Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Agreement”), dated as of
September 1, 2006, between OmniComm Systems, Inc., a Delaware corporation, (the “Company”), and Stephen Johnson (the “Executive”). 
 WITNESSETH: 
 WHEREAS, the Executive has experience in managing at a senior level the business
development activities of a firm engaged in marketing EDC products and services (or a division of such a company) to clinical trial sponsors; 
 WHEREAS, the parties acknowledge that the Executive’s abilities and services are unique and essential to the prospects of the Company; and, 
 WHEREAS, in light of the foregoing, the Company desires to employ the Executive as its Senior Vice President for Business Development and the Executive desires to accept such employment. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 1. Employment. The Company hereby employs the Executive and the Executive hereby accepts employment upon the terms and conditions hereinafter set forth. 
 2. Term and Termination. This Agreement shall commence on September 1, 2006 and shall terminate as of the earlier of: 
 (a) 3 years from the date hereof; 
 (b) the
death or disability of the Executive. Disability shall mean the Executive’s inability, due to sickness or injury, to perform effectively his duties hereunder for a period of at least 90 consecutive days; 
 (c) thirty (30) days after notice is given by the Company to the Executive after a material breach hereof by the Executive; or, 
 (d) thirty (30) days after notice is given by the Executive to the Company after a material breach hereof by the Company. 
 The exercise of the Company’s or the Executive’s right to terminate this Agreement pursuant to clause (c) or (d) hereof, as the case may be, shall
not abrogate the rights and remedies of the terminating party in respect of the breach giving rise to such termination. 
 3.
Salary. For all services rendered under this Agreement: 
 (a) During the term of his employment, the Company shall pay the Executive an
annual salary of $175,000. The Executive’s salary may be paid in the form of cash and/or stock, as agreed upon by the parties. This amount may be increased at the discretion of the Board of Directors and shall be adjusted to compensate for
annual cost of living increases. 
 (b) During the term of his employment, the Executive shall be entitled to participate in employee benefit
plans or programs of the Company, if any, to the extent the Executive is eligible to participate thereunder. Such plans and programs shall include, but not be limited to, the following: 
  

	 	(i)	major medical health insurance for the Executive, his spouse and children; 

  

	 	(ii)	dental insurance; 

  

	 	(iii)	long-term disability insurance; 

  

	 	(iv)	the Company sponsored 401(k) plan; and 

  

	 	(v)	three weeks paid vacation. 

 (c) The Executive shall be permitted to participate in the Company’s stock option plan. The number
of shares subject to options, type of options, and vesting of the options are set forth on Exhibit “A,” attached hereto as if fully set forth herein. 
 (d) The Company will pay a 1% sales commission on any sales achieved by you or one of the members of your team. Commissions will become due upon receipt of funds from the client and will be paid monthly as part of the
last payroll of each month. 
 (e) The Executive shall also be entitled to severance pay equal to three months (3) months salary and
benefits for each year of service in the event of termination by the Company for any reason other than commission of a felony or a crime involving moral turpitude relating to services provided to the Company, or termination by the Company pursuant
to Paragraph 2(c). Total severance pay will not exceed twelve (12) months salary and benefits. Options which have vested prior to the date of termination shall remain exercisable during the severance period. Unvested options shall terminate in
accordance with the terms of the respective Stock Option Agreements. 
 4. Duties. The Executive shall be employed as Senior Vice
President for Business Development for the Company and, subject to the direction of the Board of Directors and the Company’s officers designated by the Board of Directors, shall perform and discharge well and faithfully the duties which may be
assigned to him from time to time by the Company in connection with the conduct of its business. If the Executive is elected or appointed a director of the Company or any subsidiary thereof during the term of this Agreement, the Executive will serve
in such capacity without further compensation. 
 5. Extent of Services. Except as set forth below, the Executive shall devote his
entire time, attention and energies to the business of the Company and shall not during the term of this Agreement be engaged, whether or not during normal business hours, in any other business or professional activity, whether or not such activity
is pursued for gain, profit, or other pecuniary advantage. Notwithstanding the foregoing, the Executive shall be allowed to serve on the Board of Directors of other companies so long as such Board participation does not interfere with the Executive
fulfilling his duties to the Company and the Executive obtains the prior written approval of the Company’s Board of Directors. In addition, the Executive shall be allowed to provide consulting services to other companies so long as he obtains
the prior written approval of the Company’s Board of Directors, turns over to the Company the entire amount of the compensation he receives as a result of providing such services, and provides such services no more than three (3) days per
month. 
 6. Disclosure of Information. The Executive recognizes and acknowledges that the Company’s trade secrets and
proprietary information and processes, as they may exist from time to time, are valuable, special and unique assets of the Company’s business, access to and knowledge of which are essential to the performance of the Executive’s duties
hereunder. The Executive will not, during or after the term of his employment by the Company, in whole or in part, disclose such secrets, information or processes to any person, firm, corporation, association or other entity for any reason or
purpose whatsoever, nor shall the Executive make use of any such property for his own purposes or for the benefit of any person, firm, corporation or other entity except the Company under any circumstances during or after the term of his employment,
provided that after the term of his employment these restrictions shall not apply to such secrets, information and processes which are then in the public domain provided that the Executive was not responsible, directly or indirectly, for such
secrets, information or processes entering the public domain without the Company’s consent. The Executive agrees to hold as the Company’s property, all memoranda, books, papers, letters, formulas and other data, and all copies thereof and
therefrom, in any way relating to the Company’s business and affairs, whether made by him or otherwise coming into his possession, and on termination of his employment, or on demand of the Company, at any time, to deliver the same to the
Company. In the event an action is instituted and prior knowledge is an issue, it shall be the obligation of the Executive to prove by clear and convincing evidence that the confidential information disclosed was in the public domain, was already
known by the Executive prior to his employment with the Company, or was developed independently by the Executive. 
  

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 7. Inventions. The Executive hereby sells, transfers and assigns to the Company or to any person,
or entity designated by the Company, all of the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable material, made or conceived by the
Executive, solely or jointly, or in whole or in part, during the term hereof which (i) relate to methods, apparatus, designs, products, processes or devices sold, leased, used or under construction or development by the Company or any
subsidiary, or (ii) otherwise relate to or pertain to the business, functions or operations of the Company or any subsidiary, or (iii) arise wholly or partly from the efforts of the Executive during the term hereof. The Executive shall
communicate promptly and disclose to the Company, in such form as the Company requests, all information, details and data pertaining to the aforementioned inventions, ideas, disclosures and improvements; and, whether during the term hereof or
thereafter, the Executive shall execute and deliver to the Company such formal transfers and assignments and such other papers and documents as maybe required of the Executive at the Company’s expense to permit the Company or any person or
entity designated by the Company to file and prosecute the patent applications and, as to copyrightable material, to obtain copyright thereon. Any invention by the Executive within one (1) year following the termination of this Agreement shall
be deemed to fall within the provisions of this paragraph unless proved by the Executive to have been first conceived and made following such termination. 
 8. Covenant Not to Compete. 
 (a) During the term hereof and for a period of one (1) year
thereafter, the Executive shall not compete, directly or indirectly, with the Company, interfere with, disrupt or attempt to disrupt the relationship, contractual or otherwise, between the Company and any customer, client, supplier, consultant, or
employee of the Company and any customer, client, supplier, consultant or employee of the Company, including, without limitation, employing or being an investor (representing more than 5% equity interest) in, or officer, director, or consultant to,
any person or entity which employs any former key or technical employee whose employment with the Company was terminated after the date which is one year prior to the date of termination of the Executive’s employment therewith. An activity
competitive with an activity engaged in by the Company shall mean performing services whether as an employee, officer, consultant, director, partner, or sole proprietor for any person or entity engaged in the business then engaged in by the Company,
which services involve the development and marketing of a web-based system to collect, manage, and compile clinical trial and research data. 
 (b) It is the desire and intent of the parties that the provisions of this Section shall be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought.
Accordingly, if any particular portion of this Section shall be adjudicated to be invalid or unenforceable, this Section shall be deemed amended to delete therefrom the portion thus adjudicated to be invalid or unenforceable, such deletion to apply
only with respect to the operation of this Section in the particular jurisdiction in which such adjudication is made. 
 (c) Nothing in this
Section shall reduce or abrogate the Executive’s obligations during the term of this Agreement under Sections 4 and 5 hereof. 
 9.
Remedies. If there is a breach or threatened breach of the provisions of Section 6, 7 or 8 of this Agreement, the Company shall be entitled to an injunction restraining the Executive from such breach. Nothing herein shall be construed as
prohibiting the Company from pursuing any other remedies for such breach or threatened breach. 
 10. Assignment. This Agreement may
not be assigned by any party hereto; provided that the Company may assign this Agreement: (a) to an affiliate so long as such affiliate assumes the Company’s obligations hereunder; provided that no such assignment shall discharge the
Company of its obligations herein, or (b) in connection with a merger or consolidation involving the Company or a sale of more than 50% of the Company’s securities or assets, to the surviving corporation or purchaser as the case may be, so
long as such assignee assumes the Company’s obligations thereunder. 
  

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 11. Notices. Any notice required or permitted to be given under this Agreement shall be sufficient
if in writing and sent by registered mail to the Executive at his residence at: 
 Stephen Johnson 
 [Insert Address] 
 and to the Company at:

 OmniComm Systems, Inc. 
 2101 W. Commercial Blvd., Suite 4000 
 Ft. Lauderdale, Florida 33309 
 Attention: Chief Financial Officer 
 12. Waiver of Breach. A waiver by the Company or the Executive of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any subsequent breach by the other party. 

13. Entire Agreement. This instrument contains the entire agreement of the parties. It may be changed only by an agreement in writing signed by
a party against whom enforcement of any waiver, change, modification, extension or discharge is sought. 
 14. Governing Law. This
Agreement shall be construed in accordance with the laws of the State of Florida. All questions with respect to the construction hereof and the rights and liabilities of the parties hereto shall be governed by the laws of the State of Florida. Any
action or proceeding arising out of or relating hereto shall be brought in Broward County, State of Florida. 
 IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the day and year first hereinabove written. 
  

			
	OmniComm Systems, Inc.
		
	By:	 	 /s/ Cornelis F. Wit

		 	Cornelis F. Wit
		 	Chief Executive Officer
	
	Executive
		
	By:	 	 /s/ Stephen Johnson

		 	Stephen Johnson

  

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 Exhibit “A” 
 Incentive and Non-Qualified Stock Option 
 Total Number of Shares Subject to Options: 450,000

 Vesting Schedule: 3 years 
  

							
	 	  	Amount	  	Price	  	 Vesting Date

	 Year 1 2006
	  	150,000	  	Market Price	  	September 30, 2006
	 Year 2 2007
	  	150,000	  	Market Price	  	September 30, 2007
	 Year 3 2008
	  	150,000	  	Market Price	  	September 30, 2008

 Other rights: 
 1. “Piggyback” rights in equal proportion to other employees. 
 2. Acceleration of all unvested options in the event of change in
control, defined as a sale of more than 50% of the Company’s securities or assets to a third party. 
 3. Options will be granted as Incentive Stock
Options (ISO’s) to the extent possible under Sec. 422 of the Internal Revenue Code of 1986. 
 4. Length of options: 7 years 
 Notes: 
 1. ISO: Incentive stock option pursuant to Sec. 422 of
the Internal Revenue Code of 1986. ISO option price shall be the fair market value at the date of grant 
 2. NonQ: Non-qualified stock option.

  

 5Amendment to Master Lease Agreement

 Exhibit 10.1 
 AMENDMENT #01/06 
 to the Master Lease Agreement of July 01, 1996 
 between Open Joint Stock Company “Real Estate Investment Fund PIOGLOBAL” 
 and PREA, L.L.C. 
 THIS AMENDMENT #01/06 (this “Amendment”) to the
Master Lease Agreement dated 1 July 1996 is executed on this 14th day of August of 2006 in Moscow, Russian Federation between: 
 PREA, L.L.C.
(formerly known as Pioneer Real Estate Advisors, Inc.), a legal entity incorporated under the laws of State of Delaware, USA, having its principal place of business at: One Faneuil Hall Marketplace, Boston, Massachusetts, 02109, U.S.A., INN
9909011493 (Certificate on registration with tax authorities form series 77 #0412153 issued by the Inter-district Inspectorate of Ministry on Taxes and Duties of the Russian Federation #38 of Moscow on August 04, 2004)
(“PREA”), represented by James Sheppard, the Head of the Moscow representative office of PREA, acting on the basis of power of attorney, 
 and 
 Open Joint Stock Company “Real Estate Investment Fund PIOGLOBAL” (formerly known as OAO
“Investment Fund PIOGLOBAL”, OAO “Pioneer First Investment Fund”, OAO “First Investment Voucher Fund”), a legal entity incorporated under the laws of the Russian Federation, registered by Moscow Registration Chamber on
September 30, 1992 #017.171, principal state registration number 1027739441971 assigned by the Inter-district Inspectorate of Ministry on Taxes and Duties of the Russian Federation #39 of Moscow on October 23, 2002 (Certificate form series
77 #005111184), INN 7704038268 (Certificate form series 77 #002024935), located at: Russian Federation, 125445, Moscow, ul. Smolnaya, 24 corp. D (the “Fund”), represented by Closed Joint Stock Company “PIOGLOBAL Asset
Management” (principal state registration number 1027739442389 assigned by the Inter-district Inspectorate of Ministry on Taxes and Duties of the Russian Federation #39 of Moscow on October 23, 2002), its management company acting pursuant
to paragraph 3 of Article 3 of the Federal Law “On Investment Funds” and the Contract on Transfer of Authorities of Sole Executive Management Body of July 24, 2002 # B-322 (the “Management Company), represented by Andrei
M. Uspensky, General Director of the Management Company, acting on the basis of the Charter of the Management Company, 
 PREA and the Fund further jointly referred to as the “Parties”, 
 WHEREAS: 
  

	 	1.	The Fund owns the entire building, located at: Russian Federation, Moscow, Ulitsa Smolnaya, 24D (the “Building”) as confirmed by certificate on the state
registration of right issued on 03 August 2006 by the Moscow Main Department of the Federal Registration Service, form series 77AG 433405; 

  

	 	2.	The Parties entered into the Master Lease Agreement dated July 1, 1996, as amended by the latest Amendment of May 05, 2004, registered by the Institution of Justice on
State Registration of Rights to Immovable Property and Transactions with It on the Territory of Moscow on June 08, 2004, registration number #77-01/02-486/2004-672, in respect of the whole Building (the “Lease”);

  

	 	3.	The Parties agreed to amend the Lease to reflect results of the most recent technical inspection and measurements of the Building’s floor space by the Northern Territorial
Bureau of Technical Inventory of Moscow completed as of March 15, 2006, and to specify the Building’s address in accordance with data contained in the Moscow City Address Register of Buildings and Constructions. 

 NOW, THEREFORE, the Parties hereby entered into this Amendment on the following: 
  

	 	1.	Article 1 of the Lease shall be restated to read as follows: 

 “Article 1. Subject of the Agreement 
 Lease. The Fund hereby leases to PREA, and PREA hereby leases from the
Fund, the entire non-residential office building owned by the Fund with total area of 22,239.8 square meters, located at 24D, Ulitsa Smolnaya, Moscow, Russian Federation, with conventional number 24228 (the “Building”).”.

  

	 	2.	This Amendment shall constitute an integral part of the Lease and the Lease shall continue in full force and effect as hereby amended. 

  

	 	3.	This Amendment is subject to state registration. The Fund shall bear expenses on payment of the state duty related to the state registration of this Amendment. PREA shall be
responsible for submission to the governmental authority on state registration of rights to immovable property and transactions with it of set of documents necessary for the state registration. The Fund shall timely provide PREA with the Fund’s
documents requested by PREA required for the state registration hereof. 

  

	 	4.	The Parties hereby execute this Amendment in six originals, three in Russian and three in English, one original in each language for each of the Parties and for the governmental
authority on state registration of rights to immovable property and transactions with it. In the case of differences in interpretation between the English and the Russian text hereof, the English text shall prevail. 

 Signatures and addresses of the Parties. 

			
		
	The Fund:	 	PREA:
		
	 Open Joint Stock Company “Real Estate Investment Fund PIOGLOBAL” Smolnaya Street, 24, corp.D
 Moscow, 125445
 Russian Federation.
  
 Postal address for notifications:
 General Director of the Management
 Company of OAO “PIOGLOBAL”
 Gazetny pereulok, 5,
 Moscow, 103918
 Russian Federation
	 	 PREA, L.L.C.
  
 One Faneuil Hall Marketplace
 Boston, Massachusetts, 02109 U.S.A.
  
 Moscow Representative office:
 Smolnaya Street, 24, corp.D,
 Moscow, 125445 Russian Federation

  

			
	Open Joint Stock Company	 	
	“Real Estate	 	
	Investment Fund PIOGLOBAL”	 	    PREA, L.L.C.

  

					
	 /s/ Andrei M. Uspensky
	 		 	 /s/ James Sheppard

	Andrei M. Uspensky	 		 	James Sheppard
	General Director of	 		 	Head of the Moscow
	the Management Company	 		 	Representative office
	ZAO “PIOGLOBAL Asset Management”	 		 	
			
	[seal PIOGLOBAL Asset Management]	 		 	[seal PREA, L.L.C.]
			
	 /s/ Nikolai I. Preobrazhensky
	 		 	
	Nikolai I. Preobrazhensky	 		 	
	Chief Accountant

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