Document:

Exhibit 10.7

As of June 27, 2008

 

Mr. Jordan Banks

144 Strathallan Blvd.

Toronto, ON  M5N 1S7

 

Dear Mr. Banks:

 

Re: End of employment with JumpTV Inc.

 

This letter is written to confirm the
agreement that you have reached with JumpTV Inc. (the “Company”) regarding the
end of your employment with the Company.

 

We have mutually agreed that you have
resigned your employment with the Company effective June 27, 2008 (“Termination
Date”).  In accordance with your
employment agreement dated October 12, 2007, as amended (“Employment
Agreement”), you will be paid for days worked, and vacation accrued, up to and
including the Termination Date.

 

Notwithstanding any provisions in your
Employment Agreement to the contrary, we have agreed that the Company will
provide you certain final payments and benefits in respect of the end of your
employment as follows:

 

(a)                                 The
Company will pay you, or your estate, $450,000 less applicable statutory
deductions by direct deposit on its next regularly scheduled payroll date.

 

(b)                                The
1,325,000 Stock Appreciation Rights (“SARs”) that the Company granted to you
with an exercise price of US$3.00 will be accelerated such that they are all
vested effective as of the Termination Date. 
These 1,325,000 SARs will be exercisable for a 90-day period following
the Termination Date, which is September 25, 2008.

 

(c)                                 The
Company will grant to you, subject to regulatory and Board of Directors
approval, 370,000 SARs at a price of US$0.58, which is the five day
volume-weighted average trading price of the Company’s common shares on the
Toronto Stock Exchange.  These 370,000
SARs will be fully vested upon grant and will be exercisable until December 31,
2008.  The Company will use its best
efforts to acquire all necessary approvals in Connection with this grant, and
will additionally seek to acquire the approval for you to hold these SARs in a
personal holding corporation.  All SARs
grants will be in accordance with, and subject to, the Company’s SARs Plan, as
amended.  In the unlikely event that the
Company fails to obtain the required approvals, then you and the Company agree
that we will renegotiate the agreements contained herein, and any amounts
previously paid to you pursuant to paragraph (a) prior to such time will
be held in escrow by you until we reach an approved agreement.

 

 

(d)                                The
Company will transfer ownership of the laptop computer and Blackberry device
assigned to you.  No rights to the
software installed on the laptop computer will be assigned to you, except for
the operating system.  You will undertake
to permanently erase, to the best of your ability, any data on the laptop
computer or Blackberry device that reflects the confidential or proprietary
information of the Company or its present or future affiliates.

 

(e)                                 You
will be entitled to enjoy the group medical, dental, insurance, short term
disability and long term disability benefits normally made available by the
Company to its senior management employees for a period of one year following
the Termination Date.  To the extent that
the Company is unable to offer one or more of the benefits to you for all or a
portion of this period, the Company will offer to make a one-time payment to
you equal to the amount of premiums that would have been payable for the
remaining period of entitlement.

 

In consideration of the foregoing, we have
agreed that as a condition of these payments being made and benefits being
conferred, you will not be entitled to any other payment, right, benefit, claim
or entitlement of any kind whatsoever in respect of the Company or its present
and future subsidiaries, directors, officers or employees.  In furtherance of this, you agree to execute
and return to the Company the attached release on or prior to July 10,
2008.

 

Nothing in this letter amends or cancels the
obligations in your Employment Agreement related to non-disclosure,
non-solicitation, non-competition, or intellectual property.

 

Jordan, we appreciate the value that you have
brought to JumpTV, and we wish you the best in your personal and business
future.

 

 

Yours truly,

 

	
  /s/ G. Scott Paterson

  	
   

  
	
  G. Scott Paterson

  	
   

  
	
  Executive Chairman

  	
   

  
	
  JumpTV Inc.

  	
   

  

 

	
  AGREED as of the date first above written.

  	
   

  
	
   

  	
   

  
	
  /s/ Jordan Banks

  	
   

  
	
  Jordan Banks

  

 

 

ATTACHMENT

 

RELEASE

 

I, Jordan Banks, (the “Releasor”) of the
Province of Ontario, in return for good and valuable consideration as described
in a letter of even date between me and JumpTV Inc., and for other good and
valuable consideration contained therein, the sufficiency and receipt whereof
by me is hereby expressly acknowledged, do hereby release and forever discharge
JumpTV Inc. Inc., all of its affiliates, any of their respective predecessor or
successor entities (collectively the “Companies”) and all officers, directors,
employees, servants and agents of the Companies (hereinafter collectively with
the Companies referred to as the “Releasees”) of and from all actions, causes
of action, suits, debts, demands, dues, bonds, accounts, covenants, contracts
and claims whatsoever which I ever had, now have or which I can, shall or may
hereafter have for or by reason of any cause, matter or thing whatsoever
(collectively, a “Claim”), including without limitation, any Claim relating to
my employment with JumpTV Inc. or its affiliates, or the termination thereof.

 

I hereby specifically covenant, represent and
warrant to the Releasees that I have no Claim against the Releasees for or
arising out of my employment with any of the Companies or the termination of
such employment under any legislation or otherwise, including, without limitation,
any Claims for pay, notice of termination, pay in lieu of such notice,
severance pay, expenses, bonus, commission, overtime pay, interest, benefits
and/or vacation pay and specifically including any Claim under the Canada Labour Code, the Employment Standards Act
(Ontario),the Canadian Human Rights Act,
the Ontario Human Rights Code, or any other
relevant employment or labour legislation applicable to me, all as amended
(collectively, the “Legislation”).  I
further agree and understand that the aforesaid consideration received by me
includes all amounts to which I may have been entitled under the Legislation.

 

I acknowledge that I have not been subjected
to any form of discrimination whatsoever and hereby represent and warrant that
I have not commenced any complaint and undertake not to commence any complaint
under the Canadian Human Rights Act,
the Ontario Human Rights Code or any other
similar legislation by reason of my employment with any of the Companies or
termination thereof.

 

In the event that I should hereafter make any
Claim or demand or commence or threaten to commence any action, Claim or
proceeding against the Releasees or any one or more of them for or by reason of
any cause, matter or thing, this document may be raised as an estoppel and complete
bar to any such Claim, demand, action, proceeding or complaint.

 

I agree not to disclose to any third party
the private affairs of any of the Releasees, or any trade secrets or
confidential information regarding or in relation to any of the Releasees
including, without limitation, information relating to any of the Releasees’
clients and potential clients, rate structures, sales volumes, marketing plans,
technical information, operational information and product information.  I further agree that all records and copies
of records dealing with or relating in any way to the operations and activities
of any of the Releasees, made or received 

 

 

during my employment with any of the
Releasees hereunder, are, and shall remain the property of the Releasees, and
if not already surrendered, shall be surrendered by me immediately.

 

I acknowledge that: (i) in the
performance of my duties with the Releasees, I have acquired detailed,
confidential knowledge and information regarding the business, operational and
financial affairs of the Releasees; and (ii) the Releasees will suffer
irreparable harm and damage if any such knowledge or information is disclosed
or made available to any competitors of the Releasees.

 

I further promise not to make any verbal or
written comments to members of the public which, in the reasonable opinion of
the Releasees, reflect negatively on any of the Releasees.

 

I have read the above Release and have been
given an opportunity to obtain independent legal advice with respect thereto
and confirm that I have sought and received the advice or hereby waive my right
to seek the advice, and confirm that I am executing this Release freely,
voluntarily and without duress.  I
understand and confirm that this Release contains a full and final release of
all Claims that I have or may have against each of the Releasees, including but
not limited to Claims relating to my employment or the termination of such
employment, and I acknowledge that there is no admission of liability on the
part of any of the Releasees and that any such liability is in fact denied.

 

I hereby further agree to keep in confidence
and I agree not to reveal or disclose orally or in writing, any details in
connection with this settlement or the payment made hereunder to any party, including
any employees, agents, servants or representatives of any of the Releasees
hereunder, except as may be required by law or to my retained lawyers or
financial advisors.

 

All of the foregoing shall enure to the
benefit of each. of the Releasees, their heirs, executors, administrators,
successors and assigns, and shall be binding upon me and my respective heirs,
executors, administrators and assigns.

 

IN WITNESS WHEREOF,
I have duly executed this Release this 16th day of July, 2008

 

	
  SIGNED, SEALED AND

  	
    )

  	
   

  
	
  DELIVERED

  	
    )

  	
   

  
	
  In the presence of:

  	
    )

  	
   

  
	
   

  	
    )

  	
   

  
	
  Illegible

  	
    )

  	
  /s/ Jordan Banks

  
	
   Witness

  	
   

  	
   Jordan BanksExhibit 10.8

 

EMPLOYMENT AGREEMENT

 

THIS
AGREEMENT made effective as of the 31, of August, 2007

 

BETWEEN:

 

JumpTV
Inc., a Corporation incorporated under the federal
laws of Canada and having its head office in Toronto, Ontario

 

(hereinafter
referred to as the ‘Company”)

 

OF THE FIRST
PART

 

AND:

 

Nada Usina,
executive, domiciled at Flagler Beach, Florida

 

(hereinafter
referred to as the “Executive”)

 

OF THE SECOND
PART

 

WHEREAS
the Company provides online delivery of television networks from broadcasters
around the world via the internet;

 

AND
WHEREAS the Company and the Executive (referred to
herein individually as a “Party” and collectively as the “Parties”) wish to
enter into this employment agreement (the “Agreement”) under the terms and
conditions herein;

 

AND
WHEREAS during the course of the Executive’s
employment with the Company, the Executive will be introduced to, have contact
with, and her services may be solicited by, one or more clients and suppliers
of the Company;

 

AND
WHEREAS the Executive will acquire knowledge,
experience and expertise, as well as detailed knowledge of the Company’s
confidential customer and supplier lists and information, marketing techniques,
price lists, trade secrets and other property which is and shall be the
property of the Company, and the disclosure, loss or, unauthorized use of which
would substantially harm the business of the Company;

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that, in
consideration of the premises above and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereby agree as follows:

 

 

ARTICLE 1

TERM OF EMPLOYMENT

 

1.1           The term of employment under this Agreement shall commence
on August 1, 2007 (the “Start Date”) and shall be for an indefinite term,
subject to termination as provided for in Article 6 hereof.

 

ARTICLE 2

DUTIES AND RESPONSIBILITIES

 

2.1           The Executive shall serve the Company as the President of
the Company’s JumpTV Sports Division or XOS Subsidiary (“Positions”).  The Executive shall report to the Company’s
President and COO, or the CEO if the Board of Directors of the Company deems
appropriate.  The Executive will also be
an Officer in the Company.  The Executive
shall perform such duties and exercise such powers as are normally associated
with and incidental and ancillary to the Positions and shall perform such
additional duties and exercise such additional powers as may be accorded to her
by the President and COO.

 

2.2           The Executive agrees, during the term of her employment, to
devote her entire working time, services, skill and ability to such employment
and to serve at all times with loyalty and honesty in the best interests of the
Company.

 

ARTICLE 3

COMPENSATION AND BENEFITS

 

3.1           In consideration of the services provided by the Executive
hereunder, the Company commencing on the Start Date shall pay to the Executive
an annual base salary (“Base Salary”) in the amount of US$234,000 exclusive of
any bonuses paid to executive.  The Base
Salary shall be payable in equal bi-weekly instalments in arrears, less those
deductions, withholdings or contributions which are required by law.  A retention bonus of US$22,000 will be paid
to Executive on January 1, 2008 provided the Executive is in the employ of
the Company at that time.  Total salary
and bonus compensation increases will be reviewed in good faith by the
Compensation Committee in early 2008 (no later than end of Q1).

 

3.2           The Executive shall be entitled to receive an annual bonus (“Bonus”)
equivalent up to 50% of the Executive’s Base Salary and shall be based on
certain objectives to be determined and agreed upon prior to each fiscal
year.  Determination of Executive’s
meeting such objectives shall be decided by the Compensation Committee of the
Board in its reasonable discretion.  For
the fiscal year ended December 31, 2007, the Bonus shall be pro-rated for
the five (5) months as per the Start Date or the entire twelve (12) months
if defined as such (ie.XOS Management Bonus accruals) per Asset Purchase
Agreement.

 

2

 

3.3           The Executive shall be eligible for any group medical,
dental and insurance programs including short and long term disability, as well
as 401k plan applicable to the senior executives of the Company upon the establishment
of such programs by the Company and as per the terms and conditions of such
programs.  The Company shall pay all
premium costs and contributions associated with the group benefits program
under which the Executive is covered. There will be no gap in coverage from
current XOS plans to new JumpTV plans.

 

3

 

ARTICLE 4

INCENTIVE COMPENSATION

 

4.1           The Executive shall be eligible to participate in any
Company stock option plan and/or Stock Appreciation Rights (“SARs”) in
accordance with the plan terms as amended from time to time.  In connection the acquisition by JumpTV of
the assets of the Broadband Network division of XOS Technologies Inc., the
Company confirms the Executive shall be granted on the Start Date retention
warrants to purchase 500,000 shares of JumpTV stock with each warrant carrying
an exercise price equivalent to the simple average trading price for the JumpTV
common stock as quoted on the Toronto Stock Exchange (“TSX”) for the last day of
each of the following months: June, July, August, September.  The retention warrants will be exercisable
over 5 years and 1/48th of the aggregate
amount will vest every month after the Start Date.  Since the Executive is an officer of the
Company, the issuance of these warrants is not subject to TSX approval.

 

4.2           The Executive shall be eligible to participate in future
grants of warrants, options or SARs or other forms of long term incentive
compensation as approved by the Board (or the compensation committee thereof).

 

ARTICLE 5

VACATION

 

5.1           The Executive shall be entitled to four (4) weeks
annual paid vacation during each year to be taken at such times as may be
mutually agreed between the Executive and the Company, acting reasonably.  Unused vacation up to 2 weeks may be carried
over for up to eighteen (18) months after the completion of each fiscal year,
and all vacation due and owing, including vacation time carried over, shall be
paid out as salary and bonus on termination of employment for any reason.

 

ARTICLE 6

TERMINATION OF THIS AGREEMENT

 

6.1           The employment of the Executive hereunder may be terminated
by either the Company or the Executive, as the case may be, in any of the
following circumstances:

 

(a)                                  at any time by the Company
forthwith, without notice and without pay (other than salary earned through the
termination date) in lieu of notice, for “Cause”;

 

(b)                                 automatically upon the death of
the Executive in accordance with Section 12 hereof;

 

(c)                                  by the Company, without cause,
or by the Executive for “Good Reason” by providing to the Executive the
Severance Payment (as that term is hereinafter defined), the Severance Benefits
(as that term is hereinafter defined) and Accelerated Vesting (as that term is
hereinafter defined) of incentive compensation.;

 

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(d)                                 by the Executive without Good
Reason upon no less than sixty (60) days notice (the “Notice Period”), provided
that the Executive’s employment shall terminate on the date the Notice Period
expires.  In such circumstance, the
Company may request that the Executive cease duties prior to the expiry of the
Notice Period.  The Company shall, in
such event, pay to the Executive an amount equal to the difference between the
amount which the Executive would have received had the employment of the
Executive been continued throughout the Notice Period and the amount actually
paid by the Company to the Executive during the Notice Period.  In the event Executive terminates her
employment without Good Reason, she will receive no other payments or benefits.

 

6.2           For the purposes of this section 6,

 

(a)                                  “Cause” means:

 

1.             The Executive has
engaged in willful or material misconduct, including willful or material
neglect, refusal or failure to perform the Executive’s Duties, and has failed
to cure such default within fifteen (15) days after receipt of written notice
of such default from the Company,

2.             The Executive has
committed fraud, misappropriation, or embezzlement in connection with the
Company’s business,

3.             The Executive has
been convicted of or has pleaded nolo contendere to any criminal offense other
than traffic violations or misdemeanors not involving theft,

4.             The Executive has
breached a material provision of this Agreement and has failed to cure such
breach within ten (10) days after receipt of written notice of breach from
the Company

 

(b)                                 “Severance Payment” means an
amount representing an average of twelve (12) months Base Salary and average
Bonus calculated over the prior two (2) year period if she is employed for
more than 12 months.  If she is employed
for less than 12 months, the Severance Payment would be US$150,000; and

 

(c)                                  “Severance Benefits” means the
provision of employment benefits described in Section 3.3 hereof for a
period equal to twelve (12) months.

 

(d)                                 “Good Reason” shall be deemed to
have occurred if any material and adverse change in the title, status,
position, job function, job responsibilities and/or reporting responsibilities
of the Executive from those current at the date hereof has occurred without the
prior written consent of the Executive. 
Good Reason is deemed to have occurred upon written notice from the
Executive to the Company of the material change as described above and such material
change is not cured by the Company within ten (10) business days of
receiving notice.

 

(e)                                  “Accelerated
Vesting” shall mean:

 

(i)                                     in
the case of a Change of Control and regardless of the current capacity of the
Executive, the automatic vesting of any unvested warrants, options, or SARs or 

 

5

 

other
incentive compensation which are subject to vesting within a period of twelve
(12) months from the date of termination. 
The Executive shall be entitled to exercise all such unexercised
warrants, options, or SARs or other incentive compensation at any time before
the expiry date for the exercise of the warrants, options, or SARs or other
incentive compensation (including pro rata Bonus) as defined in the plans; and

 

(ii)                                  in
the case of a termination by the Company on a without cause basis and
regardless of the current capacity of the Executive, the automatic vesting of
any unvested warrants, options or SARS or other incentive compensation which
are subject to vesting within a period of twelve (12) months from the date of
termination.  The Executive shall be
entitled to exercise all such unexercised warrants, options or SARS or other
incentive compensation at any time before the expiry date for the exercise of the
options/SARs or other incentive compensation (other than Bonus) as defined in
the plans.

 

ARTICLE 7

NON-COMPETITION

 

7.1           As used in Articles 7 and 8, the following words and phrases
are defined as follows:

 

(a)                                  “Business” means the business
and undertaking earned on by the Company from time to time during the term of
the Executive’s employment with the Company up until the date of termination of
the Executive’s employment hereunder including, without limitation, the
business of providing or support of College or University sponsored sports web
sites, in the design, development, sale or support of digital video platform
for professional and college athletic organizations or rebroadcasting ethnic
television channels over the internet to any internet enabled device by way of
live streaming.;

 

(b)                                 “Effective Period” means during
the period of employment and for a period of eighteen months (18) from the date
of discontinuance of employment.

 

(c)                                  “Person” means any individual,
corporation, partnership, trustee or trust or unincorporated association; and

 

(d)                                 “Territory” means the anywhere
that the Company has conducted business during Executive’s employment.

 

7.2           The Executive covenants to and agrees with the Company that
during the term of this Agreement and during the Effective Period the Executive
will not without the express written consent of the Company carry on or be
engaged in or have any financial or other interest in any Person, or be
otherwise commercially involved in or with any endeavour, activity, Person or
business in any part of the Territory which is the same as or in competition
with the Business, save and except for an interest of less than 5% in a
publicly traded company.

 

6

 

ARTICLE 8

NON-SOLICITATION

 

8.1           The Executive covenants to and agrees with the Company that
during the term of this Agreement and, in the event the Executive resigns or
her employment is terminated for any reason, for a period equal to eighteen
(18) months following the date of such resignation or termination the Executive
will not, without the express written consent of the Company:

 

(a)                                  directly or indirectly assist,
or have any direct or indirect interest in (in case whether as principal,
agent, independent contractor, supplier, consultant, lender, financier or in
any capacity whatever) any Person who competes with the Business;

 

(b)                                 directly or indirectly solicit
or attempt to solicit any suppliers, customers, partner or employees to or of
the Business away from the Company (whether a principal, agent, independent
contractor or in any capacity whatever); or

 

(d)                                 directly or indirectly
deliberately take any action which may reasonably result in the relations
between any member of the Company and the suppliers, customers, partner or
employees to or of the Business being impaired or which may otherwise be
detrimental to the Business in a material manner.

 

ARTICLE 9

CONFIDENTIALITY

 

9.1           The Executive covenants to and agrees with the Company that,
from and after the date hereof, the Executive shall, unless the Executive shall
first have secured the Company’s written consent, keep confidential and shall
not divulge, communicate, disclose, copy, destroy or use at any time, any
secret or confidential information or technology (including without limitation
matters of a technical nature, such as know-how, prototypes, models, parts,
machines, inventions, discoveries, improvements, secret data, and research
projects, computer programs and software, information about costs, profits,
markets, sales, lists of customers, and other information of similar nature to
the extent not available to the public) of the Company or other third parties
of which the Executive has become informed of during, or as result of, the
Executive’s involvement with the Company, whether or not developed by the
Executive or as a result of the Executive’s involvement with the Company,
except: (i) as required in her duties to the Company; (ii) if such
information or technology is otherwise available to the public; or (iii) if
and to the extent that the Executive is required by law to disclose such
information or technology, provided that in such circumstances the Executive
shall have given prior written notice to the Company of her obligation, to the
extent possible, and the Company has not, prior to the Executive being so
required by law to make such disclosure, obtained judicial relief from such
legal requirement to disclose.  The
Executive covenants to and agrees with the Company that upon resignation or
termination of her employment for any reason, she will deliver to the Company
forthwith all such confidential information in any format or medium that is in
her possession.  Furthermore, the
Executive warrants that she is under 

 

7

 

no duty of confidentiality to any third party that would preclude full
performance of the duties contemplated in this Agreement.  The Executive will not disclose to the
Company or induce the Company to use any inventions or confidential information
belonging to others.

 

ARTICLE 10

INTELLECTUAL PROPERTY

 

10.1         The Executive agrees that any and all ideas, discoveries,
inventions and improvements thereon (“Inventions”) which she may conceive or
make during the period of her employment, either alone or jointly with others,
whether or not reduced to practice, relating or in any way appertaining to or
connected with the Business shall be the sole and exclusive property of the
Company.  The Executive will, whenever so
requested by the Company, execute any and all applications, assignments, and
other instruments which the Company shall deem necessary in order to apply for
and obtain letters patent of Canada or foreign countries for said Inventions or
for any other reason.

 

The Executive
also acknowledges and agrees that all copyright and other rights in any
designs, plans, specifications, documents or other work (“Work”) she creates
during the period of her employment with the Company, whether or not such Work
is created in the course of her employment relating to the Business shall be
the sole and exclusive property of the Company. 
The Executive hereby assigns all such rights to the Company. The
Executive will, whenever so requested by the Company, execute any and all
applications, assignments, and other instruments which the Company shall deem
necessary in order to apply for and obtain registration of copyright in any
Work in Canada or foreign countries.

 

The Executive
waives all moral rights or author’s rights in any Work she may create.

 

At the
commencement of her employment, and at all times during the term of this
Agreement, the Executive will promptly disclose to the Company all Inventions
and Works she has conceived or created, whether in the course of her employment
or otherwise, relating to the current business of the Company.  If the nature of the Company’s business
changes, the Executive will promptly disclose all Inventions and Works relating
to any new research and development, products or business plans of the Company.

 

The foregoing
obligations shall continue beyond the termination of the term of this Agreement
with respect to any and all Inventions or Work conceived or made by the
Executive during the term hereof and shall be binding on the Executive’s
assigns, executors, administrators or other legal representatives.

 

ARTICLE 11

CHANGE OF CONTROL

 

11.1         “Change in Control” means a transaction or series of
transactions whereby directly or indirectly:

 

8

 

(a)                                  any person or combination of
persons obtains a sufficient number of securities of the Company to affect
materially the control of the Company; for the purposes of this Agreement, a
person or combination of persons holding shares or other securities in excess
of the number which, directly or following conversion thereof, would entitle
the holders thereof to cast 50% or more of the votes attaching to all shares of
the Company which may be cast to elect directors of the Company, shall be
deemed to be in a position to affect materially the control of the Company; or

 

(b)                                 the Company shall consolidate or
merge with or into, amalgamate with, or enter into a statutory arrangement
with, any other person (other than a subsidiary of the Company) or any other
person (other than a subsidiary of the Company) shall consolidate or merge with
or into, or amalgamate with or enter into a statutory arrangement with, the
Company, and, in connection therewith, all or part of the outstanding voting
shares shall be changed in any way, reclassified or converted into, exchanged
or otherwise acquired for shares or other securities of the Company or any
other person or for cash or any other property;

 

(c)                                  the Company shall sell or
otherwise transfer, including by way of the grant of a leasehold interest (or
one or more of its subsidiaries shall sell or otherwise transfer, including by
way of the grant of a leasehold interest), property or assets (A) aggregating
more than 50% of the consolidated assets (measured by either book value or fair
market value) of the Company and its subsidiaries as at the end of the most
recently completed financial year of the Company or (B) which during the
most recently completed financial year of the Company generated, or during the
then current financial year of the Company are expected to generate, more than
50% of the consolidated operating income or cash flow of the Company and its
subsidiaries, to any other person or persons (other than the Company or one or
more of its subsidiaries); or

 

(d)                                 there occurs a change in the
composition of the Board, which occurs at a single meeting, or a succession of
meetings occurring within 6 months of each other, of the shareholders of the
Company, whereby such individuals who were members of the Board immediately
prior to such meeting or succession of meetings cease to constitute a majority
of the Board without the Board, as constituted immediately prior to such
meeting, approving of such change.

 

11.2         Notwithstanding anything to the contrary contained in this
Agreement, if a Change in Control occurs, the Executive shall be entitled to
elect to terminate her employment with the Company and to receive payments and
benefits in accordance with Section 6. 
This Section 11 shall not apply if the Change in Control involves a
sale of securities or assets of the Company with which the Executive is
involved as a purchaser in any manner, whether directly or indirectly (by way
of participation in a corporation or partnership that is a purchaser or by
provision of debt, equity or purchase-leaseback financing).

 

11.3         All termination rights of the Executive provided for in this
Section 11 are conditional upon the Executive electing to exercise such
rights by notice given to the Company within 120 days of the Change of Control.

 

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ARTICLE 12

DEATH OF EXECUTIVE

 

12.1         In the event that the Executive dies prior to the
satisfaction of all of the Company’s obligations under the terms of this
Agreement, any remaining amounts payable to the Executive by the Company shall
be paid to the person or persons previously designated by the Executive to the
Company for such purposes (“Executive’s Designate”).  The Executive’s Designate shall be made in
writing, signed by the Executive and dated and filed with the Secretary of the
Company.  In the event that no
designation is made, all such remaining amounts shall be paid by the Company to
the estate of the Executive.

 

12.2         Effective the date of the Executive ‘s death, the Executive’s
Designate or the estate of the Executive, as the case may be, shall also be
entitled to an automatic vesting of any unvested warrants, options or SARS or
other incentive compensation.  The
Executive’s Designate or the estate of the Executive, as the case may be, shall
be entitled to exercise all such unexercised warrants, options or SARS or other
incentive compensation at any time before the expiry date for the exercise of
the warrants, options or SARS or other incentive compensation (other than
Bonus) as defined in the plans.

 

ARTICLE 13

MISCELLANEOUS

 

13.1         This Agreement shall be the whole and complete agreement between
the Parties with respect to the employment of the Executive; it replaces and
supersedes any and all previous verbal or written agreements that may have been
entered into, and may not be amended or modified except by written amendment
signed between the Parties hereto.

 

13.2         In the event that any part of this Agreement shall be
determined at any time to be invalid, such provisions shall be deemed severable
and deleted here from and the remainder of this Agreement shall constitute the
whole agreement of the Parties hereto and shall, except as hereinbefore
provided, continue in full force and effect.

 

13.3         The Executive hereby confirms that he/she is not a party to
any agreement or under any other obligation to anyone, including any former
employer nor does the Executive have any other interest which is inconsistent
with or in conflict with or which would prevent, limit or impair the Executive’s
performance of any obligations hereunder which the Executive has not disclosed
in writing to the Company.  The Executive
acknowledges that the Company is not requesting the Executive disclose any
confidential information which the Executive may have obtained from a former
employer.

 

13.4         The Executive acknowledges that she has been given the
opportunity to obtain independent legal and tax advice regarding the execution
of this Agreement and that she understands the contents of this agreement and
that she is executing the same voluntarily and without pressure from the
Company or anyone on its behalf.

 

13.5         This Agreement shall ensure to the benefit of and be binding
upon the Parties hereto, their respective successors, heirs, representatives,
administrators and the assigns of the 

 

10

 

Company.  The Executive shall not
assign or transfer this Agreement or any of her rights or obligations
hereunder.

 

13.6         The provisions of Articles 7, 8, 9 and 10 shall survive the
termination of this Agreement.

 

13.7         This Agreement shall be governed by and construed according
to the laws of the Province of Ontario and the federal laws of Canada
applicable therein, and both Parties hereby agree that the Courts of the
Province of Ontario have exclusive jurisdiction in any dispute, action, cause
or action or otherwise that may arise from this Agreement.

 

13.8         Any notice or other communication or writing required or
permitted to be given under this Agreement or for the purposes of this
Agreement shall be in writing and shall be sufficiently given if delivered
personally, or if transmitted by facsimile transmission (with original to
follow by mail) or other form of recorded communication, tested prior to
transmission, to:

 

(a)                                  if
to the Company:

 

	
  JumpTV Inc.

  
	
  463 King Street West

  
	
  Suite 300

  
	
  Toronto, Ontario M5V 1K4

  
	
   

  	
   

  	
   

  
	
  Telephone:

  	
   

  	
  416-368-6464

  
	
  Facsimile:

  	
   

  	
  416-368-6414

  
	
   

  	
   

  	
   

  
	
  Attention:

  	
   

  	
  Mark Amin

  
	
   

  	
   

  	
  Chairman -Compensation Committee, Board of Directors

  

 

(b)                                 if
to the Executive:

 

	
  Nada Usina

  
	
   

  
	
  Flagler Beach, Florida

  
	
   

  
	
  Telephone:

  	
   

  	
  469-441-7089

  
	
  Facsimile:

  	
   

  	
   

  

 

or to such
other address as the party to whom such notice is to be given shall have last
notified the party giving the same in the manner provided in this Section.  Any notice so delivered shall be deemed to
have been given and received on the day it is so delivered at such address,
provided that such day is not a business day then the notice shall be deemed to
have been given and received on the business day next following the day it is
so delivered.  Any notice so transmitted
by facsimile transmission or other form of recorded communication shall be
deemed to have been given and received on the day of its confirmed transmission
(as confirmed by the transmitting medium), provided that if such 

 

11

 

day is not a
business day then the notice shall be deemed to have been given and received on
the business day next following such day.

 

13.9         No amendment or waiver of any provision of this Agreement
shall be binding on any party unless consented to in writing by such party and
approved by the Board in the case of the Company.  No waiver of any provision of this Agreement
shall constitute a waiver of any other provision nor shall any waiver
constitute a continuing waiver unless otherwise provided.

 

IN WITNESS
WHEREOF this Agreement has been executed the 31st
day of August, 2007 by the parties hereto.

 

 

	
  SIGNED, SEALED AND DELIVERED

  	
  )

  	
   

  
	
  in the presence of

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  Illegible

  	
  )

  	
  /s/ Nada Usina

  
	
  Witness

  	
   

  	
  Nada Usina

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  JUMPTV INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ G Scott Paterson

  
	
   

  	
   

  	
  G Scott Paterson

  
	
   

  	
   

  	
  CEO

  
	
   

  	
   

  	
  JumpTV Inc.

  

 

12

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