Document:

ex10_14.htm

EXHIBIT 10.14

SENIOR EXECUTIVE SEVERANCE AGREEMENT

This Senior Executive Severance Agreement (this “Agreement”) is entered into and made effective as of the ____ day of ________, 20____ by and among BIG LOTS STORES, INC., an Ohio corporation (“BLSI”), BIG LOTS, INC., an Ohio corporation and the ultimate parent company of BLSI (“BLI”), and _______________,
an individual residing in the State of ___________ ( “Executive”).

WHEREAS, the Board of Directors of BLSI (the “Board”) believes it is in the best interests of BLSI and its shareholders to assure the continued services of Executive, undiminished by any actual or perceived threat to continued employment that may arise from an actual or
threatened Change in Control (as defined herein) of BLSI or BLI;

WHEREAS, should BLSI or BLI receive any proposal that may result in a Change in Control, the Board believes it imperative that BLSI and the Board be able to rely upon Executive’s continued employment in Executive’s then current position, and that BLSI be able to receive
and rely upon Executive’s advice, if it requests it, as to the best interests of BLSI, BLI and their respective shareholders, without concern that Executive might be distracted by the personal uncertainties and risks created by such a proposal; and

WHEREAS, Executive wishes to continue to serve in Executive’s then current capacity, subject to assurance that in the event of a Change in Control, Executive will have a reasonable degree of financial security;

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, BLSI, BLI and Executive agree as follows:

  

 

  

 

1.           If there is a Change in Control (as defined in Section 3 hereof) and Executive’s employment is thereupon terminated or terminated within twenty four (24) months after the effective date thereof, Executive shall be entitled to the termination benefits set forth in
Section 2 hereof.  For purposes of this Agreement, Executive’s employment shall be deemed to have been terminated only if BLSI terminates such employment other than for Cause or if a Constructive Termination occurs.  “Cause” shall mean Executive’s conviction of a felony, or an act or acts of personal dishonesty on Executive’s part intended to result and resulting in material harm to BLSI, or any refusal by Executive to perform his assigned duties for a period
exceeding ten (10) consecutive business days, other than any such refusal arising from a Constructive Termination or by reason of temporary physical or mental disability or illness.  “Constructive Termination” shall mean a resignation by Executive because of any material adverse change or material diminution in Executive’s reporting relationships, job description, duties, responsibilities, compensation, perquisites, office or location of employment (as reasonably determined by Executive
in his/her good faith discretion); provided, however, that Executive shall notify BLSI in writing at least forty-five (45) days in advance of any election by Executive to terminate his or her employment hereunder, specifying the nature of the alleged adverse change or diminution, and BLSI or BLI, as the case may be, shall have a period of ten (10) business days after the receipt of such notice to cure such alleged adverse change or diminution before Executive
shall be entitled to exercise any such rights and remedies.  Executive shall not be entitled to the benefits available hereunder unless such notice is timely given.  For purposes of this Agreement, any reference to a “termination” (or any form thereof) shall mean a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) by Executive from BLSI, BLI, and any other entity that, along with BLI, would be considered a single employer for purposes
of Sections 414(b) and 414(c) of the Internal Revenue Code of 1986, as amended (the “Code”).

  

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2.          The benefits payable to Executive pursuant to Section 1 hereof are as follows:

A.         BLSI shall pay to Executive a lump sum cash payment, net of any applicable withholding taxes, in an amount equal to two times the annual salary paid or payable to Executive immediately prior to the effective date of such Change in Control (the “Lump Sum Payment”); provided,
however, that if there are fewer than twenty-four (24) months remaining from the date of Executive’s termination to Executive’s normal retirement date under any retirement plan then in effect, BLSI shall instead pay Executive the amount obtained by multiplying the Lump Sum Payment by a fraction, the numerator of which is the number of months so remaining and the denominator of which is twenty-four (24).  The applicable amount shall be paid on the next business day after the day of
Executive’s termination.

B.          In addition to the payment described in Subsection 2.A. above, BLSI shall pay to Executive a lump sum cash payment, net of any applicable withholding taxes, in an amount equal to two times Executive’s then current annual Stretch Bonus, as defined and determined annually
by the Compensation Committee of the BLI Board of Directors (the “Lump Sum Bonus Payment”); provided, however, that (i) in the event Executive’s then current Stretch Bonus is undefined or is not subject to a maximum payout, Executive’s annual Stretch Bonus shall be deemed to be 200% of Executive’s then current base salary and (ii) if there are fewer than twenty-four (24) months remaining from the date of Executive’s termination
to Executive’s normal retirement date under any retirement plan then in effect, BLSI shall instead pay Executive the amount obtained by multiplying the Lump Sum Bonus Payment by a fraction, the numerator of which is the number of months so remaining and the denominator of which is twenty-four (24).  Executive shall receive the Lump Sum Bonus Payment at the same time Executive receives the Lump Sum Payment described in Subsection 2.A. above.

  

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C.          For a period of one year after the date of Executive’s termination, Executive (and his or her family, if their participation is permitted under the terms of the subject plan) shall be entitled to participate in any group life, hospitalization, or disability insurance plan,
health program, or other executive benefit plan (other than bonus compensation or performance plans to the extent that such plans, in the case of Executive, are in lieu of the bonus plan set forth in Subsection 2.B. above) that is generally available to similarly titled executive officers of BLSI; provided, however, that Executive’s participation in the plans referred to in this Subsection 2.C. shall be terminated (other than as provided by law) when
and to the extent that Executive is entitled to receive the same from another employer during such period.  Executive’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan, including, but not limited to, reimbursement of one hundred percent (100%) of all medical and dental expenses incurred during the period of participation in the plans referred to above.  Notwithstanding the
foregoing, with respect to any continued coverage or reimbursement pursuant to this Subsection 2.C., other than with respect to any continued coverage under a group health or hospitalization plan during the applicable COBRA health insurance benefit continuation period described in Section 4980B of the Code:  (i) the amount of expenses eligible for reimbursement or benefits provided during any taxable year of Executive shall not affect the amount of expenses eligible for reimbursement or benefits to
be provided in any other taxable year of Executive, (ii) any such reimbursement shall be made on or before the last day of Executive’s taxable year following the taxable year of Executive in which the expense was incurred, and (iii) the right to such reimbursement or benefits may not be subject to liquidation or exchange for another benefit.

  

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D.          If all or any portion of the amount payable to Executive under this Agreement, either alone or together with other amounts that Executive is entitled to receive in connection with a Change in Control, constitutes “excess parachute payments” within the meaning of
Section 280G of the Code, or any successor provision, that is subject to the excise tax imposed by Section 4999 of the Code (or any similar tax or assessment), the amounts payable hereunder shall be increased to the extent necessary to place Executive in the same after-tax position as Executive would have been in had no such excise tax or assessment been imposed on any such payment paid or payable to Executive under this Agreement or any other payment that Executive may receive as a result of such Change in Control.  The
determination of the amount of any such tax or assessment and the resulting amount of incremental payment required hereby in connection therewith shall be made by the independent accounting firm employed by BLSI immediately prior to the applicable Change in Control, within thirty (30) calendar days after the payment of the amount payable pursuant to Subsections 2.A. and 2.B. hereof, and said incremental payment shall be made by the end of Executive’s taxable year next following the taxable year in which
Executive remits payment of the tax or assessment being grossed-up pursuant to this Subsection.

E.           If, after the date upon which any payment required under this Agreement has been made, it is determined (pursuant to final judgment of a court of competent jurisdiction or an agreed upon tax assessment) that the amount of excise or other similar taxes or assessments payable
by Executive is greater than the amount initially so determined, then BLSI shall pay Executive an amount equal to the sum of (i) such additional excise or other similar taxes, plus (ii) any interest, fines and penalties resulting from such underpayment, plus (iii) an amount necessary to reimburse Executive for any income, excise or other tax or assessment payable by Executive with respect to the amounts specified in (i) and (ii) above, and the reimbursement provided by this clause (iii).  Payment thereof
shall be made by the end of Executive’s taxable year next following the taxable year in which Executive remits payment of the amounts being reimbursed pursuant to this Subsection.

  

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3.           As used herein, “Change in Control” means the first to occur of any of the following events: (i) the acquisition by any person (as defined under Section 409A of the Code), or more than one person acting as a group (as defined in Section 409A of the Code), of
the stock of BLI that, together with the stock of BLI held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of all of the stock of BLI, (ii) the acquisition by any persons, or more than one person acting as a group, within any 12-month period, of the stock of BLI possessing thirty percent (30%) or more of the total voting power of all of the stock of BLI, (iii) a majority of the members of the Board of Directors of BLI is replaced during any
12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board of Directors of BLI prior to the date of the appointment or election, or (iv) the acquisition by any person, or more than one person acting as a group, within any 12-month period, of assets from BLI that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all of the assets of BLI immediately prior to such acquisition or acquisitions.  This
definition of Change in Control under this Section 3 shall be interpreted in a manner that is consistent with the definition of “change in control event” under Section 409A of the Code and the Treasury Regulations promulgated thereunder.  The effective date of any such Change in Control will be the date upon which the last event occurs of the last action is taken such that the definition of Change in Control (as set forth above) has been satisfied.  For the purposes of this Agreement,
the term “affiliate” means any person or entity that, along with BLI, constitutes a single employer under Sections 414(b) and 414(c) of the Code.  Determination of affiliate will be tested as of the date immediately prior to any event constituting a Change in Control.  Notwithstanding the other provisions in this Section 3, the term “Change in Control” will not mean any transaction, merger, consolidation or reorganization in which BLI exchanges or offers to exchange
newly issued or treasury shares in an amount less than fifty percent (50%) of the then-outstanding equity securities of BLI entitled to vote for the election of directors, for fifty-one percent (51%) or more of the outstanding equity securities entitled to vote for the election of at least the majority of the directors of a corporation other than BLI or an affiliate thereof (the “Acquired Corporation”), or for all or substantially all of the assets of the Acquired Corporation.

  

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4.           If Executive hires legal counsel with respect to any alleged failure by BLSI or BLI to comply with any of the terms of this Agreement, or institutes any negotiation or institutes or responds to any legal action to assert or defend the validity of or to enforce Executive’s
rights under, or to recover damages for breach of, this Agreement, BLSI shall pay Executive’s actual expenses for attorneys’ fees and disbursements, together with such additional payments, if any, as may be necessary so that the net after-tax payments so made to Executive equal such fees and disbursements; provided, however, that Executive shall be responsible for his own fees and expenses with respect to any lawsuit between Executive and BLSI
to enforce rights or obligations under this Agreement in which BLSI is the prevailing party.  The fees and expenses incurred by Executive in instituting or responding to any such negotiation or legal action shall be paid by BLSI as they are incurred, in advance of the final disposition of the action or proceeding, upon receipt of an undertaking by Executive to repay such amounts if BLSI is ultimately determined to be the prevailing party.  Notwithstanding the foregoing, (i) any
costs must relate to a claim arising from the alleged breach of any obligation of BLSI under this Agreement [during the lifetime] of Executive, (ii) the amount of expenses eligible for reimbursement or payment, or benefits provided, in any taxable year of Executive may not affect the amount of expenses eligible for reimbursement or payment, or benefits that may be provided, in any other taxable year of Executive, (iii) any payment or reimbursement must be made on or before the last day of Executive’s taxable
year following the taxable year of Executive in which the expense being paid or reimbursed is incurred; and (iv) the right to payment or reimbursement or benefits may not be subject to liquidation or exchange for another benefit.

  

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5.           If any amount due Executive hereunder is not paid when due, then BLSI shall pay interest on said amount at an annual rate equal to the base lending rate of National City Bank, Cleveland, Ohio, or successor, as in effect from time to time, for the period between the date
on which such payment is due and the date said amount is paid.

6.           BLSI’s obligation to pay Executive the compensation and to make the arrangements required hereunder shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, any setoff, counterclaim, recoupment, defense or
other right that BLSI may have against Executive or otherwise.  All amounts payable by BLSI hereunder shall be paid without notice or demand.  Subject to the proviso in Section 1 above, each and every payment made hereunder by BLSI shall be final and BLSI shall not seek to recover all or any part of such payment from Executive or from whosoever may be entitled thereto, for any reason whatsoever.  Executive shall not be obligated to seek other employment or compensation or insurance
in mitigation of any amount payable or arrangement made under any provision of this Agreement, and the obtaining of any such other employment or compensation or insurance, except as otherwise provided in this Agreement, shall in no event effect any reduction of BLSI’s obligations to make the payments and arrangements required to be made under this Agreement.

  

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7.           From and after any termination of Executive’s employment, Executive shall retain in confidence and not use for his own benefit or on behalf of any other person or entity any confidential information known to him concerning BLI, BLSI, their respective subsidiaries
or their respective businesses so long as such information is not publicly disclosed by someone other than Executive.

8.           In partial consideration of the benefits granted to Executive herein, Executive agrees that during the six-month period immediately following Executive’s termination, if Executive shall have received benefits under Section 2 above, Executive shall not engage in any
Competitive Activity.  For purposes of this Agreement, “Competitive Activity” shall mean Executive’s participation, without the approval of the Board or the written consent of the chief executive officer of BLSI, in the management of any business operation of any enterprise if such operation (a “Competitive Operation”) engages in substantial and direct competition with BLSI’s closeout business operation at the date of Executive’s termination.  For
purposes of this Agreement, a closeout business operation shall be considered in substantial and direct competition with BLSI’s closeout business operation if such business operation’s sales of closeout merchandise amount to ten percent (10%) or more of such business operation’s total sales.  Competitive Activity shall not include (i) the mere ownership of securities in any enterprise or (ii) participation in the management of any enterprise or of any business operation thereof, other
than in connection with a Competitive Operation of such enterprise.

 

9.           Any provision in this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provision hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate
or render unenforceable such provision in any other jurisdiction.

  

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10.         Except as specifically set forth herein, this Agreement supersedes and replaces any and all prior Senior Executive Severance Agreements or Executive Severance Agreements between the parties, but shall not be deemed to negate, supersede or alter any other agreement or arrangement
between Executive and BLSI or BLI or any other rights to which Executive may be entitled, and shall be and remain in effect in addition to any such other agreement or rights, whether now existing or later created.

11.         This Agreement shall be effective for a one year period beginning with the effective date hereof (the “Initial Term”) and shall automatically be renewed for successive one year periods commencing on successive anniversaries of the date hereof (each, a “Renewal Term”),
subject to the following conditions:

A.          this Agreement shall be deemed terminated upon any termination or other cessation whatsoever of Executive’s employment for any reason prior to a Change in Control;

B.          this Agreement may be terminated by the mutual agreement of Executive and BLSI;

C.          BLSI may terminate this Agreement at any time effective upon thirty (30) days prior written notice being given; provided, however, that such notice shall be ineffective if a Change in Control shall occur prior to the effective date of such termination.

Notwithstanding anything to the contrary herein, this Agreement shall not be terminated or deemed terminated except by mutual agreement of Executive and BLSI (i) during the first twenty four (24) months after the effective date of a Change in Control or (ii) during any period when BLSI or BLI has knowledge that any third person has taken
steps reasonably calculated to effect a Change in Control, until such third person has abandoned or terminated his or its efforts in connection therewith.  Upon any termination hereof, Executive shall have no further rights hereunder, except to the extent that rights to any benefit have accrued hereunder because of a Change in Control occurring prior to such termination.

  

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12.         In consideration of and as inducement to Executive to enter into this Agreement, BLI hereby absolutely and unconditionally guarantees to Executive the full, complete and timely payment and performance of all obligations of BLSI arising out of or in connection with this Agreement.  This
guaranty shall be enforceable against BLI without any suit or proceeding by Executive against BLSI and without any notice of nonpayment or nonperformance hereunder.

13.         This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors, assigns, heirs and legal representatives.  BLSI shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business or assets of BLSI, by agreement in form and substance satisfactory to Executive, expressly to assume and agree to perform and discharge all obligations of BLSI arising under this Agreement.  All references herein to BLSI shall be deemed to include any such successor.

14.         This Agreement shall in all respects be subject to, governed by and construed in accordance with the laws of the State of Ohio.

  

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15.         Notwithstanding the foregoing, if Executive is a “specified employee,” within the meaning of Treasury Regulation Section 1.409A-1(h) and as determined under BLI’s policy for determining specified employees, on Executive’s date of termination, and Executive
is entitled to a payment and/or benefit under this Agreement that is required to be delayed pursuant to Section 409A(a)(2) of the Code, then such payment or benefit shall not be paid or provided (or begin to be paid or provided) until the first business day of the seventh month following Executive’s date of termination (or, if earlier, Executive’s death).  The first payment that can be made following such postponement period shall include the cumulative amount of any payments or benefits
that could not be paid or provided during such postponement period due to the application of Section 409A(a)(2)(B)(i) of the Code.

16.         This Agreement is intended to comply with, to the extent applicable, Section 409A of the Code and the Treasury Regulations promulgated thereunder, and this Agreement will be interpreted, administered and operated accordingly.  Nothing herein shall be construed as an entitlement
to or guarantee of any particular tax treatment to Executive and none of BLI, BLSI or their respective Board of Directors shall be liable to Executive for failure to comply with the requirements of Section 409A of the Code.  Furthermore, BLSI may accelerate the time or schedule of a payment to Executive if at any time this Agreement fails to meet the requirements of Section 409A of the Code and the Treasury Regulations promulgated thereunder.  Such payment may not exceed the amount required
to be included in income as a result of the failure to comply with the requirements of Section 409A of the Code and the Treasury Regulations promulgated thereunder.

  

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IN WITNESS WHEREOF, this Agreement has been executed as of the day and year first above written.

 

	
ATTEST:
	  	
BIG LOTS, INC.,

	  	  	  	  
	  	  	  	  
	  	  	
By:
	  
	  	  	  	  
	  	  	
Its:
	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
ATTEST:
	  	
BIG LOTS, STORES, INC., an Ohio corporation

	  	  	  	  
	  	  	  	  
	  	  	
By:
	  
	  	  	  	  
	  	  	
Its:
	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	
EXECUTIVE:

	  	  	  	  
	  	  	  	  

 

- 13 -Subscription
Agreement

    

    Sanswire
Corp.

    101 NE
3rd
Ave.

    Suite
1500

    Fort
Lauderdale, FL 33301

    

    Gentlemen:

    

    1.           Subscription. Sanswire Corp., a
Delaware corporation (the “Company”), hereby agrees to issue, and the
undersigned subscriber (the “Purchaser”) hereby agrees to purchase, 1,223,895 shares of
common stock of the Company (the “Shares”), and  the Warrants (defined
below), subject to the terms and conditions set forth herein. The Shares and the
Warrants are being issued by the Company in consideration of the payment of the
Purchase Price (defined below),  the receipt and sufficiency of which
is hereby acknowledged.

    

    (a)           Total
Purchase Price. The total purchase price of the Shares
is  €100,000. The total purchase price shall be paid to TAO
Technologies GmbH with TAO Technologies crediting such payment to Sanswire Corp.
for payments due under the agreement between TAO and GlobeTel/Sanswire Corp. on
or about June 3, 2008.

    

    (b)           Warrants.                                On
the Closing Date (defined below), the Purchaser shall receive the following two
year common stock purchase warrants (collectively, the “Warrants”): one Class A
Warrant to purchase 611,948 shares of the Company’s Common Stock at $.21 per
share and one Class B Warrant to purchase 611,948 shares of the Company’s
Common Stock at $.315 per share, each in the form as annexed hereto as Exhibits
A and B, respectively.  

    

    (c)           Closing.

    

    (i)           Upon
the execution hereof by the parties hereto, the Purchaser shall pay the Purchase
Price  to the Company.  The date of execution of this
Subscription Agreement by the parties hereto shall be referred to herein as the
“Closing Date”.

    

    (ii)           Upon
receipt of the Purchase Price, the Company shall deliver to the Purchaser a
stock certificate for the  Shares and the Warrants, each duly executed
by the Company.

    

     2.           Representations,
Warranties, Covenants and Agreements of the Purchaser. In order to induce
the Company to execute and deliver this Subscription Agreement and to issue and
sell the Shares to the Purchaser, the Purchaser represents and warrants to, and
covenants and agrees with, the Company as follows:

    

    (a)    The Purchaser
acknowledges that the offer, issuance and sale to it of the Shares is intended
by the Company to be exempt from the registration requirements of the Securities
Act of 1933, as amended (the “Act”),  and as such the Shares have not
been registered with the Securities and Exchange Commission (the
“Commission”).

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

             (b)                      The
Purchaser represents and warrants to the Company that the
Purchaser  has had the opportunity to ask questions of, and to receive
answers from the officers and employees of the Company concerning the Company
and its business, affairs and operations, and the transactions contemplated by
this Subscription Agreement. The Purchaser acknowledges that the Company's
officers and employees have answered all inquiries made on behalf of the
Purchaser in connection herewith to the satisfaction of the person or persons
making such inquiry.

    

             (c)                      The
Purchaser represents and warrants to the Company that the Purchaser has such
knowledge and experience in financial and business matters that it is capable of
understanding the information provided to it by the Company and of evaluating
the merits and risks of its investment in the Shares.

    

             (d)                      The
Purchaser represents and warrants to the Company that the Shares are not being
acquired by the Purchaser with a view to, or for resale in connection with, any
“distribution” within the meaning of the Act.

    

              (e)                      The
Purchaser acknowledges that the Shares have not been registered under the Act.
The Purchaser acknowledges and agrees that, as such, the Shares cannot be sold,
assigned, transferred, conveyed, pledged or otherwise disposed of unless they
are registered under the Act or an exemption from such registration is
available. The Purchaser acknowledges that an opinion of legal counsel to the
Company is required in connection with any sale, assignment, transfer,
conveyance, pledge or other disposition of the Shares and that no such opinion
will be given by such legal counsel unless and until such counsel receives
satisfactory evidence that the sale, assignment, transfer, conveyance, pledge or
other disposition of the Shares complies with applicable law (the effective
Registration Statement referred to in Section 4 hereof shall be satisfactory
evidence for such purposes).

    

               (f)                      The
Purchaser acknowledges that any and all certificates representing the Shares or
the Warrants will bear the following legend:

    

    THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE ACT”), OR ANY STATE SECURITIES ACT.
RATHER, THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO
AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE ACT. THE SHARES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, CONVEYED, PLEDGED OR
OTHERWISE DISPOSED OF UNLESS THEY ARE REGISTERED UNDER THE ACT OR AN EXEMPTION
THEREFROM IS AVAILABLE IN THE OPINION OF COUNSEL TO THE ISSUER.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

               (g)           The
Purchaser represents and warrants to the Company that (i) it has full power and
authority to execute and deliver this Subscription Agreement, (ii) this
Subscription Agreement has been duly and validly executed and delivered by the
Purchaser and constitutes the legal, valid and binding obligation of the
Purchaser and (iii) this Subscription Agreement is enforceable against the
Purchaser in accordance with its terms.

    

               (h)           The
Purchaser acknowledges that the Company has offered and may offer to sell its
securities to other purchasers on terms different herefrom, and that the
Purchaser has specifically negotiated the terms of this transaction with the
Company.

    

    3.           Representations,
Warranties, Covenants and Agreements of the
Company.  In order to induce the Purchaser to execute and
deliver this Subscription Agreement and to issue and purchase the Shares and the
Warrants from the Company, the Company represents and warrants to, and covenants
and agrees with, the Purchaser as follows:

    

               (a)           The
Company represents and warrants to the Purchaser that (i) it has full power and
authority to execute and deliver this Subscription Agreement, (ii) this
Subscription Agreement has been duly and validly executed and delivered by the
Company and constitutes the legal, valid and binding obligation of the Company
and (iii) this Subscription Agreement is enforceable against the Company in
accordance with its terms.

    

               (b)           The
Shares, when issued, will be fully paid, validly issued and non-assessable and
the Shares and Warrants will be delivered to Purchaser hereunder free and clear
of all liens, claims and encumbrances whatsoever.  All of the
outstanding Common Stock Purchase Warrants of the Company have terms not
exceeding two years.

    

    

    4.           Registration
Covenant.

    

               (a)           The
Company agrees that, as soon as possible after the filing of its financial
statements, it will file a registration statement (the “Registration Statement”)
with the Commission covering the Shares and the shares underlying the Warrants
(collectively, the “Registered Securities”).  The Purchaser shall
provide the Company with such information concerning the Purchaser as the
Company may reasonably request in connection with the Registration Statement,
including any specific information requested by the Commission.

    

               (b)           The
Company shall bear the entire cost and expense of the preparation and filing of
the Registration Statement pursuant to this Section 4, and all costs and
expenses incurred in connection with maintaining the effectiveness of such
Registration Statement.  Purchaser shall, however, bear the fees of
its counsel and any transfer taxes or underwriting discounts or commissions
applicable to the sale of the Registered Securities pursuant
thereto.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c)    The Company
will use its best efforts to cause the Registration Statement to become
effective as promptly as possible and, if any stop order shall be issued by the
Commission in connection therewith, to use its best efforts to obtain the
removal of such order.

    

    (d)    While any
Registration Statement covering the Registered Securities is effective, the
Company will take all necessary action which may be required in qualifying or
registering the Registered Securities for offering and sale under the Blue Sky
laws of such number of states as are reasonably requested by the Purchaser,
provided that
the Company shall not be obligated to qualify as a foreign corporation to
do business under the laws of any such jurisdiction.

    

    (e)    The Company
shall be required to maintain the effectiveness of the Registration Statement
until the earlier of (i) the public sale of all of the Registered Securities
registered thereunder, or (ii) the expiration of two years from the date such
Registration Statement has been declared effective by the
Commission.  Following the effective date of the Registration
Statement, the Company shall, upon Purchaser’s request, supply Purchaser with
such number of prospectuses meeting the requirements of the Act as shall be
reasonably requested by Purchaser to permit Purchaser to make a public
distribution of the Registered Securities.

    

    (f)    The Company agrees
that until all Registered Securities have been sold pursuant to the Registration
Statement or pursuant to Rule 144 under the Act, it will keep current in filing
all reports and materials required to be filed with the Commission in order to
permit the Purchaser to sell the Registered Securities under Rule
144.

    

    (g)           The
Company shall indemnify and hold Purchaser harmless from and against all losses,
claims, damages and liabilities caused by any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement or any
prospectus included therein or any application or other filing under any State
securities law (or by any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading).

    

    5.           Survival.
  The Purchaser and the Company acknowledge and agree that all
of their representations, warranties, covenants and agreements contained herein
shall survive the Closing Date.

    

    6.           Governing
Law. This
Subscription Agreement shall be governed by, and shall be construed and
interpreted in accordance with the laws of the State of Florida, without giving
effect to the principles of conflicts of law thereof.

    

    7.           Notices.  Any
and all notices and other communications given pursuant to this Subscription
Agreement shall be in writing and shall be deemed to have been duly given when
delivered by hand, receipt acknowledged, or when delivered by registered or
certified mail, postage prepaid, return receipt requested, to the Company and to
the Purchaser at their respective addresses set forth beneath their signatures
below.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    8.            Entire
Agreement. This Subscription
Agreement, together with the exhibits attached hereto, constitutes the entire
agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements, understandings, negotiations and arrangements,
both oral and written, between the parties with respect to such subject matter.
This Subscription Agreement may not be amended or modified in any manner, except
by a written instrument executed by each of the parties hereto.

    

    9.           Benefits:
Binding Effect.   This
Subscription Agreement shall be for the benefit of, and shall be binding upon,
the parties hereto and their respective successors and permitted assigns.
Neither this Subscription Agreement nor any of the rights or obligations of the
parties hereto  shall be assigned in the absence of the written
consent of the non-assigning party.

    

    10.           Jurisdiction
and Venue. Any claim arising out
of, connected with, or in any way related to this Subscription Agreement which
results in litigation shall be instituted and adjudicated in the Federal
District Court for the Southern District of Florida or in the State Court for
Broward County, Florida. In no event shall either party to this Subscription
Agreement contest the personal jurisdiction of such courts over or the venue of
such courts with respect to any such litigation. In the event of any such
litigation, the party prevailing therein shall be reimbursed by the
non-prevailing party for all costs and expenses (including legal fees) incurred
by the prevailing party in connection therewith.

    

    11.           Gender. In this Subscription
Agreement, any reference to the masculine gender shall mean and include the
feminine gender.

    

    12.           Headings.  The
headings contained in this Subscription Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of any or all
of the provisions hereof.

    

    13.           Counterparts.
This Subscription Agreement may be executed in any number of counterparts and by
each of the parties hereto in separate counterparts, each of which shall be
deemed to constitute an original and all of which shall be deemed to constitute
the one and the same instrument.  This Subscription Agreement may be executed by
facsimile transmission, which transmission will be deemed to be an original and
considered fully legal and binding on all of the signatories
hereto.

    

    14.           Absence
of Official Evaluation.
Purchaser understands that no federal or state agency has made any
finding or determination as to the fairness of the terms of an investment in the
Company, nor any recommendation for or endorsement of the Shares offered
hereby.

     

    15.           Additional
Financing. Purchaser further acknowledges that nothing here­under
shall preclude the Company from seeking and/or procuring additional equity
and/or debt financing.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    16.           Nonreliance. Purchaser is not
relying on the Company or any representation contained herein or in the
documents referred to herein with respect to the tax and economic effect of
Purchaser's investment in the Company.

    

    17.No
General Solicitation. Purchaser is not subscribing for the Shares because
of or following any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over
television or radio, or presented at any seminar or meeting, or any solicitation
or a subscription by a person other than an authorized representative of the
Company.

    

    18.Regulation
D Offering.  The offer and issuance of the Shares and Warrants
to the Purchaser is being made pursuant to the exemption from the registration
provisions of the 1933 Act afforded by Section 4(2) or Section 4(6) of the 1933
Act and/or Rule 506 of Regulation D promulgated thereunder. The Company will
provide, at the Company's expense, such legal opinions in the future as are
reasonably necessary for the issuance and resale of the Shares and the shares
issued  upon exercise of the Warrants.

    

    IN WITNESS WHEREOF, the Purchaser and
the Company have executed and delivered this Subscription Agreement as of
October ___, 2008.

    

    INTERNATIONAL
LEGAL CONSULTANTS

    

    

    By:_________________________________

    Name:     
Richard Ritter, Owner

    Address:
Pearl Building 10-02, P.O. Box 40992, Deira, Dubia, U.A.E.

    

    SANSWIRE
CORP.

    

    

    By:_______________________________

    Name:    
Jonathan Leinwand, CEO

     

     

    
      
        
        

      

      
        6

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