salary reduction; or (iii) requiring you to be based at any place outside a fifty (50) mile radius
from your job location or residence prior to the Change in Control, except for reasonably required travel on business which is not materially greater than such travel requirements prior to the Change in Control. 
 Notwithstanding anything herein to the contrary, nothing contained in this Letter Agreement shall provide you with any right to be continuously employed by the Company
for any specific period and your employment shall continue to be terminable “at will” for any reason or no reason, with or without Cause or prior notice. 
 Notwithstanding any other provision of this Letter Agreement whatsoever, the Company, in its sole discretion, shall have the right to provide for the application and effects of Section 409A of the Code (relating to deferred
compensation arrangements) and any related administrative guidance issued by the Internal Revenue Service. The Company shall have the authority to delay the payment of any amounts under this Letter Agreement to the extent it deems necessary or
appropriate to comply with Section 409A(a)(2)(B)(i) of the Code (relating to payments made to certain “key employees” of certain publicly-traded companies); in such event, the payment(s) at issue may not be made before the date which
is six (6) months after the date of the termination of your employment or, if earlier, the date of death. In the event the payment(s) are delayed as set forth above, the Company will pay the amount(s) due in a lump sum payment and forego its
right to elect to pay on a periodic basis. 

 The Company shall deduct and withhold from any amounts payable to you hereunder any amounts required to be deducted or
withheld by the Company under the provisions of any applicable federal, state or local statute, law, regulation, ordinance or order (including, without limitation, any applicable excise tax pursuant to Section 4999 of the Code). 
 Miscellaneous. 
 The rights and obligations of the parties hereunder
shall be governed by and interpreted, construed and enforced in accordance with the laws of the State of California without regard to its or any other jurisdiction’s conflict of laws principles. None of your rights or benefits, or obligations
or duties of the Company to you, may be assigned or transferred by you without the consent of the Company. Any provision herein may be modified, terminated or waived only by a written agreement executed by the party against whom enforcement is
sought. If any provision of this Letter Agreement shall be held invalid, the remainder of this Letter Agreement shall not be affected thereby. Each party shall execute and deliver all instruments and documents and take all actions as may be
reasonably required or appropriate to carry out the purposes of this Letter Agreement. This Letter Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all together of which shall constitute one and
the same instrument. This Letter Agreement constitutes the full and entire understanding and agreement between the parties with regard to the subject matter hereof and supersedes any outstanding agreements pertaining to the subject matter hereof.

 We ask that you acknowledge your receipt of this Letter Agreement and your agreement to its terms and conditions by signing and dating this Letter
Agreement within seven days of receipt and return an executed copy to Cynthia Mendez, Director Global Human Resources, BakBone Software, Inc., 9540 Towne Center Drive, San Diego, CA 92121, Fax number: 858-450-6928. 
  

					
	BakBone Software Incorporated	 		 	Acknowledged, agreed and accepted by:
			
	/s/ James R. Johnson	 		 	/s/ Steven R. Martin
	 James R. Johnson
 President and Chief Executive Officer

	 		 	Steven R. Martin
	Date  August 20,
2008                                        
	 		 	Date  August 20,
2008

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]