Document:

www.EXFILE.com      888.775-4789   J2 GLOBAL COMMUNICATIONS, INC.   FORM 8-K

    EXHIBIT
      10.1

    j2
      Global Communications, Inc.

    

    AMENDED
      AND RESTATED

    2001
      EMPLOYEE STOCK PURCHASE

    

     

    1.
       
      ESTABLISHMENT,
      PURPOSE AND TERM OF PLAN.

    

    1.1
       
      ESTABLISHMENT.
      The j2 Global Communications, Inc. 2001 Employee
      Stock Purchase
      Plan
      (the "PLAN") is hereby established effective as of May 7, 2001 (the "EFFECTIVE
      DATE"), subject to the approval by Company shareholders.

    

    1.2
       
      PURPOSE.
      The purpose of the Plan is to advance the interests of Company and its
      stockholders by providing an incentive to attract, retain and reward Eligible
      Employees of the Participating Company Group and by motivating such persons
      to
      contribute to the growth and profitability of the Participating Company Group.
      The Plan provides such Eligible Employees with an opportunity to acquire a
      proprietary interest in the Company through the purchase of Stock. The Company
      intends that the Plan qualify as an "employee
      stock purchase
      plan"
      under Section 423 of the Code (including any amendments or replacements of
      such
      section), and the Plan shall be so construed.

    

    1.3
       
      TERM
      OF
      PLAN. The Plan shall continue in effect until the earlier of its termination
      by
      the Board or the date on which all of the shares of Stock available for issuance
      under the Plan have been issued.

    

    2.
       
      DEFINITIONS
      AND CONSTRUCTION.

    

    2.1
       
      DEFINITIONS.
      Any term not expressly defined in the Plan but defined for purposes of Section
      423 of the Code shall have the same definition herein. Whenever used herein,
      the
      following terms shall have their respective meanings set forth
      below:

    

    (a)
       
      "BOARD"
      means the Board of Directors of the Company. If one or more Committees have
      been
      appointed by the Board to administer the Plan, "BOARD" also means such
      Committee(s).

    

    (b)
       
      "CODE"
      means the Internal Revenue Code of 1986, as amended, and any applicable
      regulations promulgated thereunder.

    

    (c)
       
      "COMMITTEE"
      means the Compensation Committee or other committee of the Board duly appointed
      to administer the Plan and having such powers as shall be specified by the
      Board. Unless the powers of the Committee have been specifically limited, the
      Committee shall have all of the powers of the Board granted herein, including,
      without limitation, the power to amend or terminate the Plan at any time,
      subject to the terms of the Plan and any applicable limitations imposed by
      law.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (d)
       
      "COMPANY"
      means j2 Global Communications, Inc., a Delaware corporation, or any
      Successor.

    

    (e)                
      "COMPENSATION"
      means, with respect to any Offering Period, all salary, wages (including amounts
      elected to be deferred by the employee, that would otherwise have been paid,
      under any cash or deferred arrangement established by the Company) and overtime
      pay, but excluding commissions, bonuses, profit sharing, the cost of employee
      benefits paid for by the Company, education or tuition reimbursements, imputed
      income arising under any Company group insurance or benefit program, traveling
      expenses, business and moving expense reimbursements, income received in
      connection with stock options, contributions made by the Company under any
      employee benefit plan, and similar items of compensation. Compensation shall
      also include payments while on a leave of absence during which participation
      continues pursuant to Section 2.1(g) to such extent as may be provided by the
      Company's leave policy.

    

    (f)                 "ELIGIBLE
      EMPLOYEE" means an Employee who meets the requirements set forth in Section
      5
      for eligibility to participate in the Plan.

    

    (g)                "EMPLOYEE"
      means a person treated as an employee of a Participating Company for purposes
      of
      Section 423 of the Code. A Participant shall be deemed to have ceased to be
      an
      Employee either upon an actual termination of employment or upon the corporation
      employing the Participant ceasing to be a Participating Company. For purposes
      of
      the Plan, an individual shall not be deemed to have ceased to be an Employee
      while on any military leave or other leave of absence approved by the Company
      of
      ninety (90) days or less. If an individual's leave of absence exceeds ninety
      (90) days, the individual shall be deemed to have ceased to be an Employee
      on
      the ninety-first (91st) day of such leave unless the individual's right to
      reemployment with the Participating Company Group is guaranteed either by
      statute or by contract.

    

    (h)               
      "FAIR
      MARKET VALUE" means, as of any date: 

    

    (i) If
      the
      Stock is listed on any established stock exchange or traded on the Nasdaq
      National Market or the Nasdaq SmallCap Market, the Fair Market Value of a share
      of Stock shall be the closing sales price for such stock (or the closing bid,
      if
      no sales were reported) as quoted on such exchange or market (or if the stock
      is
      traded on more than one exchange or market, the exchange or market with the
      greatest volume of trading in the Stock) on the day of determination, as
      reported in THE WALL STREET JOURNAL or such other source as the Board deems
      reliable. In the absence of such markets for the Stock, the Fair Market Value
      shall be determined in good faith by the Board.

    

    (ii) 
      For
      purposes of this Plan, if the date as of which the Fair Market Value is to
      be
      determined is not a market trading day, then solely for the purpose of
      determining Fair Market Value such date shall be the last market trading day
      prior to the Purchase Date.

    

    (i)                 
      "OFFERING"
      means an offering of Stock as provided in Section 6.

     

     

    
      
        
        

      

      
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    (j)                 
      "OFFERING
      DATE" means, for any Offering, the first day of the Offering
      Period.

    

    (k)                
      "OFFERING
      PERIOD" means a period established in accordance with Section 6.

    

    (l)                
       "PARENT
      CORPORATION" means any present or future "parent corporation" of the Company,
      as
      defined in Section 424(e) of the Code.

    

    (m)               
      "PARTICIPANT"
      means an Eligible Employee who has become a participant in an Offering Period
      in
      accordance with Section 7 and remains a participant in accordance with the
      Plan.

    

    (n)                
      "PARTICIPATING
      COMPANY" means the Company and any Parent Corporation or Subsidiary Corporation
      designated by the Board as a corporation the Employees of which may, if Eligible
      Employees, participate in the Plan. The Board shall have the sole and absolute
      discretion to determine from time to time which Parent Corporations or
      Subsidiary Corporations shall be Participating Companies.

    

    (o)                
      "PARTICIPATING
      COMPANY GROUP" means, at any point in time, the Company and all other
      corporations collectively which are then Participating Companies.

    

    (p)                
      "PURCHASE
      DATE" means, for any Offering, the last day of the Offering Period; provided,
      however, that the Board in its discretion may establish one or more additional
      Purchase Dates during any Offering Period.

    

    (q)                
      "PURCHASE
      PRICE" means the price at which a share of Stock may be purchased under the
      Plan, as determined in accordance with Section 9.

    

    (r)                 
      "PURCHASE
      RIGHT" means an option granted to a Participant pursuant to the Plan to purchase
      such shares of Stock as provided in Section 8, which the Participant may or
      may
      not exercise during the Offering Period in which such option is outstanding.
      Such option arises from the right of a Participant to withdraw any accumulated
      payroll deductions of the Participant not previously applied to the purchase
      of
      Stock under the Plan and to terminate participation in the Plan during an
      Offering Period, in accordance with such rules and procedures as may be
      established by Board.

    

    (s)                
      "SPINOFF
      TRANSACTION" means a transaction in which the voting stock of an entity in
      the
      Participating Company Group is distributed to the shareholders of a parent
      corporation as defined by Section 424(e) of the Code, of such
      entity.

    

    (t)                 
      "STOCK"
      means the common stock of the Company, as adjusted from time to time in
      accordance with Section 4.2.

    

    (u)                
      "SUBSCRIPTION
      AGREEMENT" means an agreement in such form as specified by the Company which
      is
      delivered in written form or by communicating with the

     

    
      
        
        

      

      
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    Company
      in such other manner as the Company may authorize, stating an Employee's
      election to participate in the Plan and authorizing payroll deductions under
      the
      Plan from the Employee's Compensation.

    

    (v)                
      "SUBSCRIPTION
      DATE" means the Offering Date of an Offering Period, or such earlier date as
      the
      Company shall establish.

    

    (w)               
      "SUBSIDIARY
      CORPORATION" means any present or future "subsidiary corporation" of the
      Company, as defined in Section 424(f) of the Code.

    

    (x)                 
      "SUCCESSOR"
      means a corporation into or with which the Company is merged or consolidated
      or
      which acquires all or substantially all of the assets of the Company and which
      is designated by the Board as a Successor for purpose of the Plan.

    

    2.2     CONSTRUCTION.
      Captions and titles contained herein are for convenience only and shall not
      affect the meaning or interpretation of any provision of the Plan. Except when
      otherwise indicated by the context, the singular shall include the plural and
      the plural shall include the singular. Use of the term "or" is not intended
      to
      be exclusive, unless the context clearly requires otherwise.

    

    3. 
ADMINISTRATION.

    

    3.1 
ADMINISTRATION
      BY THE BOARD. The Plan shall be administered by the Board and its designees.
      Subject to the provisions of the Plan, the Board shall determine all of the
      relevant terms and conditions of Purchase Rights; provided, however, that all
      Participants granted Purchase Rights pursuant to an Offering shall have the
      same
      rights and privileges within the meaning of Section 423(b)(5) of the Code in
      such Offering. All expenses incurred in connection with the administration
      of
      the Plan shall be paid by the Company. While the Company is a public reporting
      company, the Plan shall be administered by the Committee, which shall consist
      of
      not less than two directors. The members of the Committee shall be appointed
      by,
      and serve at the pleasure of, the Board. To the extent required for transactions
      under the Plan to qualify for exemptions available under Rule 16b-3 ("Rule
      16b-3") promulgated under the Securities Exchange Act of 1934 (the "1934 Act"),
      all actions relating to awards to persons subject to Section 16 of the 1934
      Act
      shall be taken by the Board unless each person who serves on the Committee
      is a
      "non-employee director" within the meaning of Rule 16b-3 or such actions are
      taken by a sub-committee of the Committee (or the Board) comprised solely of
      "non-employee directors". To the extent required for compensation realized
      from
      awards under the Plan to be deductible by the Company pursuant to section 162(m)
      of the Code, the members of the Committee shall be "outside directors" within
      the meaning of section 162(m).

    

    3.2 
AUTHORITY
      OF OFFICERS. Any officer of the Company shall have the authority to act on
      behalf of the Company with respect to any matter, right, obligation,
      determination or election that is the responsibility of or that is allocated
      to
      the Company herein, provided that the officer has actual authority with respect
      to such matter, right, obligation, determination or election. Any decision
      or
      determination of the Company made by an Officer having actual authority with
      respect thereto, shall be final, binding and conclusive on the 

     

    
      
        
        

      

      
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    Participating
      Company Group, any Participant, and all persons having an interest in the Plan,
      or any Option granted hereunder, unless such Officer's decision or determination
      is arbitrary or capricious, fraudulent, or made in bad faith.

    

    3.3 
POLICIES
      AND PROCEDURES ESTABLISHED BY THE COMPANY. The Company may, from time to time,
      consistent with the Plan and the requirements of Section 423 of the Code,
      establish, interpret change or terminate such rules, guidelines, policies,
      procedures, limitations, or adjustments as deemed advisable by the Company,
      in
      its discretion, for the proper administration of the Plan, including, without
      limitation, (a) a minimum payroll deduction amount required for participation
      in
      an Offering, (b) a limitation on the frequency or number of changes permitted
      in
      the rate of payroll deduction during an Offering, (c) an exchange ratio
      applicable to amounts withheld in a currency other than United States dollars,
      (d) a payroll deduction greater than or less than the amount designated by
      a
      Participant in order to adjust for the Company's delay or mistake in processing
      a Subscription Agreement or in otherwise effecting a Participant's election
      under the Plan or as advisable to comply with the requirements of Section 423
      of
      the Code, and (e) determination of the date and manner by which the Fair Market
      Value of a share of Stock is determined for purposes of administration of the
      Plan.

    

    The
      Board's determination of the construction and interpretation of any provision
      of
      the Plan, and any actions taken, and any decisions or determinations made
      pursuant to the terms of the Plan, shall be final, binding and conclusive on
      the
      Participating Company Group, any Participant, and any person having an interest
      in the Plan or any Option granted hereunder unless the Board's action, decision
      or determination is arbitrary or capricious, fraudulent, or made in bad
      faith.

    

    3.4 
INDEMNIFICATION.
      In addition to such other rights of indemnification as they may have as members
      of the Board or Officers or Employees of the Participating Company Group,
      members of the Board and any Officers or Employees of the Participating Company
      Group to whom authority to act for the Board or the Company is delegated shall
      be indemnified by the Company against all reasonable expenses, including
      attorneys' fees, actually and necessarily incurred in connection with the
      defense of any action, suit or proceeding, or in connection with any appeal
      therein, to which they or any of them may be a party by reason of any action
      taken or failure to act under or in connection with the Plan, or any right
      granted hereunder, and against all amounts paid by them in settlement thereof
      (provided such settlement is approved by independent legal counsel selected
      by
      the Company) or paid by them in satisfaction of a judgment in any such action,
      suit or proceeding, except in relation to matters as to which it shall be
      adjudged in such action, suit or proceeding that such person is liable for
      gross
      negligence, bad faith or intentional misconduct in duties; provided, however,
      that within sixty (60) days after the institution of such action, suit or
      proceeding, such person shall offer to the Company, in writing, the opportunity
      at its own expense to handle and defend the same and to retain complete control
      over the litigation and/or settlement of such suit, action or
      proceeding.

    

    4. 
SHARES
      SUBJECT TO PLAN.

    

    4.1 
MAXIMUM
      NUMBER OF SHARES ISSUABLE. Subject to adjustment as provided in Section 4.2,
      the
      maximum aggregate number of shares of Stock that may be issued 

     

    
      
        
        

      

      
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    under
      the
      Plan shall be Five Hundred Thousand (500,000), and shall consist of authorized
      but unissued or reacquired shares of Stock, or any combination thereof. If
      an
      outstanding Purchase Right for any reason expires or is terminated or canceled,
      the shares of Stock allocable to the unexercised portion of that Purchase Right
      shall again be available for issuance under the Plan.

    

    4.2 
ADJUSTMENTS
      FOR CHANGES IN CAPITAL STRUCTURE. In the event of any stock dividend, stock
      split, reverse stock split, recapitalization, combination, reclassification
      or
      similar change in the capital structure of the Company, or in the event of
      any
      merger (including a merger effected for the purpose of changing the Company's
      domicile), sale of assets or other reorganization in which the Company is a
      party, appropriate adjustments shall be made in the number and class of shares
      subject to the Plan, each Purchase Right, and in the Purchase Price. If a
      majority of the shares of the same class as the shares subject to outstanding
      Purchase Rights are exchanged for, converted into, or otherwise become (whether
      or not pursuant to an Ownership Change Event, as defined below) shares of
      another corporation (the "NEW SHARES"), the Board may unilaterally amend the
      outstanding Purchase Rights to provide that such Purchase Rights are exercisable
      for New Shares. In the event of any such amendment, the number of shares subject
      to, and the Purchase Price of, the outstanding Purchase Rights shall be adjusted
      in a fair and equitable manner, as determined by the Board, in its discretion.
      Notwithstanding the foregoing, any fractional share resulting from an adjustment
      pursuant to this Section 4.2 shall be rounded down to the nearest whole number,
      and in no event may the Purchase Price be decreased to an amount less than
      the
      par value, if any, of the stock subject to the Purchase Right.

    

    5. 
ELIGIBILITY.

    

    5.1 
EMPLOYEES
      ELIGIBLE TO PARTICIPATE. Each Employee of a Participating Company is eligible
      to
      participate in the Plan and shall be deemed an Eligible Employee, except any
      Employee who is either: (a) customarily employed by the Participating Company
      Group for twenty (20) hours or less per week (b) customarily employed by the
      Participating Company Group for not more than five (5) months in any calendar
      year or (c) has not completed thirty (30) days of service with a Participating
      Company, or such other service requirement, up to a maximum of 2 years, which
      the Board may require.

    

    5.2 
EXCLUSION
      OF CERTAIN STOCKHOLDERS. Notwithstanding any provision of the Plan to the
      contrary, no Employee shall be treated as an Eligible Employee and granted
      a
      Purchase Right under the Plan if, immediately after such grant, the Employee
      would own or hold options to purchase stock of the Company or of any Parent
      Corporation or Subsidiary Corporation possessing five percent (5%) or more
      of
      the total combined voting power or value of all classes of stock of such
      corporation, as determined in accordance with Section 423(b)(3) of the Code.
      For
      purposes of this Section 5.2, the attribution rules of Section 424(d) of the
      Code shall apply in determining the stock ownership of such
      Employee.

    

    5.3 
DETERMINATION
      BY COMPANY. The Company shall determine in good faith and in the exercise of
      its
      discretion whether an individual has become or has ceased to be an Employee
      or
      an Eligible Employee and the effective date of such individual's attainment
      or
      termination of such status, as the case may be. For purposes of an individual's
      eligibility to 

     

    
      
        
        

      

      
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    participate
      in or other rights, if any, under the Plan as of the time of the Company's
      determination, all such determinations by the Company shall be final, binding
      and conclusive, unless the Company's determination is arbitrary or capricious,
      fraudulent, or made in bad faith notwithstanding that the Company or any court
      of law or governmental agency subsequently makes a contrary
      determination.

    

    6.                
      OFFERINGS.

    

    The
      Plan
      shall be implemented by sequential Offerings of approximately three (3) months
      duration or such other duration as the Board shall determine (an "OFFERING
      PERIOD"). Offering Periods shall commence on or about February 1, May 1, August
      1 and November 1 of each year and end on or about the next April 30, July 31,
      October 31, and January 31, respectively, occurring thereafter. The initial
      Offering Period shall begin August 1, 2001. Notwithstanding the foregoing,
      the
      Board, in its sole and absolute discretion, may establish a different duration
      for one or more Offering Periods or different commencing or ending dates for
      such Offering Periods; provided, however, that no Offering Period may have
      a
      duration exceeding twenty-seven (27) months.

    

    7.                
      PARTICIPATION
      IN THE PLAN.

    

    7.1 
INITIAL
      PARTICIPATION. An Eligible Employee may become a Participant in an Offering
      Period by delivering a properly completed Subscription Agreement, in accordance
      with such rules and procedures as may be specified by the Company. An Eligible
      Employee who does not deliver a properly completed Subscription Agreement to
      the
      Company in the required time period shall not participate in the Plan for that
      Offering Period. Furthermore, the Eligible Employee may not participate in
      a
      subsequent Offering Period unless a properly completed Subscription Agreement
      is
      delivered to the Company on or before the Subscription Date for such subsequent
      Offering Period.

    

    7.2 
CONTINUED
      PARTICIPATION. A Participant shall automatically participate in the next
      Offering Period commencing immediately after the Purchase Date of each Offering
      Period in which the Participant participates provided that the Participant
      remains an Eligible Employee on the Offering Date of the new Offering Period
      and
      has not either (a) withdrawn from the Plan pursuant to Section 12.1 or (b)
      terminated employment as provided in Section 13. A Participant who may
      automatically participate in a subsequent Offering Period, as provided in this
      Section, is not required to deliver any additional Subscription Agreement for
      the subsequent Offering Period in order to continue participation in the Plan.
      However, a Participant may deliver a new Subscription Agreement for a subsequent
      Offering Period in accordance with the procedures set forth in Section 7.1
      if
      the Participant desires to change any of the elections contained in the
      Participant's then effective Subscription Agreement.

    

    8.                
      RIGHT
      TO
      PURCHASE SHARES.

    

    8.1 
GRANT
      OF
      PURCHASE RIGHT.

    

    
      
        
        

      

      
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    (i)                  Except
      as
      set forth below (or as otherwise specified by the Board prior to the Offering
      Date), on the Offering Date of each Offering Period, each Participant in that
      Offering Period shall be granted automatically a Purchase Right consisting
      of an
      option to purchase that number of whole shares of Stock determined by either
      dividing fifteen percent (15%) of such Participant's Compensation during the
      Offering Period by the Purchase Price of a share of Stock for such Offering
      Period or by dividing Twelve Thousand Five Hundred Dollars ($12,500) by the
      Fair
      Market Value of a share of Stock on such Offering Date, whichever is less.
      In
      connection with any Offering made under this Plan, the Board or the Committee
      may specify a maximum number of shares of Common Stock which may be purchased
      by
      any employee as well as a maximum aggregate number of shares of Common Stock
      which may be purchased by all eligible employees pursuant to such Offering.
      In
      addition, in connection with any Offering which contains more than one Purchase
      Date, the Board or the Committee may specify a maximum aggregate number of
      shares which may be purchased by all eligible employees on any given Purchase
      Date under the Offering.

    

    (ii)                
      Notwithstanding
      the foregoing, the aggregate number of shares for which Purchase Rights may
      be
      granted in any Offering Period may not exceed the maximum number of shares
      which
      have been, prior to the Offering Date for such Offering Period, reserved for
      the
      Plan and approved by the stockholders of the Company and not previously been
      purchased upon the exercise of Purchase Rights in any prior Offering
      Period.

    

    (iii)               
      If
      the
      aggregate purchase of shares of Common Stock upon exercise of rights granted
      under the Offering would exceed any such maximum aggregate number, the Board
      or
      the Committee shall make a pro rata allocation of the shares of Common Stock
      available in as nearly a uniform manner as shall be practicable and as it shall
      deem to be equitable. No Purchase Right shall be granted on an Offering Date
      to
      any person who is not, on such Offering Date, an Eligible Employee.

    

    8.2 
SUBSTITUTION
      OF RIGHTS. The grant of rights under an Offering may be done to carry out the
      substitution of rights under the Plan for pre-existing rights granted under
      another employee
      stock purchase
      plan, if
      such substitution is pursuant to a transaction described in Section 424(a)
      of
      the Code (or any successor provision thereto) and the characteristics of such
      substitute rights conform to the requirements of Section 424(a) of the Code
      (or
      any successor provision thereto) and will not cause the disqualification of
      this
      Plan under Section 423 of the Code. Notwithstanding the other terms of the
      Plan,
      such substitute rights shall have the same characteristics as the
      characteristics associated with such pre-existing rights, including, but not
      limited to, the following:

    

    (i) the
      date
      on which such pre-existing right was granted shall be the "Offering Date" of
      such substitute right for purposes of determining the date of grant of the
      substitute right;

    

    (ii) the
      Offering (as defined below) for such substitute right shall begin on its
      Offering Date and end coincident on the applicable Purchase Date, but no later
      than the end of the offering (as determined under the terms of such offering)
      under which the pre-existing right was granted.

    

    
      
        
        

      

      
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    8.3
       
      PRO
      RATA
      ADJUSTMENT OF PURCHASE RIGHT. If the Board establishes an Offering Period of
      any
      duration other than three months, then any limitation on the number of shares
      of
      Stock subject to each Purchase Right granted on the Offering Date of such
      Offering Period set forth in Section 8.1(i) shall be prorated based upon the
      ratio which the number of months in such Offering Period bears to three
      (3).

    

    8.4 
CALENDAR
      YEAR PURCHASE LIMITATION. Notwithstanding any provision of the Plan to the
      contrary, no Participant shall be granted a Purchase Right which permits his
      or
      her right to purchase shares of Stock under the Plan to accrue at a rate which,
      when aggregated with such Participant's rights to purchase shares under all
      other employee
      stock purchase
      plans of
      a Participating Company intended to meet the requirements of Section 423 of
      the
      Code, exceeds Twenty-Five Thousand Dollars ($25,000) in Fair Market Value (or
      such other limit, if any, as may be imposed by the Code) for each calendar
      year
      in which such Purchase Right is outstanding at any time. For purposes of the
      preceding sentence, the Fair Market Value of shares purchased during a given
      Offering Period shall be determined as of the Offering Date for such Offering
      Period. The limitation described in this Section shall be applied in conformance
      with applicable regulations under Section 423(b)(8) of the Code.

    

    9.                
      PURCHASE
      PRICE.

    

    The
      Purchase Price for an Offering Period shall be ninety-five percent (95%) of
      the
      Fair Market Value of a share of Stock on the Purchase Date. 

    

    10. 
ACCUMULATION
      OF PURCHASE PRICE THROUGH PAYROLL DEDUCTION.

    

    Shares
      of
      Stock acquired pursuant to the exercise of all or any portion of a Purchase
      Right may be paid for only by means of payroll deductions from the Participant's
      Compensation accumulated during the Offering Period for which such Purchase
      Right was granted, and, if a payroll deduction is not permitted under a statute,
      regulation, rule of a jurisdiction, or is not administratively feasible, such
      other payments as may be approved by the Company, subject to the
      following:

    

    10.1 
AMOUNT
      OF
      PAYROLL DEDUCTIONS. Except as otherwise provided herein, the amount to be
      deducted under the Plan from a Participant's Compensation on each payday during
      an Offering Period shall be determined by the Participant's Subscription
      Agreement. The Subscription Agreement shall set forth the percentage of the
      Participant's Compensation to be deducted on each payday during an Offering
      Period in whole percentages, up to fifteen percent (15%). The Board may change
      the foregoing limits on payroll deductions effective as of any Offering
      Date.

    

    10.2 
COMMENCEMENT
      OF PAYROLL DEDUCTIONS. Payroll deductions shall commence on the first payday
      following the Offering Date and shall continue through the last payday prior
      to
      the end of the Offering Period unless sooner altered or terminated as provided
      herein.

    

    
      
        
        

      

      
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    10.3 
ELECTION
      TO CHANGE OR STOP PAYROLL DEDUCTIONS. During an Offering Period, to the extent
      provided for in the Offering, a Participant may elect to decrease the rate
      of or
      to stop deductions from his or her Compensation by delivering to the Company
      an
      amended Subscription Agreement, in such form and manner as specified by the
      Company, authorizing such change on or before the Change Notice Date, as defined
      below. A Participant who elects, effective following the first payday of an
      Offering Period, to decrease the rate of his or her payroll deductions to zero
      percent (0%) shall nevertheless remain a Participant in the current Offering
      Period unless such Participant withdraws from the Plan as provided in Section
      12.1. The "CHANGE NOTICE DATE" shall be the day established in accordance with
      procedures established by the Company.

    

    10.4 
COMPANY'S
      HOLDING OF DEDUCTION. All payroll deductions from a Participant's Compensation
      shall be deposited with the general funds of the Company. All payroll deductions
      received or held by the Company may be used by the Company for any corporate
      purpose. Interest shall not be paid on sums deducted from a Participant's
      Compensation pursuant to the Plan.

    

    10.5 
VOLUNTARY
      WITHDRAWAL OF DEDUCTIONS. A Participant may withdraw payroll deductions credited
      to the Plan and not previously applied toward the purchase of Stock only as
      provided in Section 12.1.

    

    11. 
PURCHASE
      OF SHARES.

    

    11.1 
EXERCISE
      OF PURCHASE RIGHT. On each Purchase Date, each Participant's accumulated payroll
      deductions and other additional payments specifically permitted by the Plan
      (without any increase for interest), will be applied to the purchase of whole
      shares of Stock, up to the maximum number of shares permitted pursuant to the
      terms of the Plan and the applicable Offering, at the Purchase Price for such
      Offering. No fractional shares shall be issued upon the exercise of Purchase
      Rights granted under the Plan. The amount, if any, of each Participant's
      accumulated payroll deductions remaining after the purchase of shares which
      is
      less than the amount required to purchase one share of Stock on the final
      Purchase Date of an Offering shall be retained in each such Participant's
      account for the purchase of shares under the next Offering under the Plan,
      unless such Participant withdraws from such next Offering, as provided in
      Section 12.1, or is no longer eligible to be granted rights under the Plan,
      as
      provided in Section 5, in which case such amount shall be distributed to the
      Participant after said final Purchase Date, without interest. The amount, if
      any, of each Participant's accumulated payroll deductions remaining after the
      purchase of shares which is equal to the amount required to purchase whole
      shares of Stock on the final Purchase Date of an Offering shall be refunded
      in
      full to the Participant after such Purchase Date, without interest.

    

    11.2 
PRO
      RATA
      ALLOCATION OF SHARES. If the number of shares of Stock which might be purchased
      by all Participants in the Plan on a Purchase Date exceeds the number of shares
      of Stock available in the Plan as provided in Section 4.1, the Company shall
      make a pro rata allocation of the remaining shares in as uniform a manner as
      practicable and as the Company determines to be equitable. Any fractional share
      resulting from such pro rata allocation to any Participant shall be
      disregarded.

    

    
      
        
        

      

      
        –10–

        
          

        

      

      
        
        

      

    

    11.3 
DELIVERY
      OF SHARES. As soon as practicable after each Purchase Date, the Company shall
      arrange the delivery to each Participant of the shares acquired by the
      Participant on such Purchase Date; provided that the Company may deliver such
      shares to a broker designated by the Company that will hold such shares for
      the
      benefit of the Participant. Shares to be delivered to a Participant under the
      Plan shall be registered, or held in an account, in the name of the Participant,
      or, if requested by the Participant, such other name or names as the Company
      may
      permit under rules established for the operation and administration of the
      Plan.

    

    11.4
       
      TAX
      WITHHOLDING. At the time a Participant's Purchase Right is exercised, in whole
      or in part, or at the time a Participant disposes of some or all of the shares
      of Stock he or she acquires under the Plan, the Participant shall make adequate
      provision for the federal, state, local and foreign tax withholding obligations,
      if any, of the Participating Company Group which arise upon exercise of the
      Purchase Right or upon such disposition of shares, respectively. The
      Participating Company Group may, but shall not be obligated to, withhold from
      the Participant's compensation the amount necessary to meet such withholding
      obligations.

    

    11.5
       
      EXPIRATION
      OF PURCHASE RIGHT. A Purchase Right shall expire immediately upon the end of
      the
      Offering Period to the extent it exceeds the number of shares of Stock which
      are
      purchased with a Participant's accumulated payroll deductions or other permitted
      contribution during any Offering Period.

    

    11.6 
PROVISION
      OF REPORTS AND STOCKHOLDER INFORMATION TO PARTICIPANTS. Each Participant who
      has
      exercised all or part of his or her Purchase Right shall receive, as soon as
      practicable after the Purchase Date, a report of such Participant's account
      setting forth the total payroll deductions accumulated prior to such exercise,
      the number of shares of Stock purchased, the Purchase Price for such shares,
      the
      date of purchase and the cash balance, if any, remaining immediately after
      such
      purchase that is to be refunded or retained on behalf of the Participant
      pursuant to Section 11.1. The report required by this Section may be delivered
      in such form and by such means, including by electronic transmission, as the
      Company may determine. In addition, each Participant shall be given access
      to
      information concerning the Company equivalent to that information provided
      generally to the Company's common stockholders.

    

    12. 
WITHDRAWAL
      FROM PLAN.

    

    12.1 
VOLUNTARY
      WITHDRAWAL FROM THE PLAN. A Participant may withdraw from the Plan by signing
      and delivering to the Company's designated office a written notice of withdrawal
      on a form provided by the Company for this purpose or by communicating with
      the
      Company in such other manner as the Company may authorize. A Participant who
      voluntarily withdraws from the Plan is prohibited from resuming participation
      in
      the Plan in the same Offering from which he or she withdrew, but may participate
      in any subsequent Offering by again satisfying the requirements of Sections
      5
      and 7.1. The Company may impose, from time to time, a requirement that the
      notice of withdrawal from the Plan be on file with the Company's designated
      office for a reasonable period prior to the effectiveness of the Participant's
      withdrawal.

    

    
      
        
        

      

      
        –11–

        
          

        

      

      
        
        

      

    

    12.2 
RETURN
      OF
      PAYROLL DEDUCTIONS. Upon a Participant's voluntary withdrawal from the Plan
      pursuant to Section 12.1, the Participant's accumulated payroll deductions
      which
      have not been applied toward the purchase of shares shall be refunded to the
      Participant as soon as practicable after the withdrawal, without the payment
      of
      any interest, and the Participant's participation in the Plan shall terminate.
      Such accumulated payroll deductions to be refunded in accordance with this
      Section may not be applied to any other Offering under the Plan.

    

    13. 
TERMINATION
      OF EMPLOYMENT OR ELIGIBILITY.

    

    13.1 
Upon
      a
      Participant's ceasing, prior to a Purchase Date, to be an Employee of the
      Participating Company Group for any reason, or upon the failure of a Participant
      to remain an Eligible Employee, the Participant's participation in the Plan
      shall terminate immediately, except as otherwise provided in Section 2.1(g)
      and
      Section 13.3.

    

    13.2 
Upon
      termination of participation, the terminated Participant's accumulated payroll
      deductions which have not been applied toward the purchase of shares shall,
      as
      soon as practicable, be returned to the Participant or, in the case of the
      Participant's death, to the Participant's legal representative, and all of
      the
      Participant's rights under the Plan shall terminate. Interest shall not be
      paid
      on sums returned pursuant to this Section 13. A Participant whose participation
      has been so terminated may again become eligible to participate in future
      Offerings under the Plan by satisfying the requirements of Sections 5 and
      7.1.

    

    13.3 
Upon
      a
      Participant's ceasing, prior to a Purchase Date, to be an Employee of the
      Participating Company Group for any reason, or upon the failure of a Participant
      to remain an Eligible Employee, the Participant's participation in the Plan
      shall continue, subject to the Participant's execution of a general release
      of
      claims satisfactory to the Company, for an additional ninety (90) days;
      provided, however, this Section shall not apply in the event of the
      Participant's death, a Spinoff Transaction, or to any Participant on a leave
      of
      absence governed by Section 2.1(g).

    

    14. 
CHANGE
      IN
      CONTROL.

    

    14.1 
DEFINITIONS.

    

     
      (a) 
      An
      "OWNERSHIP CHANGE EVENT" shall be deemed to have occurred if any of the
      following occurs with respect to the Company: (i) the direct or indirect sale
      or
      exchange in a single or series of related transactions by the stockholders
      of
      the Company of more than fifty percent (50%) of the voting stock of the Company;
      (ii) a merger or consolidation in which the Company is a party; (iii) the sale,
      exchange, or transfer of all or substantially all, as determined by the Board
      in
      its sole discretion, of the assets of the Company; or (iv) a liquidation or
      dissolution of the Company.

    

     
      (b) 
      A
      "CHANGE
      IN CONTROL" shall mean an Ownership Change Event or a series of related
      Ownership Change Events (collectively, a "TRANSACTION") wherein the

     

    
      
        
        

      

      
        –12–

        
          

        

      

      
        
        

      

    

    stockholders
      of the Company immediately before the Transaction do not retain immediately
      after the Transaction, in substantially the same proportions as their ownership
      of shares of the Company's voting stock immediately before the Transaction,
      direct or indirect beneficial ownership of more than fifty percent (50%) of
      the
      total combined voting power of the outstanding voting securities of the Company
      or, in the case of a Transaction described in Section 14.1(a)(ii) or (iii),
      the
      corporation or other business entity surviving the merger or consolidation
      or to
      which the assets of the Company were transferred (the "TRANSFEREE"), as the
      case
      may be. The Board shall determine in its sole discretion whether multiple sales
      or exchanges of the voting securities of the Company or multiple Ownership
      Change Events are related. Notwithstanding the preceding sentence, a Change
      in
      Control shall not include any Transaction in which the voting stock of an entity
      in the Participating Company Group is distributed to the shareholders of a
      parent corporation, as defined in Section 424(e) of the Code, of such entity.
      Any Ownership Change resulting from an underwritten public offering of the
      Company's Stock or the stock of any Participating Company shall not be deemed
      a
      Change in Control for any purpose hereunder.

    

    14.2 
EFFECT
      OF
      CHANGE IN CONTROL ON PURCHASE RIGHTS. In the event of a Change in Control,
      the
      surviving, continuing, successor, or purchasing corporation or parent
      corporation thereof, as the case may be (the "ACQUIRING CORPORATION"), may
      assume the Company's rights and obligations under the Plan. If the Acquiring
      Corporation elects not to assume the Company's rights and obligations under
      outstanding Purchase Rights, the Purchase Date of the then current Offering
      Period shall be accelerated to a date before the date of the Change in Control
      specified by the Board, but the number of shares of Stock subject to outstanding
      Purchase Rights shall not be adjusted. All Purchase Rights which are neither
      assumed by the Acquiring Corporation in connection with the Change in Control
      nor exercised as of the date of the Change in Control shall terminate and cease
      to be outstanding effective as of the date of the Change in
      Control.

    

    15. 
NONTRANSFERABILITY
      OF PURCHASE RIGHTS.

    

     Neither
      payroll deductions nor a Participant's Purchase Right may be assigned,
      transferred, pledged or otherwise disposed of in any manner other than as
      provided by the Plan or by will or the laws of descent and distribution. Any
      such attempted assignment, transfer, pledge or other disposition shall be
      without effect, except that the Company may treat such act as an election to
      withdraw from the Plan as provided in Section 12.1. A Purchase Right shall
      be
      exercisable during the lifetime of the Participant only by the
      Participant.

    

    16.
       
      COMPLIANCE
      WITH SECURITIES LAW.

    

     The
      issuance of shares under the Plan shall be subject to compliance with all
      applicable requirements of federal, state and foreign law with respect to such
      securities. A Purchase Right may not be exercised if the issuance of shares
      upon
      such exercise would constitute a violation of any applicable federal, state
      or
      foreign securities laws or other law or regulations or the requirements of
      any
      securities exchange or market system upon which the Stock may then be listed.
      In
      addition, no Purchase Right may be exercised unless (a) a registration statement
      under the Securities Act of 1933, as amended, shall at the time of exercise
      of
      the Purchase Right be in 

     

    
      
        
        

      

      
        –13–

        
          

        

      

      
        
        

      

    

    effect
      with respect to the shares issuable upon exercise of the Purchase Right, or
      (b)
      in the opinion of legal counsel to the Company, the shares issuable upon
      exercise of the Purchase Right may be issued in accordance with the terms of
      an
      applicable exemption from the registration requirements of said Act. The
      inability of the Company to obtain from any regulatory body having jurisdiction
      the authority, if any, deemed by the Company's legal counsel to be necessary
      to
      the lawful issuance and sale of any shares under the Plan shall relieve the
      Company of any liability in respect of the failure to issue or sell such shares
      as to which such requisite authority shall not have been obtained. As a
      condition to the exercise of a Purchase Right, the Company may require the
      Participant to satisfy any qualifications that may be necessary or appropriate,
      to evidence compliance with any applicable law or regulation, and to make any
      representation or warranty with respect thereto as may be requested by the
      Company.

    

    17. 
RIGHTS
      AS
      A STOCKHOLDER AND EMPLOYEE.

    

    A
      Participant shall have no rights as a stockholder by virtue of the Participant's
      participation in the Plan until the date of the issuance of shares purchased
      pursuant to the exercise of the Participant's Purchase Right (as evidenced
      by
      the appropriate entry on the books of the Company or of a duly authorized
      transfer agent of the Company). No adjustment shall be made for dividends,
      distributions or other rights for which the record date is prior to the date
      such share is issued, except as provided in Section 4.2. Nothing herein shall
      confer upon a Participant any right to continue in the employ of the
      Participating Company Group or interfere in any way with any right of the
      Participating Company Group to terminate the Participant's employment at any
      time.

    

    18.              
      DISTRIBUTION
      ON DEATH.

    

    If
      a
      Participant dies, the Company shall deliver any shares or cash credited to
      the
      Participant to the Participant's legal representative.

    

    19.              
      NOTICES.

    

    All
      notices or other communications by a Participant to the Company under or in
      connection with the Plan shall be deemed to have been duly given when received
      in the form specified by the Company at the location, or by the person,
      designated by the Company for the receipt thereof.

    

    20.             
       AMENDMENT
      OR TERMINATION OF THE PLAN.

    

    The
      Board
      may at any time amend or terminate the Plan, except that (a) such termination
      shall not affect Purchase Rights previously granted under the Plan, except
      as
      permitted under the Plan, and (b) no amendment may adversely affect a Purchase
      Right previously granted under the Plan (except to the extent permitted by
      the
      Plan or as may be necessary to qualify the Plan as an employee
      stock purchase
      plan
      pursuant to Section 423 of the Code or to obtain qualification or registration
      of the shares of Stock under applicable federal, state or foreign securities
      laws). In addition, an amendment to the Plan must be approved by the
      stockholders of the Company within twelve (12) months of the adoption of such
      amendment if such amendment would 

     

    
      
        
        

      

      
        –14–

        
          

        

      

      
        
        

      

    

    increase
      the maximum aggregate number of shares of Stock that may be issued under the
      Plan (except by operation of the provisions of Section 4.1 or Section 4.2)
      or
      would change the definition of the corporations that may be designated by the
      Board as Participating Companies. 

    

     

     

    
      	 	PLAN HISTORY	 
	 	 	 
	 	 	 
	
              May
                7, 2001

            	Board adopts Plan.	 
	 	 	 
	June 26, 2001	Stockholders approve Plan.	 
	 	 	 
	May 1, 2006	Board
              amends and restates the Plan.	 

    

     

    
 

     

    

    

      

    
 

     

     

     

     

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        –15–Exhibit 10.21

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made
effective as of May 1, 2006 (“Effective Date”), by and between IT&E
International Group, Inc. (“Company”) and Alastair McEwan (“Executive”).

 

RECITALS

 

A.            Company
has previously engaged Executive as a consultant to the Company.

 

B.            Company
now desires to engage Executive as an employee of the Company in the capacity
of interim Chief Executive Officer, and Executive is wiling to provide such
services to the Company.

 

C.            Company
and Executive desire to enter into this Agreement to provide for Executive’s
employment by the Company, upon the terms and conditions set forth herein.

 

The parties hereby agree as follows:

 

1.             Duties.

 

1.1.          Position.
Executive shall serve as interim Chief Executive Officer of the Company and
shall have the duties and responsibilities incident to such position and such
other duties as may be determined in consultation with the Company’s Board of
Directors (“Board of Directors”). Executive shall perform faithfully,
cooperatively and diligently all of his job duties and responsibilities.

 

2.             At
Will Employment. Executive’s employment under this Agreement will be “at-will,”
meaning that either Executive or the Company may terminate this Agreement and
Executives employment hereunder at any time.

 

3.             Compensation.

 

3.1.          Base
Salary. As compensation for Executive’s performance of his duties
hereunder, Company shall pay to Executive an initial base salary of Twenty
Thousand Dollars ($20,000) per month (“Base Salary”), which if annualized,
would represent Two Hundred Forty Thousand Dollars ($240,000) per year, payable
in accordance with the normal payroll practices of Company, less required
deductions for state and federal withholding tax, social security and all other
employment taxes and payroll deductions. Such Base Salary may be increased at
any time or from time to time at the discretion of the Board of Directors.

 

3.2.          Bonus.
In addition to the Base Salary, Executive shall be eligible to receive a cash
bonus, in accordance with, and based upon the satisfaction of the criteria and
performance standards to be established by the Board and in the sole discretion
of the Board.

 

 

3.3.          Stock
Options. Executive shall also be eligible to receive stock options, restricted
stock or other equity incentive grants pursuant to one or more equity incentive
plans offered by the Company from time to time, subject to the approval of the
Board of Directors.

 

4.             No
Health or Welfare Benefit Plans. Although the Executive and the Executive’s
family, as the case may be, shall be eligible for participation in all benefits
under health and welfare benefit plans, practices, policies and programs
provided by the Company to similarly situated employees of the Company at
Executive’s level, Executive hereby waives such rights as to participation in
such plans, practices, policies and programs and the Company shall not be
required to provide or pay for any such benefits on Executive’s or Executive’s
family’s behalf until such time as the parties mutually agree in writing
otherwise.

 

5.             Business
Expenses. Executive shall be entitled to receive prompt reimbursement for
all reasonable, out-of-pocket business expenses incurred in the performance of
his duties on behalf of Company. To obtain reimbursement, expenses must be
submitted promptly with appropriate supporting documentation in accordance with
Company’s policies.

 

6.             Vacation.
Executive shall be entitled to at least five (5) weeks paid vacation each
calendar year in accordance with the Company’s plans, policies and programs
then in effect.

 

7.             General
Provisions.

 

7.1.          Successors
and Assigns. The rights and obligations of Company under this Agreement
shall inure to the benefit of and shall be binding upon the successors and
assigns of Company. Executive shall not be entitled to assign any of Executive’s
rights or obligations under this Agreement.

 

7.2.          Waiver.
The rights and remedies of the parties to this Agreement are cumulative and not
alternative. Neither the failure nor any delay by any party in exercising any
right, power or privilege under this Agreement or the documents referred to in
this Agreement will operate as a waiver of such right, power or privilege; and
no single or partial exercise of any such right, power or privilege will preclude
any other or further exercise of such right, power or privilege or the exercise
of any other right, power or privilege. To the maximum extent permitted by
applicable law, (i) no claim or right arising out of this Agreement or the
documents referred to in this Agreement can be discharged by one party, in
whole or in part, by a waiver or renunciation of the claim or right unless in
writing signed by the other party; (ii) no waiver that may be given by a
party will be applicable except in the specific instance for which it is given;
and (iii) no notice to or demand on one party will be deemed to be a
waiver of any obligation of such party or of the right of the party giving such
notice or demand to take further action without notice or demand as provided in
this Agreement or the documents referred to in this Agreement.

 

7.3.          Severability.
In the event any provision of this Agreement is found to be unenforceable, invalid
or illegal by an arbitrator or court of competent jurisdiction, such provision
shall be deemed modified to the extent necessary to allow enforceability of the
provision as so limited, it being intended that the parties shall receive the
benefit contemplated herein to the fullest extent permitted by law. If a deemed
modification is not satisfactory in the judgment of such arbitrator or court,
the unenforceable, invalid or illegal provision shall be

 

2

 

deemed
deleted, and the legality, validity and enforceability of the remaining
provisions shall not be affected thereby.

 

7.4.          Interpretation;
Construction. The headings set forth in this Agreement are for convenience
only and shall not be used in interpreting this Agreement. This Agreement has
been drafted by legal counsel representing the Company, but Executive has
participated in the negotiation of its terms. Furthermore, Executive
acknowledges that Executive has had an opportunity to review the Agreement and
has had it reviewed and negotiated by legal counsel acting on his behalf, and,
therefore, the normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party shall not be employed in the
interpretation of this Agreement.

 

7.5.          Governing
Law. This Agreement will be governed by and construed in accordance with
the laws of the United States and the State of California, without reference to
its conflicts of laws principles. Each party consents to the jurisdiction and
venue of the state or federal courts in San Diego, California, if applicable,
in any action, suit, or proceeding arising out of or relating to this
Agreement.

 

The
Executive hereby agrees to submit to binding arbitration before the American
Arbitration Association (which means A WAIVER OF THE EXECUTIVE’S RIGHT TO SUE
IN COURT AND PROCEED BY A JUDGE OR JURY TRIAL) of all disputes and claims arising
out of this Agreement. This Agreement will be the exclusive method to resolve
all disputes or controversies that the Executive or the Company may have,
whether or not arising out of the Executive’s employment or termination of that
employment with the Company. THE AGREEMENT TO ARBITRATE CONSTITUTES A WAIVER OF
ANY RIGHT THAT THE EXECUTIVE OR THE COMPANY MAY HAVE TO LITIGATE ANY CLAIM IN
COURT IN A JUDGE OR JURY TRIAL.

 

7.6.          Notices.
All notices, consents, waivers and other communications under this Agreement
must be in writing and will be deemed to have been duly given when (i)
delivered by hand (with written confirmation of receipt); (ii) sent by
facsimile (with written confirmation of receipt); or (iii) when received by the
addressee, if sent by a nationally recognized overnight delivery service,
return receipt requested, in each case to the appropriate addresses and
facsimile numbers set forth below or on the signature pages hereto (or to such other
address as a party may designate by notice to the other parties):

 

If to IT&E:                                                                                                                                                            IT&E
International Group, Inc.

Attention: Chief Financial Officer

505 Lomas Santa Fe Drive, Suite 200

Solana Beach, California 92075

Telephone: (858) 777-1644

Facsimile: (858) 366-0961

 

with a required copy to:                                                                                       Foley
& Lardner LLP

Attention: Adam C. Lenain, Esq.

402 West Broadway, Suite 2300

San Diego, California 92101

 

3

 

Telephone: (619) 234-6655

Facsimile: (619) 234-3510

 

If to Executive:                                             Alastair
McEwan

500 Hogan’s Valley Way

Cary, NC 27513

Telephone: 919-678-6527

or to such other address as either party shall have
furnished to the other in writing in accordance herewith.

 

7.7.          Counterparts;
Facsimile. This Agreement may be executed in one or more counterparts, all
of which when fully executed and delivered by all parties hereto and taken
together shall constitute a single agreement, binding against each of the
parties. To the maximum extent permitted by law or by any applicable
governmental authority, any document may be signed and transmitted by facsimile
with the same validity as if it were an ink-signed document. Each signatory
below represents and warrants by his or her signature that he or she is duly
authorized (on behalf of the respective entity for which such signatory has
acted) to execute and deliver this instrument and any other document related to
this transaction, thereby fully binding each such respective entity.

 

8.             Entire
Agreement. This Agreement constitutes the entire agreement between the
parties relating to this subject matter and supersedes all prior or
simultaneous representations, discussions, negotiations, and agreements,
whether written or oral, including, without limitation, that certain Consulting
Agreement dated March 1, 2006 by and between the Company and Executive. This
Agreement may be amended or modified only with the written consent of Executive
and the Company. No oral waiver, amendment or modification will be effective
under any circumstances whatsoever.

 

[Remainder
of Page Intentionally Left Blank]

 

4

 

THE PARTIES TO THIS EMPLOYMENT AGREEMENT HAVE READ THE
FOREGOING EMPLOYMENT AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION
CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS EMPLOYMENT AGREEMENT
ON THE DATES SHOWN BELOW.

 

	
  Dated:

  	
  May 2, 2006

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Alastair McEwan

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
  May 1, 2006

  	
   

  	
  IT&E
  International Group, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kelly Alberts

  	
   

  
	
   

  	
   

  	
  Kelly
  Alberts, President

  
							

 

 

[Signature
Page to Employment Agreement]

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