Document:

Exhibit
10.1

     

    FIRST
PLACE FINANCIAL CORP.

    2004
INCENTIVE PLAN

    

    First
Place Financial Corp. (the “Holding Company”) hereby establishes the First Place
Financial Corp. 2004 Incentive Plan (the “Plan”) upon the terms and conditions
hereinafter stated.  The purpose of the Plan is to promote the
long-term success of the Holding Company and the creation of shareholder value
by (a) encouraging officers, employees, directors and individuals performing
services for the Holding Company or its Affiliates as consultants or independent
contractors to focus on critical long-range objectives, (b) encouraging the
attraction and retention of officers, employees, directors, consultants and
independent contractors with exceptional qualifications, and (c) linking
officers, employees, directors, consultants and independent contractors directly
to shareholder interests through ownership of the Holding
Company.  The Plan seeks to achieve this purpose by providing for
Awards in the form of options to purchase shares of the Holding Company,
restricted stock or stock appreciation rights.

    

    
      	
              1. 

            	
              DEFINITIONS.

            

    

    

    (a) "Affiliate"
means (i) a member of a controlled group of corporations of which the Holding
Company is a member or (ii) an unincorporated trade or business which is under
common control with the Holding Company as determined in accordance with Section
414(c) of the Code and the regulations issued thereunder. For purposes hereof, a
"controlled group of corporations" shall mean a controlled group of corporations
as defined in Section 1563(a) of the Code determined without regard to Section
1563(a)(4) and (e)(3)(C).

    

    (b) "Alternate
Option Payment Mechanism" refers to one of several methods available to a
Participant to fund the exercise of a stock option set out in Section 11
hereof.  These mechanisms include: broker assisted cashless exercise
and stock for stock exchange.

    

    (c)  "Award"
means a grant of one or some combination of one or more Non-statutory Stock
Options, Incentive Stock Options and Stock Awards under the provisions of this
Plan.

    

    
      (d)
"Bank"
means First Place Bank.

    

    

    (e) "Board
of Directors" or "Board" means the board of directors of the Holding Company or
the Bank and Directors Emeritus of the Holding Company or the Bank.

    

    (f)  "Change
in Control" means a change in control of the Bank or Holding Company of a nature
that; (i) would be required to be reported in response to Item 1 of the current
report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or
15(d) of the Exchange Act; or (ii) results in a Change in Control within the
meaning of the Home Owners' Loan Act of 1933, as amended ("HOLA") and the Rules
and Regulations promulgated by the Office of Thrift Supervision ("OTS") (or its
predecessor agency), as in effect on the date hereof (provided, that in applying
the definition of change in control as set forth under such rules and
regulations the Board shall substitute its judgment for that of the OTS); or
(iii) without limitation such a Change in Control shall be deemed to have
occurred at such time as (A) any "person" (as the term is used in Sections 13(d)
and 14(d) of the Exchange Act) is or becomes the "beneficial owner" (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Bank or the Holding Company representing 25% or more of the Bank's or the
Holding Company's outstanding securities except for any securities of the Bank
purchased by the Holding Company and any securities purchased by any tax
qualified employee benefit plan of the Bank; or (B) individuals who constitute
the Board of Directors of the Holding Company on the date hereof (the "Incumbent
Board") cease for any reason to constitute at least a majority thereof, provided
that any person becoming a director subsequent to the date hereof whose election
was approved by a vote of at least three-quarters of the directors comprising
the Incumbent Board, or whose nomination for election by the Holding Company's
shareholders was approved by a Nominating Committee serving under an Incumbent
Board, shall be, for purposes of this clause (B), considered as though he were a
member of the Incumbent Board; or (C) a plan of reorganization, merger,
consolidation, sale of all or substantially all the assets of the Bank or the
Holding Company or similar transaction occurs in which the Bank or Holding
Company is not the resulting entity.

    
      
         

      

      
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      (g)
"Code"
means the Internal Revenue Code of 1986, as amended.

    

    

    (h) "Committee"
means the Compensation Committee consisting of those members of the Board of
Directors appointed to such committee or consisting solely of two or more
members of the Compensation Committee who are defined as Non-Employee Directors
as such term is defined under Rule 16b-3(b)(3)(i) under the  Exchange
Act as promulgated by the Securities and Exchange Commission.

    

    (i) "Common
Stock" means the Common Stock of the Holding Company, par value, $.01 per share
or any stock exchanged for shares of Common Stock pursuant to Section 15
hereof.

    

    
      (j)
"Date of
Grant" means the effective date of an Award.

    

    

    (k)  "Disability"
means the permanent and total inability by reason of mental or physical
infirmity, or both, of a Participant to perform the work customarily assigned to
him or her or, in the case of a Director, to serve on the
Board.  Additionally, a medical doctor selected or approved by the
Board must advise the Committee that it is either not possible to determine when
such Disability will terminate or that it appears probable that such Disability
will be permanent during the remainder of said Participant's
lifetime.

    

    
      (l)
"Effective
Date" means September 21, 2004, the effective date of the
Plan.

    

    

    (m) "Employee"
means any person who is currently employed by the Holding Company or an
Affiliate, including officers, but such term shall not include Outside
Directors.

    

    
      (n)
"Employee
Participant" means an Employee who holds an outstanding Award under the terms of
the Plan.

    

    

    
      (o)
"Exchange
Act" means the Securities Exchange Act of 1934, as amended.

    

    

    (p) "Exercise
Price" means the purchase price per share of Common Stock deliverable upon the
exercise of each Option in order for the option to be exchanged for shares of
Common Stock.

     

    
      
         

      

      
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    (q) "Fair
Market Value" means, when used in connection with the Common Stock on a certain
date, the last transaction price of the Common Stock quoted for such date by the
National Association of Securities Dealers Automated Quotation System ("NASDAQ")
or the closing price reported by the New York Stock Exchange ("NYSE") or any
other stock exchange (as published by the Wall Street Journal, if published) on
such date or if the Common Stock was not traded on such date, on the next
preceding day on which the Common Stock was traded thereon or the last previous
date on which a sale is reported.  If the Common Stock is not traded
on the NASDAQ, the NYSE or any other stock exchange, the Fair Market Value of
the Common Stock is the value so determined by the Board in good
faith.

    

    (r) "Incentive
Stock Option" means an Option granted by the Committee to a Participant, which
Option is designated by the Committee as an Incentive Stock Option pursuant to
Section 7 hereof and is intended to be such under Section 422 of the
Code.

    

    (s) "Limited
Right" means the right to receive an amount of cash based upon the terms set
forth in Section 8 hereof.

    

    (t)  "Non-statutory
Stock Option" means an Option to a Participant pursuant to Section 6 hereof,
which is not designated by the Committee as an Incentive Stock Option or which
is redesignated by the Committee as a Non-statutory Stock Option or which is
designated an Incentive Stock Option under Section 7 hereof, but does not meet
the requirements of such under Section 422 of the Code.

    

    (u) "Option"
means the right to buy a fixed amount of Common Stock at the Exercise Price
within a limited period of time designated as the term of the option as granted
under Section 6 or 7 hereof.

    

    (v) "Outside
Director" means a member of the Board of Directors or a Director Emeritus of the
Holding Company or its Affiliates, who is not also an Employee.

    

    (w) "Outside
Director Participant" means an Outside Director who holds an outstanding Award
under the terms of the Plan.

    

    (x) "Participant(s)"
means collectively an Employee Participant, an Outside Director Participant
and/or a consultant or independent contractor/advisor Participant who hold(s)
outstanding Awards under the terms of the Plan.

    

    (y) "Performance
Goal" is a specific condition or goal, which may be set by the Committee as a
prerequisite to the vesting of a Stock Award in accordance with Section 9(b)
hereof.

    

    (z) "Retirement"
with respect to an Employee Participant means termination of employment, which
constitutes retirement under any tax-qualified plan maintained by the
Bank.  However, "Retirement" will not be deemed to have occurred for
purposes of this Plan if a Participant continues to serve as a consultant to or
on the Board of Directors of the Holding Company or its Affiliates even if such
Participant is receiving retirement benefits under any retirement plan of the
Holding Company or its Affiliates.  With respect to an Outside
Director Participant, "Retirement" means the termination of service from the
Board of Directors of the Holding Company or its Affiliates following written
notice to the Board as a whole of such Outside Director's intention to retire,
except that an Outside Director Participant shall not be deemed to have
"retired" for purposes of the Plan in the event he continues to serve as a
consultant to the Board or as an advisory director or director emeritus,
including pursuant to any retirement plan of the Holding Company or the
Bank.

    
      
         

      

      
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    (aa)           "Stock
Awards" are Awards of Common Stock which may vest immediately or over a period
of time.  Vesting of Stock Awards under Section 9 hereof may be
contingent upon the occurrence of specified events or the attainment of
specified performance goals as determined by the Committee.

    

    (bb)           "Termination
for Cause" shall mean, in the case of a Director, removal from the Board, or, in
the case of an Employee, termination of employment, in both such cases as
determined by the Board, because of Participant's personal dishonesty,
incompetence, willful misconduct, conduct damaging the reputation of the Bank or
the Holding Company, any breach of fiduciary duty involving personal profit,
intentional failure to perform stated duties, willful violation of any law, rule
or regulation (other than traffic violations or similar offenses) or in the case
of an employee without a written employment agreement with the Bank or Holding
Company, any other grounds provided for under employment policies of the Bank or
Holding Company in effect at the Effective Date or as amended from time to
time.

    

    
      ADMINISTRATION.

    

    

    (a)    The
Plan shall be administered by the Compensation Committee of the Board of
Directors or such other committee the Board may designate.  The
Committee is authorized, subject to the provisions of the Plan, to grant awards
to Employees and establish such rules and regulations as it deems necessary for
the proper administration of the Plan and to make whatever determinations and
interpretations in connection with the Plan it deems necessary or
advisable.  All determinations and interpretations made by the
Committee shall be binding and conclusive on all Employee Participants and
Outside Director Participants in the Plan and on their legal representatives and
beneficiaries.

    

    (b)    Awards
to Outside Directors of the Holding Company or its Affiliates, consultants or
independent contractors shall be granted by the Board or the Committee, pursuant
to the terms of this Plan.

    

    3.        TYPES
OF AWARDS AND RELATED RIGHTS.

    

    The
following Awards and related rights as described below in Paragraphs 6 through
12 hereof may be granted under the Plan:

    

    (a)  Non-statutory
Stock Options

    (b)  Incentive
Stock Options

    (c)  Limited
Rights

    
      (d)
Stock
Awards

    

    

    4.   
    STOCK SUBJECT TO THE
PLAN.

    

    Subject
to adjustment as provided in Section 15 hereof, the maximum number of shares of
Common Stock reserved for Awards under the Plan is 1,000,000
shares.    These shares of Common Stock may be either
authorized but unissued shares or authorized shares previously issued and
acquired or reacquired by the Holding Company, respectively.  To the
extent that Options and Stock Awards are granted under the Plan, the shares
underlying such Awards will be unavailable for any other use including future
grants under the Plan except that, to the extent that Stock Awards or Options
terminate, expire, or are forfeited without having vested or without having been
exercised (or in cases where a Limited Right has been granted in connection with
an option, the amount of such Limited Right received in lieu of the exercise of
such option), new Awards may be made with respect to those shares underlying
such terminated, expired or forfeited Options or Stock Awards.

    
      
         

      

      
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              ·

            	
              ELIGIBILITY.

            

    

    

    Subject
to the terms herein, all Employees and Outside Directors shall be eligible to
receive Awards under the Plan.  In addition, the Committee may grant
Awards to consultants and advisors of the Holding Company or an Affiliate, as it
sees fit.

    

    6.     
  NON-STATUTORY STOCK
OPTIONS.

    

    The
Committee may, subject to the limitations of the Plan and the availability of
shares reserved but unawarded under the Plan, from time to time, grant
Non-statutory Stock Options to Employees, Outside Directors, consultants or
independent contractors, upon such terms and conditions as the Committee may
determine and grant Non-statutory Stock Options in exchange for and upon
surrender of previously granted Awards under this Plan under such terms and
conditions as the Committee may determine.  Non-statutory Stock
Options granted under this Plan are subject to the following terms and
conditions:

    

    (a)  Exercise
Price.  The Exercise Price of each Non-statutory Stock Option
shall be determined by the Committee.  Such Exercise Price shall not
be less than 100% of the Fair Market Value of the Holding Company's Common Stock
on the Date of Grant.  Shares of Common Stock underlying a
Non-statutory Stock Option may be purchased only upon full payment of the
Exercise Price or upon operation of an Alternate Option Payment Mechanism set
out in Section 11 hereof.

    

    (b)  Terms of Non-statutory Stock
Options.  The term during which each Non-statutory Stock Option
may be exercised shall be determined by the Committee, but in no event shall a
Non-statutory Stock Option be exercisable in whole or in part more than 10 years
from the Date of Grant.  The Committee shall determine the date on
which each Non-statutory Stock Option shall become exercisable. The shares of
Common Stock underlying each Non-statutory Stock Option installment may be
purchased in whole or in part by the Participant at any time during the term of
such Non-statutory Stock Option after such installment becomes
exercisable.  The Committee may, in its sole discretion, accelerate
the time at which any Non-statutory Stock Option may be exercised in whole or in
part.  The acceleration of any Non-statutory Stock Option under the
authority of this paragraph shall create no right, expectation or reliance on
the part of any other Participant or that certain Participant regarding any
other unaccelerated Non-statutory Stock Options.  Unless determined
otherwise by the Committee and except in the event of the Participant's death or
pursuant to a domestic relations order, a Non-statutory Stock Option is not
transferable and may be exercisable in his or her lifetime only by the
Participant to whom it is granted.  Upon the death of a Participant, a
Non-statutory Stock Option is transferable by will or the laws of descent and
distribution.

     

    
      
         

      

      
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    The
Committee may, however, in its sole discretion, permit transferability or
assignment of  a Non-statutory Stock Option if such transfer or
assignment is, in its sole determination, for valid estate planning purposes and
such transfer or assignment is permitted under the Code and Rule 16b-3 under the
Exchange Act.  For purposes of this Section 6(b), a transfer for valid
estate planning purposes includes, but is not limited to:  (a) a
transfer to a revocable intervivos trust as to which the Participant is both the
settlor and trustee, (b) a transfer for no consideration to:  (i) any
member of the Participant’s Immediate Family, (ii) any trust solely for the
benefit of members of the Participant’s Immediate Family, (iii) any partnership
whose only partners are members of the Participant’s Immediate Family, and (iv)
any limited liability corporation or corporate entity whose only members or
equity owners are members of the Participant’s Immediate Family, or (c) a
transfer to the First Place Bank Community Foundation.  For purposes
of this Section 6(b), “Immediate Family” includes, but is not necessarily
limited to, a Participant’s parents, grandparents, spouse, children,
grandchildren, siblings (including half brothers and sisters), and individuals
who are family members by adoption.  Nothing contained in this Section
6(b) shall be construed to require the Committee to give its approval to any
transfer or assignment of any Non-statutory Stock Option or portion thereof, and
approval to transfer or assign any Non-statutory Stock Option or portion thereof
does not mean that such approval will be given with respect to any other
Non-statutory Stock Option or portion thereof.  The transferee or
assignee of any Non-statutory Stock Option shall be subject to all of the terms
and conditions applicable to such Non-statutory Stock Option immediately prior
to the transfer or assignment and shall be subject to any other conditions
proscribed by the Committee with respect to such Non-statutory Stock
Option.

    

    (c)    NSO
Agreement.  The terms and conditions of any Non-statutory Stock
Option granted shall be evidenced by an agreement (the "NSO Agreement"), which
shall be subject to the terms and conditions of the Plan. No Award of
Non-statutory Options under the Plan shall be effective until an executed NSO
Agreement is delivered and accepted by a Participant.

    

    (d)  Termination of Employment or
Service.   Unless otherwise determined by the Committee,
upon the termination of a Participant's employment or service for any reason
other than Disability, death or Termination for Cause, the Participant's
Non-statutory Stock Options shall be exercisable only as to those shares that
were immediately exercisable by the Participant at the date of termination and
only for a period of three months following termination, except that in the
event of termination upon Retirement, such Non-statutory Stock Options shall be
exercisable for a period of one year.  Notwithstanding any provisions
set forth herein or contained in any NSO Agreement relating to an award of a
Non-statutory Stock Option, in the event of termination of the Participant's
employment or service for Disability or death, all Non-statutory Stock Options
held by such Participant shall immediately vest and be exercisable for one year
after such termination of service, and, in the event of a Termination for Cause,
all rights under the Participant's Non-statutory Stock Options shall expire
immediately upon such Termination for Cause.

    

    7.     
 INCENTIVE STOCK
OPTIONS.

    

    The
Committee may, subject to the limitations of the Plan and the availability of
shares reserved but unawarded under the Plan, from time to time, grant Incentive
Stock Options to Employees upon such terms and conditions as the Committee may
determine.  Incentive Stock Options granted pursuant to the Plan shall
be subject to the following terms and conditions:

     

    
      
         

      

      
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    (a) Exercise Price. The
Exercise Price of each Incentive Stock Option shall be not less than 100% of the
Fair Market Value of the Common Stock on the Date of Grant. However, if at the
time an Incentive Stock Option is granted to an Employee Participant, such
Employee Participant owns Common Stock representing more than 10% of the total
combined voting securities of the Holding Company (or, under Section 424(d) of
the Code, is deemed to own Common Stock representing more than 10% of the total
combined voting power of all classes of stock of the Holding Company, by reason
of the ownership of such classes of stock, directly or indirectly, by or for any
brother, sister, spouse, ancestor or lineal descendent of such Employee
Participant, or by or for any corporation, partnership, estate or trust of which
such Employee Participant is a shareholder, partner or beneficiary) ("10%
Owner"), the Exercise Price per share of Common Stock deliverable upon the
exercise of each Incentive Stock Option shall not be less than 110% of the Fair
Market Value of the Common Stock on the Date of Grant. Shares may be purchased
only upon payment of the full Exercise Price or upon operation of an Alternate
Option Payment Mechanism set out in Section 11 hereof.

     

    (b) Amounts of Incentive Stock
Options. Incentive Stock Options may be granted to any Employee in such
amounts as determined by the Committee; provided that the amount granted is
consistent with the terms of Section 422 of the Code. In the case of an Option
intended to qualify as an Incentive Stock Option, the aggregate Fair Market
Value (determined as of the time the Option is granted) of the Common Stock with
respect to which Incentive Stock Options granted are exercisable for the first
time by the Employee Participant during any calendar year (under all plans of
the Employee Participant's employer corporation and its parent and subsidiary
corporations) shall not exceed $100,000. The provisions of this Section 7(b)
shall be construed and applied in accordance with Section 422(d) of the Code and
the regulations, if any, promulgated thereunder. To the extent an Award of an
Incentive Stock Option under this Section 7 exceeds this $100,000 limit, the
portion of the Award in excess of such limit shall be deemed a Non-statutory
Stock Option. The Committee shall have discretion to redesignate Options granted
as Incentive Stock Options as Non-Statutory Stock Options. Such Non-statutory
Stock Options shall be subject to Section 6 hereof.

     

    (c) Terms of Incentive Stock
Options. The term during which each Incentive Stock Option may be
exercised shall be determined by the Committee, but in no event shall an
Incentive Stock Option be exercisable in whole or in part more than 10 years
from the Date of Grant. If at the time an Incentive Stock Option is granted to
an Employee Participant who is a 10% Owner, the Incentive Stock Option granted
to such Employee Participant shall not be exercisable after the expiration of
five years from the Date of Grant. No Incentive Stock Option is transferable
except by will or the laws of descent and distribution and is exercisable in his
or her lifetime only by the Employee Participant to whom it is granted. The
designation of a beneficiary does not constitute a transfer.

     

    The
Committee shall determine the date on which each Incentive Stock Option shall
become exercisable. The shares comprising each installment of the Incentive
Stock Option may be purchased in whole or in part at any time during the term of
such Option after such installment becomes exercisable. The Committee may, in
its sole discretion, accelerate the time at which any Incentive Stock Option may
be exercised in whole or in part. The acceleration of any Incentive Stock Option
under the authority of this paragraph shall not create a right, expectation or
reliance on the part of any other Participant or that certain Participant
regarding any other unaccelerated Incentive Stock Options.

     

    (d) ISO Agreement. The
terms and conditions of any Incentive Stock Option granted shall be evidenced by
an agreement (the "ISO Agreement"), which shall be subject to the terms and
conditions of the Plan. No Award of Incentive Stock Options under the Plan shall
be effective until an executed ISO Agreement is delivered and accepted by a
Participant

    
      
         

      

      
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    (e)  Termination of
Employment.  Unless otherwise determined by the Committee, upon
the termination of an Employee Participant's employment for any reason other
than Disability, death or Termination for Cause, the Employee Participant's
Incentive Stock Options shall be exercisable only as to those shares that were
immediately exercisable by the Participant at the date of termination and only
for a period of three months following termination, except that in the event of
termination upon Retirement, such Incentive Stock Options shall be exercisable
for a period of one year.  Notwithstanding any provision set forth
herein or contained in any ISO Agreement relating to an award of an Incentive
Stock Option, in the event of termination of the Employee Participant's
employment for Disability or death, all Incentive Stock Options held by such
Employee Participant shall immediately vest and be exercisable for one year
after such termination, and, in the event of Termination for Cause, all rights
under the Employee Participant's Incentive Stock Options shall expire
immediately upon termination.  No Incentive Stock Option shall be
eligible for treatment as an Incentive Stock Option in the event such Incentive
Stock Option is exercised more than three months following the date of
Participant's cessation of employment, other than on account of Disability or
death.  In no event shall an Incentive Stock  Option be
exercisable beyond the expiration of the Incentive Stock Option
term.

    

    (f)    Compliance with
Code.  The Incentive Stock Options granted under this Section
7  are intended to qualify as "incentive stock options" within the
meaning of Section 422 of the Code, but the Holding Company makes no warranty as
to the qualification of any Option as an incentive stock option within the
meaning of Section 422 of the Code.  All Options that do not so
qualify shall be treated as Non-statutory Stock Options.

    

    8.   
   LIMITED
RIGHT.

    

    Simultaneously
with the grant of any Option to an Employee or Outside Director, the Committee
may grant a Limited Right with respect to all or some of the shares covered by
such Option.  Limited Rights granted under this Plan are subject to
the following terms and conditions:

    

    (a)  Terms of
Rights.  In no event shall a Limited Right be exercisable in
whole or in part before the expiration of six months from the Date of Grant of
the Limited Right.  A Limited Right may be exercised only in the event
of a Change in Control.

    

    The
Limited Right may be exercised only when the underlying Option is eligible to be
exercised, and only when the Fair Market Value of the underlying shares on the
day of exercise is greater than the Exercise Price of the underlying
Option.

    

    Upon
exercise of a Limited Right, the underlying Option shall cease to be
exercisable.  Upon exercise or termination of an Option, any related
Limited Rights shall terminate.  The Limited Rights may be for no more
than 100% of the difference between the purchase price and the Fair Market Value
of the Common Stock subject to the underlying option.  The Limited
Right is transferable only when the underlying option is transferable and under
the same conditions.

    

    (b)  Payment.  Upon
exercise of a Limited Right, the holder shall promptly receive from the Holding
Company an amount of cash equal to the difference between the Exercise Price of
the underlying option and the Fair Market Value of the Common Stock subject to
the underlying Option on the date the Limited Right is exercised, multiplied by
the number of shares with respect to which such Limited Right is
exercised.  Payments shall be less any applicable tax withholding as
set forth in Section 16 hereof.

    
      
         

      

      
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    9.       STOCK
AWARD.

    

    The
Committee may, subject to the limitations of the Plan, from time to time, make
an Award of shares of Common Stock to Employees and Outside Directors ("Stock
Awards").  The Stock Awards shall be made subject to the following
terms and conditions:

    

    (a)  Payment of the Stock
Award.  The Stock Award may only be made in whole shares of
Common Stock.  Stock Awards may only be granted from shares reserved
under the Plan but unawarded at the time the new Stock Award is
made.

    

    (b)  Terms of the Stock
Awards.  The Committee shall determine the dates on which Stock
Awards granted to a Participant shall vest and any specific conditions or
performance goals which must be satisfied prior to the vesting of any
installment or portion of the Stock Award.

    

    (c)   Stock Award
Agreement. The terms and conditions of any Stock Award shall be evidenced
by an agreement (the "Stock Award Agreement") which such Stock Award Agreement
will be subject to the terms and conditions of the Plan.  Each Stock
Award Agreement shall set forth:

    

    (i)  the
period over which the Stock Award will vest; and

    

    (ii) the
performance goals, if any, which must be satisfied prior to the vesting of any
installment or portion of the Stock Award.  The performance goals may
be set by the Committee on an individual level, for all Participants, for all
Awards made during a given period of time, or for all Awards for indefinite
periods.

    

    (d)  Certification of Attainment
of the Performance Goal.  No Stock Award or portion thereof
that is subject to a performance goal is to be distributed to an Employee
Participant until the Committee certifies that the underlying performance goal
has been achieved, or in the case of an Outside Director Participant, until an
independent third party presents a certification to the Board that the
underlying performance goal associated with a Stock Award has been
achieved.

    

    (e)  Termination of Employment or
Service.  Unless otherwise determined by the Committee, upon
the termination of a Participant's employment or service for any reason other
than Disability, death or Termination for Cause, the Participant's unvested
Stock Awards as of the date of termination shall be forfeited and any rights the
Participant had to such unvested Stock Awards shall become null and
void.  Notwithstanding any provisions set forth herein or contained in
any Stock Award Agreement:

    

    (i) in the event of termination of the
Participant's employment or service due to death, all unvested Stock Awards held
by the Participant, including any portion of a Stock Award subject to a
performance goal, shall immediately vest; and

    

    (ii)  in the event of
termination of the Participant's employment or service due to disability, all
unvested Stock Awards held by the Participant, including any portion of a stock
award subject to a performance goal, shall vest (a) on the first day of the
first full month following the date that is six months after the date of
termination if, on the date of termination, Participant is a Specified Employee
as defined in Internal Revenue Code §409A, and such code section and the
associated regulations so require, or (b) on the date of termination if
Participant is not a Specified Employee as defined in Internal Revenue Code
§409A; and

    
      
         

      

      
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    (iii) in the event of the Participant’s
Termination for Cause, the Participant’s unvested Stock Awards as of the date of
such Termination shall be forfeited and any rights the Participant had to such
unvested Stock Awards shall become null and void.

    

    (f)  Non-Transferability.  Except
to the extent permitted by the Code, the rules promulgated under Section 16(b)
of the Exchange Act or any successor statutes or rules:

    

    (i)  The
recipient of a Stock Award shall not sell, transfer, assign, pledge, or
otherwise encumber shares subject to the Stock Award until full vesting of such
shares has occurred.  For purposes of this section, the separation of
beneficial ownership and legal title through the use of any "swap" transaction
is deemed to be a prohibited encumbrance.

    

    (ii)  Unless
determined otherwise by the Committee and except in the event of the
Participant's death or pursuant to a domestic relations order, a Stock Award is
not transferable and may be earned in his or her lifetime only by the
Participant to whom it is granted.  Upon the death of a Participant,
a  Stock Award is transferable by will or the laws of descent and
distribution.  The designation of a beneficiary does not constitute a
transfer.

    

    (iii)  If
a recipient of a Stock Award is subject to the provisions of Section 16 of the
Exchange Act, shares of Common Stock subject to such Stock Award may not,
without the written consent of the Committee (which consent may be given in the
Stock Award Agreement), be sold or otherwise disposed of within six months
following the date of grant of the Stock Award.

    

    (g)  Accrual of
Dividends.  Whenever shares of Common Stock underlying a Stock
Award are distributed to a Participant or beneficiary thereof under the Plan,
such Participant or beneficiary shall also be entitled to receive, with respect
to each such share distributed, a payment equal to any cash dividends or
distributions (other than distributions in shares of Common Stock) and the
number of shares of Common Stock equal to any stock dividends, declared and paid
with respect to a share of the Common Stock if the record date for determining
shareholders entitled to receive such dividends falls between the date the
relevant Stock Award was granted and the date the relevant Stock Award or
installment thereof is distributed.

    

    (h)  Voting of Stock
Awards.  All shares of Common Stock, which have not vested,
shall be voted by the Holding Company, taking into account the best interests of
the recipients of Stock Awards.

    

    10.    
 PAYOUT
ALTERNATIVES.

    

    Payments
due to a Participant upon the exercise or redemption of an Award, may be made
subject to the following terms and conditions:

    

    (a) 
Discretion of the
Committee. The Committee has the sole discretion to determine what form
of payment (whether monetary, Common Stock, a combination of payout alternatives
or otherwise) it shall use in making distributions of payments for all Awards.
If the Committee requests any or all Participants to make an election as to form
of distribution or payment, it shall not be considered bound by the
election.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    (b)    Payment in the form of
Common Stock.  Any shares of Common Stock tendered in
satisfaction of an obligation arising under this Plan shall be valued at the
Fair Market Value of the Common Stock on the day preceding the date of the
issuance of such stock to the Participant.

    

    11.    
ALTERNATE OPTION
PAYMENT MECHANISM.

    

    The
Committee has sole discretion to determine what form of payment it will accept
for the exercise of an Option.  The Committee may indicate acceptable
forms in the ISO or NSO Agreement covering such Options or may reserve its
decision to the time of exercise.  No Option is to be considered
exercised until payment in full is accepted by the Committee or its
agent.

    

    (a)  Cash
Payment.  The exercise price may be paid in cash or by
certified check.

    

    (b)  Borrowed
Funds.  To the extent permitted by law, the Committee may
permit all or a portion of the exercise price of an Option to be paid through
borrowed funds.

    

    (c)  Exchange of Common
Stock.

    

    (i)    The
Committee may permit payment by the tendering of previously acquired shares of
Common Stock but only in instances where the shares to be surrendered have been
held  by the Participant for a period of at least six (6)
months.

    

    (ii)    Any
shares of Common Stock tendered in payment of the exercise price
of  an Option shall be valued at the Fair Market Value of the Common
Stock on the date prior to the date of exercise.

    

    12.    
RIGHTS OF A
SHAREHOLDER: NONTRANSFERABILITY.

    

    No
Participant shall have any rights as a shareholder with respect to any shares of
Common Stock covered by an Option until the date of issuance of a stock
certificate for such shares.  Nothing in this Plan or in any Award
granted confers on any person any right to continue in the employ or service of
the Holding Company or its Affiliates or interferes in any way with the right of
the Holding Company or its Affiliates to terminate a Participant's services as
an officer or other employee at any time.

    

    Except as
permitted under the Code (with respect to Incentive Stock Options) and the rules
promulgated pursuant to Section 16(b) of the Exchange Act or any successor
statutes or rules, no Award under the Plan shall be transferable by the
Participant other than by will or the laws of intestate succession or pursuant
to a domestic relations order or unless determined otherwise by the
Committee.

    

    13.    
AGREEMENT WITH
GRANTEES.

    

    Each
Award will be evidenced by a written agreement(s) (whether constituting an NSO
Agreement, ISO Agreement, Stock Award Agreement or any combination thereof),
executed by the Participant and the Holding Company or its Affiliates that
describes the conditions for receiving the Awards including the date of Award,
the Exercise Price if any, the terms or other applicable periods, and other
terms and conditions as may be required or imposed by the Plan, the Committee,
or the Board, and may describe or specify tax law considerations or applicable
securities law considerations.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    14.
     DESIGNATION OF
BENEFICIARY.

    

    A
Participant may, with the consent of the Committee, designate a person or
persons to receive, in the event of death, any Award to which the Participant
would then be entitled.  Such designation will be made upon forms
supplied by and delivered to the Holding Company and may be revoked in
writing.  If a Participant fails effectively to designate a
beneficiary, then the Participant's estate will be deemed to be the
beneficiary.

    

    15.     
DILUTION AND OTHER
ADJUSTMENTS.

    

    In the
event of any change in the outstanding shares of Common Stock  by
reason of any stock dividend or split, recapitalization, merger, consolidation,
spin-off, reorganization, combination or exchange of shares, or other similar
corporate change, or other increase or decrease in such shares without receipt
or payment of consideration by the Holding Company, or in the event a capital
distribution is made, the Committee will make such adjustments to Awards to
prevent dilution, diminution or enlargement of the rights of the Participant, as
the Committee deems appropriate, including any or all of the
following:

    

    (a)    adjustments
in the aggregate number or kind of shares of Common Stock or other securities
that may underlie future Awards under the Plan;

    

    (b)    adjustments
in the aggregate number or kind of shares of Common Stock or other securities
underlying Awards already made under the Plan;

    

    (c)    adjustments
in the exercise price of outstanding Incentive and/or Non-statutory Stock
Options, or any Limited Rights attached to such Options.

    

           Alternatively,
the Committee could provide the participant with a cash benefit for shares
underlying vested, but unexercised options, in order to achieve the
aforementioned effect.  All awards under this Plan shall be binding
upon any successors or assigns of the Holding Company.

    

    16.   
 TAX
WITHHOLDING.

    

    Awards
under this Plan shall be subject to tax withholding to the extent required by
any governmental authority.  Any withholding shall comply with Rule
16b-3 or any amendment or successive rule.  Shares of Common Stock
withheld to pay for tax withholding amounts shall be valued at their Fair Market
Value on the date the Award is deemed taxable to the Participant.  To
the extent that the Holding Company permits withholding obligations to be met by
the retention of Common Stock to which a Participant otherwise would be entitled
pursuant to an Award, the fair market value of the Common Stock retained for
such purpose shall not exceed the minimum required Federal, state and local tax
withholding due upon exercise of the Award.

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    17. 
    AMENDMENT OF THE
PLAN.

    

    The Board
may at any time, and from time to time, subject to applicable rules and
regulations, modify or amend the Plan, or any Award granted under the Plan, in
any respect, prospectively or retroactively; provided however, that provisions
governing grants of Incentive Stock Options, unless permitted by the rules and
regulations or staff pronouncements promulgated under the Code shall be
submitted for shareholder approval to the extent required by such law,
regulation or interpretation. In no event shall the Board of Directors without
shareholder approval amend the Plan or shall the Committee amend an NSO
Agreement or ISO Agreement in any manner that allows the repricing of any Option
previously granted under the Plan either through a reduction in the Exercise
Price or through the cancellation and re-grant of a new Option in exchange for
the cancelled Option.

    

    Failure
to ratify or approve amendments or modifications by shareholders shall be
effective only as to the specific amendment or modification requiring such
ratification.  Other provisions, sections, and subsections of this
Plan will remain in full force and effect.

    

    No such
termination, modification or amendment may adversely affect the rights of a
Participant under an outstanding Award without the written permission of such
Participant.

    

    18.   
  EFFECTIVE DATE
OF PLAN.

    

    The Plan
shall become effective on the Effective Date, and Awards may be granted as of or
after the Effective Date and prior to termination of the Plan.  The
failure to obtain shareholder ratification which would provide for preferential
tax treatment for Incentive Stock Options will not affect the validity of the
Plan and the Options thereunder, provided, however, that if the Plan is not
ratified and approved by the requisite vote of the outstanding voting shares of
the Holding Company, the Plan shall remain in full force and effect, and any
Incentive Stock Options granted under the Plan shall be deemed to be
Non-statutory Stock Options.

    

    19.   
  TERMINATION OF
THE PLAN.

    

    The right
to grant Awards under the Plan will terminate upon the earlier of: (i) ten (10)
years after the Effective Date; (ii) the issuance of a number of shares of
Common Stock pursuant to the exercise of Options or the distribution of Stock
Awards which together with the exercise of Limited Rights is equivalent to the
maximum number of shares reserved under the Plan as set forth in Section
4.  The Board has the right to suspend or terminate the Plan at any
time, provided that no such action will, without the consent of a Participant,
adversely affect a Participant's vested rights under a previously granted
Award.

    

    20.  
   APPLICABLE
LAW.

    

    The Plan
will be administered in accordance with the laws of the State of Delaware and
applicable federal law.

    

    21.   
  DELEGATION OF
AUTHORITY.

    

    The
Committee may delegate all authority for: the determination of forms of payment
to be made by or received by the Plan; the execution of Award agreements; the
determination of Fair Market Value; and the determination of all other aspects
of administration of the Plan to the executive officer(s) of the Holding Company
or the Bank.  The Committee may rely on the descriptions,
representations, reports and estimates provided to it by the management of the
Holding Company or the Bank for determinations to be made pursuant to the Plan,
including the attainment of performance goals.  However, only the
Committee or a portion of the Committee may certify the attainment of a
performance goal.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    In
Witness Whereof, First Place Financial Corp. originally established this Plan in
accordance with approval by shareholders as of September 21,
2004.  The Board of Directors amended the Plan as of November 16,
2010.

    

    
      
        
          
            
              
                	 	 	FIRST
      PLACE FINANCIAL CORP.	 
	 
      	 
      	 	 
      	 
      
	
                        November
      16, 2010

                      	
                         
      

                      	      
                        By:

                      	
                        s/
      Samuel A. Roth

                      	 
      
	
                        Date

                      	 
      	 	
                        Samuel
      A. Roth

                      	 
      
	 
      	 
      	 	
                        Chairman
      of the Board

                      	 
      
	 
      	 
      	 	 
      	 
      
	
                        ADOPTED
      BY THE BOARD OF DIRECTORS:

                      	 
      	 	 
      	 
      
	 
      	 
      	 	 
      	 
      
	
                        November
      16, 2010

                      	
                         
      

                      	      
                        By: 

                      	
                        s/
      J. Craig Carr

                      	 
      
	
                        Date

                      	 
      	 	
                        J.
      Craig Carr

                      	 
      
	 
      	 
      	 	
                        Secretary

                      	 
      

              

            

          

        

      

    

     

    
      
         

      

      
        14EMPLOYMENT
AGREEMENT

     

    This
EMPLOYMENT AGREEMENT
(the “Agreement”) is dated
as of November 11, 2010 (the “Effective Date”) by
and between AMERICA’S
SUPPLIERS, INC., a Delaware corporation (the “Company”), and MARC JOSEPH (the “Executive”).

     

    WHEREAS, as of the Effective
Date, the Company desires to employ the Executive and to enter into an agreement
embodying the terms of such employment and the Executive desires to accept such
employment and enter into such an agreement on the terms and conditions
contained herein.

     

    NOW, THEREFORE, in
consideration of the premises and mutual covenants herein and for other good and
valuable consideration, the parties agree as follows:

     

    1.          
  Term of
Employment.  Subject to the provisions of Section 5 of this
Agreement, the Executive shall be employed by the Company for a period
commencing on the Effective Date and ending on December 31, 2012 (the “Term”). The Term may be renewed
in accordance with a writing executed by both parties hereto.

     

    2.         
   Position.

     

    (a)            Duties.  The
principal duties of the Executive shall be to serve in the positions of Chief
Executive Officer (CEO) and President of DollarDays International, Inc., a
wholly-owned subsidiary of the Company (“DollarDays”) and CEO
and President of Wow My Universe, Inc., a wholly-owned subsidiary of the Company
(“Wow”).  The
Executive shall have the duties and responsibilities delegated to him by the
Board of Directors of the Company (the “Board”), which shall
be consistent with those duties and responsibilities normally associated with
such positions in corporations of similar size and nature to DollarDays and Wow,
and to render such other services as are reasonably necessary or desirable to
protect and advance the best interests of the Company.

     

    (b)           Devotion of Time to
Company’s Business.  The Executive shall use his best efforts,
skill and abilities to promote and protect the interests of the Company and
DollarDays and Wow, and devote all of his working time and energies to the
business and affairs of the Company and DollarDays and
Wow.  Notwithstanding anything to the contrary contained herein, the
Executive (i) may serve on the boards of additional companies or organizations
and receive compensation for such services rendered; and (ii) may engage in
charitable, civic, fraternal, professional and trade association activities,
provided, however, that in each
such case, the Board shall approve the activities engaged in by the Executive,
such activities do not materially interfere with his obligations to the Company
and DollarDays and Wow and such activities do not materially reduce the amount
of his working time devoted to the business and affairs of the Company and
DollarDays and Wow.

     

    (c)           Directors and Officers
Liability Insurance.  The Executive shall be entitled to the
benefit of any directors and officers insurance coverage which is maintained by
the Company and/or DollarDays and/or Wow and made available to senior executives
of the Company or DollarDays or Wow, as applicable.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.          Compensation and
Benefits.

     

    (a)         Base
Salary.  The Executive shall be paid a base salary during the
Term, in consideration for his services provided to the Company and DollarDays
and Wow, at the rate of $15,000.00 per month, payable in equal installments on
the 1st and
15th
day of each month (“Base
Salary”).

     

    (b)         Bonus.  In
addition to the Base Salary, the Executive shall be eligible to receive bonuses
as follows:

     

    (i)  for
services performed in fiscal year 2010, a cash bonus in the amount of $30,000,
which such amount may be increased by a determination of the Board;

     

    (ii)  for
services performed in fiscal year 2010, the issuance of warrants to purchase
150,000 shares of common stock of the Company, with the terms of such warrants
to be determined by the Board;

     

    (iii)  in
the event the DollarDays achieves 100% of the performance milestones established
and approved by the Board each calendar year (the “Performance
Milestones”), the Executive shall receive an additional $15,000 cash
compensation;

     

    (iv)  in
the event the DollarDays achieves 100% of the Performance Milestones, the
Executive shall receive warrants to purchase 100,000 shares of common stock of
the Company, with the terms of such warrants to be determined by the
Board;

     

    (v)  in
the event the Executive achieves 115% of the Performance Milestones, the
Executive shall receive warrants to purchase an additional 50,000 shares of
common stock of the Company, with the terms of such warrants to be determined by
the Board;

     

    (vi)  in
the event the Executive achieves 125% of the Performance Milestones, the
Executive shall receive warrants to purchase an additional 50,000 shares of
common stock of the Company, with the terms of such warrants to be determined by
the Board; and

     

    (vii)  in
the event the Executive achieves 135% of the Performance Milestones, the
Executive shall receive warrants to purchase an additional 50,000 shares of
common stock of the Company, with the terms of such warrants to be determined by
the Board.

     

    (c)         Additional
Compensation.  In addition to the Base Salary and Bonus payable
to the Executive hereunder and any other compensation payable to the Executive
hereunder, the Executive also shall be entitled to receive additional
compensation, in consideration for his services provided to the Company and
DollarDays and Wow, at such times and in such amounts as shall be determined in
the sole discretion of the Board, as applicable, or any committee of the Board
which determines such compensation.  The Board shall conduct a review
not less than once each year, and such additional compensation, if any, shall be
based on, among other things, the Executive’s and the Company’s
performance.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (d)        
Stock Options,
Restricted Stock Awards, etc.  In addition to the other
compensation payable to the Executive hereunder, the Executive shall also be
entitled to receive grants of stock options, restricted stock and/or any other
equity incentive awards available to senior executives of the Company, under
equity incentive plans adopted by the Company, at such times and in such amounts
as shall be determined in the sole discretion of the Board or any committee of
the Board which determines such equity grants.

     

    (e)      
   Withholding.  All
salaries, bonuses and other benefits payable to the Executive shall be subject
to payroll and withholding taxes as may be required by law.  The
Executive shall be responsible to pay any income taxes with respect to the
Company’s provision of benefits payable or made available to the Executive
hereunder.

     

    (f)          Car Allowance. The
Company will reimburse car payments up to $500.00 per month for one car that is
used by Executive for Company business. The Executive shall be responsible for
payment of any federal or state income tax imposed upon these benefits, if
any.  The Executive must pay all invoices directly and submit an
expense report in order to be reimbursed for these expenses.

     

    4.          Employee Benefits; Business
Expenses.

     

    (a)         Employee
Benefits.  During the Term, the Executive and his dependents
shall be entitled to participate in DollarDays’ welfare benefit plans, fringe
benefit plans and any qualified or non-qualified retirement plans as in effect
from time to time (collectively, the “Employee Benefits”),
on the same basis as those benefits are made available to the other senior
executives of DollarDays, in accordance with DollarDays’ policies as in effect
from time to time.

     

    (b)         Perquisites.  During
the Term, the Executive shall be entitled to receive such perquisites as are
made available to other senior executives of DollarDays or Wow in accordance
with DollarDays’ policies as in effect from time to time.

     

    (c)         Expenses.  The
Executive shall be entitled to reimbursement for reasonable and necessary
business expenses incurred by him in the performance of his duties and
responsibilities hereunder, in accordance with DollarDays’ and Wow’s
reimbursement and expenses policies, as in effect from time to
time.

     

    5.          Termination.

     

    (a)         Definitions.  For
purposes of this Agreement:

     

    “Cause” shall mean (i)
the Executive’s negligence or misconduct in the performance of his material
duties with respect to the Company or DollarDays or Wow, as provided hereunder,
(ii) the conviction by the Executive of a crime constituting a felony or (iii)
the Executive shall have committed any material act of malfeasance, disloyalty,
dishonesty or breach of trust against the Company or DollarDays or
Wow.

     

    “Date of Termination”
shall mean the date the Notice of Termination is given to the respective party;
provided, however, that with
respect to a termination for Cause by the Company or DollarDays or Wow, the Date
of Termination shall not occur prior to the expiration of any applicable cure
period.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    “Disability” shall
mean the Executive has become physically or mentally incapacitated and is
therefore unable for a period of two (2) consecutive months to perform
substantially all of the material elements of his duties
hereunder.  Any question as to whether the Executive has a Disability
as to which he (or his legal representative) and DollarDays and Wow cannot agree
shall be determined in writing by a qualified independent physician mutually
acceptable to the Executive (or his legal representative) and DollarDays or
Wow.  If the Executive (or his legal representative) and DollarDays or
Wow cannot agree as to a qualified independent physician, each shall appoint
such a physician and those two physicians shall select a third who shall make
such determination in writing.  The determination of whether the
Executive has a Disability made in writing to DollarDays or Wow and the
Executive shall be final and conclusive for all purposes of this
Agreement.

     

    “Good Reason” shall
mean (i) a breach by the Company or DollarDays or Wow of any of its material
obligations or covenants set forth in this Agreement, (ii) a material reduction
of the duties or responsibilities of the Executive, (iii) the assignment to the
Executive of any duties or responsibilities that are inconsistent, in any
significant respect, with his position.

     

    “Notice of
Termination” shall mean a notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of employment under the provision so indicated, and shall be
communicated, in writing, to the other party hereto in accordance with the
provisions of Section
10(g) hereafter.

     

    (b)        
By the Company for
Cause or by the Executive Without Good Reason.

     

    (i)  The
Term and the Executive’s employment hereunder may be terminated by the Company,
DollarDays or Wow for Cause, immediately upon the delivery of a Notice of
Termination by the Company to the Executive and shall terminate automatically
upon the Executive’s resignation (other than for Good Reason or due to the
Executive’s death or Disability).

     

    (ii)  If
the Executive’s employment is terminated for Cause, or if the Executive resigns
other than for Good Reason, the Executive shall be entitled to
receive:

     

    (A) any
accrued but unpaid Base Salary through the Date of Termination;

     

    (B)  reimbursement
for any unreimbursed business expenses incurred by the Executive in accordance
with DollarDays’ or Wow’s policy prior to the Date of Termination (with such
reimbursements to be paid promptly after the Executive provides the Company with
the necessary documentation of such expenses to the extent required by such
policy); and

     

    (C)  such
Employee Benefits, if any, as to which he may be entitled upon termination of
employment hereunder (including under the applicable provisions of Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended).

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Following
the Executive’s termination of employment for Cause or if he resigns other than
for Good Reason, except as set forth above or as required by applicable law, the
Executive shall have no further rights to any compensation or any other benefits
under this Agreement.

     

    (c)         Death or
Disability.  The Executive’s employment hereunder shall
terminate upon the Executive’s death and may be terminated, within ten (10) days
after the delivery of a Notice of Termination by the Company, DollarDays or Wow
to the Executive (or his legal representative) in the event of the Executive’s
Disability.  Upon termination of the Executive’s employment hereunder
for either Disability or death, the Executive shall be entitled to receive the
same payments and other items as set forth in clause (ii) of Section 5(b) hereof
and, in addition, accrued but unpaid vacation time, if any.  Following
the Executive’s termination of employment due to death or Disability, except as
set forth herein or as required by applicable law, the Executive shall have no
further rights to any compensation or any other benefits under this
Agreement.

     

    (d)         Termination By Company with
Notice.  The Company, DollarDays or Wow may terminate this
Agreement for any reason or no reason immediately upon written notice to the
other.  In case of termination for any reason, the Company shall pay
Executive severance compensation in the amount of 9 month’s Base Salary without
incentives.

     

    (e)         Payment of Amounts Owed upon
Termination of Employment.  Any amounts payable to the
Executive for accrued but unpaid Base Salary through the Date of Termination
shall be paid within ten (10) business days after the Date of
Termination.

     

    6.           Restrictive Covenants.

     

    (a)          Non-solicitation.   The
Executive agrees that during the Term and for a period of twelve months (12)
months thereafter,
he will not, directly or indirectly including through any other person or entity
(i) solicit, raid, entice or induce any person or entity who is at such time or
was within six (6) months prior to such date, a client or customer of the
Company or DollarDays or Wow to become a customer for, the same or similar
services or products which it received or purchased from the Company or
DollarDays or Wow, for himself or any other person or entity, (ii) approach any
such person or entity for such purpose or authorize or knowingly approve the
taking of such actions by any other person or entity for any other person or
entity, (iii) influence or attempt to influence any client or customer of the
Company or DollarDays or Wow to divert its business or patronage from the
Company or DollarDays or Wow to any other person, (iv) make any statement or do
any act intended to cause existing or potential clients or customers of the
Company or DollarDays or Wow to make use of the services or purchase the
products of any competitive business or (v) hire, solicit, raid, entice or
induce or attempt to induce any employee of the Company or DollarDays or Wow to
be employed by any other person or entity.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (b)         Non-competition.  During
Executive's employment hereunder and, in the event Executive’s employment is
terminated for any reason, for a period of twelve (12) months thereafter without
the prior written consent of the Company, Executive shall not directly or
indirectly engage in a Competitive Business in any country in which the Company
or DollarDays or Wow conducts business.  For the purpose of this
Agreement “Competitive Business” means any business involved in (i) the
development of software programs, (ii) the provision of general merchandise for
resale to businesses through websites, (iii) the Internet wholesale market of
discounted merchandise, (iv) the provision of a one-stop discount shopping
destination for general merchandise for smaller distributors, retailers and
non-profits nationwide seeking single and small cased-sized lots at bulk prices,
(v) the provision of related logistics and customer support and/or (vi) any
additional business conducted by the Company and/or DollarDays and/or Wow, in
the future.  Notwithstanding the foregoing, the Executive may acquire
securities in Competitive Businesses that are publicly-held companies that will
not be significant and that, in any event, will not exceed two percent (2%) of
any outstanding class of equity of any such company

     

    (c)         Confidential
Information.

     

    (i)    Agreement to Preserve
Confidentiality.
The Executive shall maintain in confidence and shall not, either during the Term
or at any time after his employment hereunder, except as permitted under the
terms of this Agreement or as otherwise agreed to by Company, communicate or
disclose to, or use for the benefit of the Executive or any other person or
entity, any proprietary or confidential information, trade secret or know-how
belonging to Company or DollarDays or Wow (collectively, the "Confidential
Information"), whether or not such Confidential Information is in written
or permanent form, except to the extent required to perform his duties described
in this Agreement.  Such Confidential Information includes, but is not
limited to, all business information, trade secrets, information about products,
processes and services, technological information, intellectual property,
confidential records, pricing information, accounting, merchandising, or
marketing information, sales techniques, client, customer or manufacturer lists,
information about client requirements, terms of contracts with suppliers and
clients, internal business procedures, business methods used or developed by or
for the Company or DollarDays or Wow, computer codes, hardware system
information, planning and financial information, product development plans,
marketing plans and future business plans, and Confidential Information of
customers or other third parties that has been disclosed to the Company or
DollarDays or Wow in confidence.  Notwithstanding the foregoing, the
term Confidential Information shall not include any information that (i) is or
becomes in the public domain, including information that is publicly known or
generally utilized by others engaged in the same business as the Company or
DollarDays or Wow, other than as a result of a disclosure in violation of this
Agreement; (ii) is known by the Executive prior to his employment with the
Company, DollarDays or Wow or is developed by Executive outside the scope of his
duties, on behalf of Company or DollarDays or Wow, without using any
Confidential Information; or (iii) is required to be disclosed by the Executive
by law, provided that the Executive shall provide the Company with prompt
written notice of any such requirement so that the Company may seek a protective
order or other appropriate remedy, if it so chooses.  In the event
that such protective order or other remedy is not obtained, or the Company
chooses not to seek such relief, the Executive agrees to furnish only that
portion of the Confidential Information which the Executive is advised by
written opinion of counsel is legally required to be disclosed and the Executive
agrees to exercise his best efforts to obtain assurance that confidential
treatment will be accorded such Confidential Information.  The
foregoing obligations with respect to the Confidential Information extends to
information belonging to customers and suppliers of the Company and DollarDays
and Wow who may have disclosed such information to the Company or DollarDays or
Wow or the Executive as a result of the Executive’s status as an employee of the
Company.  In addition to the foregoing, unless the Executive receives
permission from the Company to do so, he will not: (i) remove any
Confidential Information from the premises of the Company or DollarDays or Wow;
(ii) copy or reverse engineer any Confidential Information; or
(iii) keep any Confidential Information in his possession.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (ii)  Return of
Property.  Upon the termination of the Executive’s employment,
or at any time when so requested by the Company, the Executive agrees to
promptly return all documents of the Company and DollarDays and Wow and any
other property in the Executive’s possession or control belonging to Company or
DollarDays or Wow, and any other materials containing Confidential Information,
including all copies of same, and records, notes, compilations or other matter
relating thereto.

     

    (d)         Ownership of Product Ideas
and Assignment.

     

    (i)    Product
Ideas.  The Executive will maintain current and adequate
written records on the development of, and disclose to Company, all Product
Ideas.  “Product Ideas” shall
mean all ideas, potential marketing and sales relationships, inventions,
copyrightable expressions, research, plans for products or services, marketing
plans, original works of authorship, know-how, trade secrets, information, data,
developments, discoveries, improvements, modifications, technology and designs,
whether or not eligible for patent or copyright protection, made, conceived,
expressed, developed, or actually or constructively reduced to practice by the
Executive solely or jointly with others during the Term and which can reasonably
be used by the Company or DollarDays or Wow in furtherance of their then-current
business.

     

    (ii)  Ownership of Product Ideas
and Assignment.  The Executive acknowledges and agrees that the
Product Ideas and any resulting patents or trademarks shall be the exclusive
property of the Company, DollarDays and Wow and that all of said Product Ideas
shall be considered as "work made for hire" belonging to the Company, DollarDays
and Wow.  To the extent any such Product Ideas, under applicable law,
may not be considered work made for hire by the Executive for the Company,
DollarDays and Wow, the Executive hereby assigns and, upon its creation,
automatically and irrevocably assigns to the Company, DollarDays and Wow,
without any further consideration, all right, title and interest in and to such
Product Ideas, including, without limitation, any copyright, other intellectual
property rights, all contract and licensing rights, and all claims and causes of
action of any kind with respect to such materials.  The Company,
DollarDays and Wow shall have the exclusive right to use the Product Ideas,
whether original or derivative, for all purposes without additional compensation
to the Executive.  At the Company’s, DollarDays’ and Wow’s expense,
the Executive will assist the Company, DollarDays and Wow in every proper way to
perfect the Company’s, DollarDays’ and Wow’s rights in the Product Ideas and to
protect the Product Ideas throughout the world, including, without limitation,
promptly executing and delivering such patent, copyright, trademark or other
applications, assignments, descriptions and other instruments and to take such
actions for and on behalf of the Executive as may be reasonably, necessary, or
proper in the reasonable opinion of the Company, DollarDays and Wow to vest
title to and/or defend or enforce the rights of the Company, DollarDays and Wow
in the Product Ideas.

     

    (e)         Scope.  In
the event any of the provisions of this Section 6 shall be
adjudicated to exceed the time, geographic or other limitations permitted by
applicable law in any jurisdiction, then such provision shall be deemed reformed
in any such jurisdiction to the maximum time, geographic or other limitations
permitted by applicable law.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (f)          Injunctive
Relief.  Without intending to limit the remedies available to
the Company, DollarDays and Wow, the Executive agrees that damages at law will
be an insufficient remedy in the event the Executive violates any of the terms
of this Section
6, and that the Company, DollarDays and Wow may apply for and obtain
immediate injunctive relief in any court of competent jurisdiction to restrain
the breach or threatened breach of, or otherwise to specifically enforce, any of
the agreements and covenants contained herein, without the requirement of having
to post bond.  The parties hereto understand that each of the
agreements and covenants of the Executive contained in those sections are an
essential element of this Agreement and agree that the obligations of the
Executive hereunder will survive the termination of this Agreement.

     

    7.           Representations, Warranties,
Covenants and Indemnification.

     

    (a)          
 Company.

     

    (i)  
        The Company is not a party to
any existing agreement which would preclude or prevent it from entering into
this Agreement with the Executive.

     

    (ii)          The
Company has the full legal right, power and authority to enter into this
Agreement with the Executive and has obtained all necessary approvals from third
parties, to the extent required.

     

    (b)          
Executive.

     

    (i)           The
Executive is not a party to any existing agreement which would preclude or
prevent him from entering into this Agreement with the Company.

     

    (ii)          The
Executive will not use any Product Ideas, the rights to which are owned by any
former employer of the Executive or other person from whom the Executive has not
obtained all required rights, and all Product Ideas developed by the Executive
while employed with the Company, DollarDays and Wow shall be original to the
Executive or developed in corroboration with other employees of the Company,
DollarDays and Wow, and shall not infringe upon the intellectual property rights
of any third party.

     

    
      8.          
Indemnification.

    

     

    (a)         By the
Executive.  The Executive agrees to indemnify and hold the
Company and DollarDays and Wow, and each of their respective officers,
directors, employees, agents and representatives harmless from and against any
losses, claims, damages, liabilities, settlement costs and expenses including,
without limitation, reasonable attorneys’ fees relating to any action or claim
arising from Executive’s breach of any of his representations and warranties
contained herein or the Executive’s acceptance of employment with the Company,
DollarDays and Wow.

     

    (b)         By the
Company.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (i)           The
Company agrees to indemnify and hold the Executive harmless from and against any
losses, claims, damages, liabilities, settlement costs and expenses including,
without limitation, reasonable attorneys’ fees relating to any action or claim
arising from the Company’s breach of any of its representations and warranties
contained herein.

     

    (ii)          The
Company hereby agrees to indemnify and hold the Executive harmless from and
against any losses, claims, damages, liabilities, settlement costs and expenses
including, without limitation, reasonable attorneys’ fees relating to any action
or claim by reason of the fact that he is or was a director, officer or employee
of the Company or DollarDays or Wow, or is or was serving at the request of the
Company or DollarDays or Wow as a director, officer, manager, employee or agent
of another corporation, limited liability company, partnership, joint venture,
trust or other enterprises, to the fullest extent permitted under Delaware law,
as the same exists or may hereafter be amended; and  the Company
further covenants and agrees that it shall, unless not permitted under Delaware
law, advance all attorneys’ fees and costs associated with the indemnification
of the Executive in connection with any such action or proceeding.

     

    9.           Arbitration.  Except
with respect to the restrictive covenants referenced in Section 6 hereof, any
other dispute arising out of or asserting breach of this Agreement, or any
statutory or common law claim by the Executive relating to his employment under
this Agreement or the termination thereof (including any tort or discrimination
claim), shall be exclusively resolved by binding statutory arbitration in
accordance with the Employment Dispute Resolution Rules of the American
Arbitration Association.  Such arbitration process shall take place in
Scottsdale, Arizona.  A court of competent jurisdiction may enter
judgment upon the arbitrator’s award.  Each party shall pay the costs
and expenses of arbitration (including fees and disbursements of counsel)
incurred by such party in connection with any dispute arising out of or
asserting breach of this Agreement.

     

    
      10.        
Miscellaneous.

    

     

    (a)          Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to conflicts
of laws principles thereof.

     

    (b)         Entire
Agreement/Amendments.  This Agreement contains the entire
understanding of the parties with respect to the employment of the Executive by
the Company, DollarDays and Wow.  There are no restrictions,
agreements, promises, warranties, covenants or undertakings between the parties
with respect to the subject matter herein other than those expressly set forth
herein.  This Agreement may not be altered, modified, or amended
except by written instrument signed by the parties hereto.

     

    (c)         No
Waiver.  No waiver of any of the provisions of this Agreement,
whether by conduct or otherwise, in any one or more instances, shall be deemed
or be construed as a further, continuing or subsequent waiver of any such
provision or as a waiver of any other provision of this Agreement.  No
failure to exercise and no delay in exercising any right, remedy or power
hereunder will preclude any other or further exercise of any other right, remedy
or power provided herein or by law or in equity.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (d)           Severability.  In
the event any one or more of the provisions of this Agreement shall be or become
invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement shall not be
affected thereby.

     

    (e)            Assignment.  This
Agreement, and all of the Executive’s rights and duties hereunder, shall not be
assignable or delegable by the Executive; provided, however,
that if the Executive shall die, all amounts then payable to the Executive
hereunder shall be paid in accordance with the terms of this Agreement to the
Executive’s devisee, legatee or other designee or, if there be no such devisee,
legatee or designee, to his estate.  This Agreement may be assigned by
the Company to a person or entity which is an affiliate including, without
limitation, DollarDays and/or Wow, and shall be assigned to any successor in
interest to substantially all of the business operations of the
Company.  Upon such assignment, the rights and obligations of the
Company hereunder shall become the rights and obligations of such affiliate or
successor person or entity. Further, the Company will
require any successor (whether, direct or indirect, by purchase, merger,
consolidation, or otherwise) to all or substantially all of the business and/or
assets of the Company to assume expressly and agree to perform this Agreement in
the same manner and to the same extent the Company would be required to perform
it if no such succession had taken place.  As used in this Agreement,
“Company” shall
mean the Company as defined above and any successor to its business and/or
assets which assumes and agrees to perform this Agreement by operation of law,
or otherwise.

     

    (f)            Notices.  For
the purpose of this Agreement, notices and all other communications provided for
in the Agreement shall be in writing and shall be deemed to have been duly given
when delivered by hand or internationally recognized courier service addressed
to the respective addresses set forth below in this Agreement, or to such other
address as either party may have furnished to the other in writing in accordance
herewith, except that notice of change of address shall be effective only upon
receipt.

     

    If to the
Company:

     

    America’s
Suppliers, Inc.

    7575 E.
Redfield Road

    Suite
201

    Scottsdale,
AZ 85260

    Attention:
Michael Moore

    Fax:
(818) 999-9080

    E-mail:
mmoore@DollarDays.com

    

    With a
copy to:

    

    Ellenoff
Grossman & Schole LLP

    150 East
42nd
Street

    New York,
NY 10017

    Attention:
Barry I. Grossman, Esq.

    Fax:
(212) 370-7889

    E-mail:
bigrossman@egsllp.com

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    If to the
Executive:

    

    To the
most recent address of the Executive set forth in the personnel records of the
Company.

    

    (h)       Prior
Agreements.  This Agreement supersedes all prior agreements and
understandings (including verbal agreements) between the Executive and the
Company, DollarDays and Wow regarding the terms and conditions of the
Executive’s employment with the Company, DollarDays and Wow.

    

    (i)         Cooperation.  The
Executive shall provide his reasonable cooperation in connection with any action
or proceeding (or any appeal from any action or proceeding) which relates to
events occurring during the Executive’s employment hereunder, but only to the
extent the Company requests such cooperation with reasonable advance notice to
the Executive and in respect of such periods of time as shall not unreasonably
interfere with the Executive’s ability to perform his duties with any subsequent
employer; provided, however, the Company shall pay any reasonable travel,
lodging and related expenses that the Executive may incur in connection with
providing all such cooperation, to the extent approved by the Company prior to
incurring such expenses.

    

    (j)           
Execution and
Counterparts.  This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party, it being understood that the
parties need not sign the same counterpart.  In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a
“.pdf” format data file, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

    

    (k)       Fees and
Expenses.  In the event the Company shall fail or refuse to
make or authorize any payment of any amount otherwise due to the Executive
hereunder within the appropriate period of time, then the Company shall
reimburse the Executive for all reasonable expenses (including reasonable
counsel fees) incurred by him in enforcing the terms hereof, within five (5)
business days after demand accompanied by evidence of fees and expenses
incurred.  Any reimbursement hereunder shall be paid to the Executive
promptly and in no event later than the end of his taxable year next following
the taxable year in which the expense was incurred.

     

    [Signature
Page Follows]

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the
parties hereto have duly executed this Agreement as of the day and year first
above written.

    

    
      
        	 
      	
                AMERICA’S SUPPLIERS,
      INC.

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/
      Christopher Baker

              
	 
      	 
      	
                Name:
      Christopher Baker

              
	 
      	 
      	
                Title:
      Chairman of the Board

              
	 
      	 
      
	 
      	
                EXECUTIVE:

              
	 
      	 
      
	 
      	
                /s/  Marc
      Joseph

              
	 
      	
                MARC
      JOSEPH

              

      

    

     

    
      
         

      

      
        12

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