Document:

WebFilings | EDGAR view

 

Exhibit 4.1
 
        
THIS SECURITY AND ANY SHARES OF COMMON STOCK ISSUED UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY, ANY SHARES OF COMMON STOCK ISSUED UPON CONVERSION OF THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER AGREES FOR THE BENEFIT OF TIVO INC. THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT ONLY: 
(A) TO TIVO INC. OR ANY SUBSIDIARY THEREOF; OR  
 
(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; OR  
 
(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR  
 
(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.  
 
PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. THIS SECURITY IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH 

 

 

SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTIONS 2.15 AND 2.16 OF THE INDENTURE.
 

 

 

 
TIVO INC.
Certificate No. 002
4.00% Convertible Senior Notes due 2016 (the “Securities”) 
CUSIP No. 888706 AD0 
TiVo Inc., a Delaware corporation (the “Company,” which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to Cede & Co., or its registered assigns, the principal amount of TWENTY-TWO MILLION FIVE HUNDRED THOUSAND dollars ($22,500,000), or such principal amount as shall be reflected in the books and records of the Trustee and the Depositary, on March 15, 2016, and to pay interest thereon, as provided on the reverse hereof, until the principal and any unpaid and accrued interest are paid or duly provided for. 
Interest Payment Dates: March 15 and September 15, with the first payment to be made on September 15, 2011. 
Regular Record Dates: March 1 and September 1. 
The provisions on the back of this certificate are incorporated as if set forth on the face hereof. 

 

 

IN WITNESS WHEREOF, TiVo Inc. has caused this instrument to be duly signed. 
TIVO INC.
 
 
By: /s/ Anna Brunelle                
      Name:   Anna Brunelle    
      Title:    Chief Financial Officer
 
Dated:  March 30, 2011
 
TRUSTEE'S CERTIFICATE OF AUTHENTICATION 
This is one of the Securities referred to 
in the within-mentioned Indenture. 
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee
		
	By:
	/s/ Maddy Hall

	 
	Authorize Signatory

	 
	 

	Dated:
	March 30, 2011

 
 

 

 

 
 
--------------------------------------------------------------------------------
[REVERSE OF SECURITY] 
TIVO INC.
4.00% Convertible Senior Notes due 2016 
1.Interest. TiVo Inc., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above. The Company will pay interest, payable semi-annually in arrears, on March 15 and September 15 of each year, with the first payment to be made on September 15, 2011. Interest on the Securities will accrue on the principal amount from, and including, the most recent date to which interest has been paid or provided for or, if no interest has been paid, from, and including, March 10, 2011, in each case to, but excluding, the next Interest Payment Date or the Maturity Date, as the case may be. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company shall pay, in cash, interest on any overdue amount (including, to the extent permitted by applicable law, overdue interest) at the rate borne by the Securities. In certain circumstances, Additional Interest will be payable in accordance with Section 4.09(a) and Section 6.02(b) of the Indenture and any reference to “interest” shall be deemed to include any such Additional Interest. 
2.Maturity. The Securities will mature on March 15, 2016. 
3.Method of Payment. Except as provided in the Indenture (as defined below), the Company will pay interest on the Securities to the Persons who are Holders of record of Securities at 5:00 p.m., New York City time, on the Regular Record Date set forth on the face of this Security immediately preceding the applicable Interest Payment Date. Holders must surrender Securities to a Paying Agent to collect the principal amount plus, if applicable, accrued and unpaid interest, if any, or the Fundamental Change Repurchase Price, payable as herein provided on the Maturity Date or Fundamental Change Repurchase Date, as applicable. 
4.Paying Agent, Registrar, Conversion Agent. Initially, Wells Fargo Bank, National Association (the “Trustee”) will act as Paying Agent, Registrar and Conversion Agent. The Company may change any Paying Agent, Registrar or Conversion Agent without prior notice.
5.Indenture. The Company issued the Securities under an Indenture dated as of March 10, 2011 (the “Indenture”) between the Company and the Trustee. The Securities are subject to all terms set forth in the Indenture, and Holders are referred to the Indenture for a statement of such terms. The Securities are unsecured senior obligations of the Company limited to $150,000,000 aggregate principal amount plus up to an additional $22,500,000 aggregate principal amount pursuant to the Initial Purchaser's option to purchase additional Securities, as provided in the Purchase Agreement, except as otherwise provided in the Indenture (and except for Securities issued in substitution for destroyed, lost or stolen Securities). Terms used herein without definition and which are defined in the Indenture have the meanings assigned to them in the Indenture. In the event of any inconsistency between the terms of this Security and the terms of the Indenture, the terms of the Indenture shall control. 
6.No Redemption. The Securities are not redeemable at the option of the Company prior to the Maturity Date, no sinking fund is provided for the Securities and the Securities will not be subject to defeasance. 
7.Repurchase at Option of Holder Upon a Fundamental Change. Subject to the terms and conditions of the Indenture, in the event of a Fundamental Change, each Holder of the Securities shall have the right, at the Holder's option, to require the Company to repurchase such Holder's Securities including any portion thereof which is $1,000 in principal amount or any integral multiple thereof on the Fundamental Change Repurchase Date at a price payable in cash equal to the Fundamental Change Repurchase Price. 
8.Conversion. The Securities shall be convertible into shares of Common Stock in accordance with Article 10 of the Indenture. To convert a Security, a Holder must satisfy the requirements of Section 10.02(a) of the Indenture. A Holder may convert a portion of a Security if the portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. 
Upon conversion of a Security, the Holder thereof shall be entitled to receive the shares of Common Stock payable upon conversion in accordance with Article 10 of the Indenture, at the Conversion Rate specified in the 

 

 

Indenture, as adjusted from time to time as provided in the Indenture. 
9.Denominations, Transfer, Exchange. The Securities are in registered form, without coupons, in denominations of $1,000 principal amount and integral multiples of $1,000 principal amount. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents. No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge that may be imposed in connection with certain transfers or exchanges as set forth in the Indenture. The Company or the Trustee, as the case may be, shall not be required to register the transfer of or exchange any Security for which a Repurchase Notice has been delivered, and not withdrawn, in accordance with the Indenture, except the unrepurchased portion of Securities being repurchased in part. 
10.Persons Deemed Owners. The registered Holder of a Security will be treated as its owner for all purposes. Only registered Holders of Securities shall have the rights under the Indenture. 
11.Amendments, Supplements and Waivers. The Indenture contains provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders of the Securities, and in certain other circumstances, with the consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities, to amend or supplement the Indenture or the Securities. 
12.Defaults and Remedies. Subject to certain exceptions, if an Event of Default occurs and is continuing, the Trustee by notice to the Company or the Holders of at least 25% in principal amount of the Securities then outstanding by notice to the Company and the Trustee may declare the principal of, and any accrued and unpaid interest on, all Securities to be due and payable immediately. If any of certain bankruptcy or insolvency-related Events of Default occurs and is continuing, the principal of, and accrued and unpaid interest on, all the Securities shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Securities then outstanding by written notice to the Trustee may rescind or annul an acceleration and its consequences if certain conditions specified in the Indenture are satisfied. 
13.Trustee Dealings with the Company. The Trustee under the Indenture, or any banking institution serving as successor Trustee thereunder, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for, the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not Trustee. 
14.Authentication. This Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent in accordance with the Indenture. 
15.Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (Uniform Gifts to Minors Act). 
THE COMPANY WILL FURNISH TO ANY HOLDER UPON WRITTEN REQUEST AND WITHOUT CHARGE A COPY OF THE INDENTURE. REQUESTS MAY BE MADE TO: 
TiVo Inc. 
2160 Gold Street, P.O. Box 2160
Alviso, CA 95002 
Attn: General Counsel 

 

 

 
ATTACHMENT 1
FORM OF ASSIGNMENT 
I or we assign to
PLEASE INSERT SOCIAL SECURITY OR|
OTHER IDENTIFYING NUMBER
    
		
	 
	 

	 
	 

                                            
(please print or type name and address)    		
	 
	 

	 
	 

                                                                                
the within Security and all rights thereunder, and hereby irrevocably constitute and appoint         		
	 
	 

                                        
Attorney to transfer the Security on the books of the Company with full power of substitution in the premises. 
				
	Dated:
	 
	 
	 

	 
	 
	 
	NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within Security in every particular without alteration or enlargement or any change whatsoever and be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Registrar

 
		
	Signature Guarantee:
	 

	 
	 

In connection with any transfer of this Security occurring prior to the Resale Restriction Termination Date, the undersigned confirms that it is making, and it has not utilized any general solicitation or general advertising in connection with, the transfer: 
 

 

 

[Check One] 
(1) ____    to TiVo Inc. or any Subsidiary thereof; or 
(2) ____    pursuant to a registration statement which has become effective under the Securities Act of 1933, as amended (the “Securities Act”); or 
(3) ____    to a Qualified Institutional Buyer in compliance with Rule 144A under the Securities Act; or 
(4) ____    pursuant to an exemption from registration provided by Rule 144 under the Securities Act (if available) or any other available exemption from the registration requirements of the Securities Act. 
Unless one of the items (1) through (4) is checked, the Registrar will refuse to register any of the Securities evidenced by this certificate in the name of any person other than the registered Holder thereof; provided, however, that if item (4) is checked, the Company, the transfer agent or the Registrar may require, prior to registering any such transfer of the Securities, in their sole discretion, such written legal opinions, certifications and other evidence as the Registrar or the Company have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. If item (3) is checked, the purchaser must complete the certification below. 
If none of the foregoing items are checked, the Trustee or Registrar shall not be obligated to register this Security in the name of any person other than the Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in the Indenture shall have been satisfied. 
					
	Dated:
	 
	 
	Signed:
	 

	 
	 
	 
	 
	(Sign exactly as name appears on the other side of this Security)

		
	Signature Guarantee:
	 

	 
	 

TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED 
The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A and acknowledges that the transferor is relying upon the undersigned's foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
					
	Dated:
	 
	 
	 
	 

	 
	 
	 
	NOTICE:
	To be executed by an executive officer

                                        
                

 

 

ATTACHMENT 2
FORM OF CONVERSION NOTICE 
To convert this Security in accordance with the Indenture, check the box:   o
To convert only part of this Security, state the principal amount to be converted (must be in multiples of $1,000):
$______________
If you want the stock certificate representing the Common Stock issuable upon conversion made out in another person's name, fill in the form below:
		
	 
	 

                                                
(Insert other person's soc. sec. or tax I.D. no.) 
    		
	 
	 

	 
	 

	 
	 

                                                                    
(Print or type other person's name, address and zip code) 
					
	Date:
	 
	 
	Signature(s):
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	(Sign exactly as name(s) appear(s) on the other side of this Security)

			
	Signature(s) guaranteed by:
	 
	 

	 
	 
	(All signatures must be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Trustee

 
 
 

 

 

 
 
    
 
 
ATTACHMENT 3 
FORM OF REPURCHASE NOTICE 
Certificate No. of Security: ________________________
If you want to elect to have this Security purchased by the Company pursuant to Section 3.02 of the Indenture, check the box:  
If you want to elect to have only part of this Security purchased by the Company pursuant to Section 3.02 of the Indenture, state the principal amount to be so purchased by the Company: 
$ _____________________
(in an integral multiple of $1,000)
					
	Date:
	 
	 
	Signature(s):
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	(Sign exactly as name(s) appear(s) on the other side of this Security)

			
	Signature(s) guaranteed by:
	 
	 

	 
	 
	(All signatures must be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the TrusteeExhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT

This Executive Employment Agreement ("Agreement") is made and effective this January 1st, 2011, by and between GoldLand Holdings, Co. ("Company") and Pierre Quilliam ("Executive").

NOW, THEREFORE, the parties hereto agree as follows:

1.  Employment.

Company hereby agrees to initially employ Executive as its Corporate Secretary and Executive hereby accepts such employment in accordance with the terms of this Agreement and the terms of employment applicable to regular employees of Company.  In the event of any conflict or ambiguity between terms of this Agreement and the terms of employment applicable to regular employees, the terms of this Agreement shall control.  Election or appointment of Executive to another office or position, regardless of whether such office or position is inferior to Executive's initial office or position, shall not be a breach of this Agreement.

2.  Duties of Executive.

The duties of Executive shall include the performance of all of the duties typical of the office held by Executive as described in the bylaws of the Company and such other duties and projects as may be assigned by a superior officer of the Company, if any, or the board of directors of the Company.  Executive shall devote his entire productive time, ability and attention to the business of the Company and shall perform all duties in a professional ethical and businesslike manner.  Executive will not, during the term of this Agreement directly or indirectly engage in any other business, either as employee, employer, consultant, principal, officer, director, advisor, or in any other capacity, either with or without compensation, without the prior written consent of Company.

3.  Compensation

Executive will be paid compensation during this Agreement as follows:

a:  A base salary of One Hundred and Twenty Five Thousand ($125,000.00) USD, payable in installments according to the Company's regular payroll schedule.  The total salary shall be adjusted at the end of each year of employment at the discretion of the board of directors.  Executive shall also receive a commission on any acquisition the Executive may close on behalf of the Company, such compensation to be approved by the board of directors. Any unpaid compensation will be compensated by the issuance of free trading stock at the end of each fiscal year.

b. An incentive salary equal to 10% of the adjusted net profits (hereinafter defined) of the Company beginning with the Company's yearend 2008 and each fiscal year thereafter during the term of this Agreement.  "Adjusted net profit" shall be the net profit of the Company before federal and state income taxes, determined in accordance with generally accepted accounting practices by the Company's independent accounting firm and adjusted to exclude: (i) any incentive salary payments paid pursuant to this Agreement; (ii) any contributions to pension and/or profit sharing plans; (iii) any extraordinary gains or losses (including, but not limited to, gains or losses on disposition of assets; (iv) any refund or deficiency of federal and state income taxes paid in a prior year; and (v) any provision for federal or state income taxes made in prior years which is subsequently determined to be unnecessary.  The determination of the adjusted net profits made by the independent accounting firm employed by the Company shall be final and binding upon Executive and Company.  The incentive salary payment shall be made within thirty (30) days after the Company's independent accounting firm has concluded

its audit.  If the final audit is not prepared within ninety (90) days after the end of the fiscal year, then the Company shall make a preliminary payment equal to fifty percent (50%) of the amount due based upon the adjusted net profits preliminarily determined by the independent accounting firm, subject to payment of the balance, if any, promptly following completion of the audit by Company's independent accounting firm. 

  

1

4. Benefits

a.  Holidays.  Executive will be entitled to at least 3 weeks paid holidays each calendar year and 12 personal days.  Company will notify Executive on or about the beginning of each calendar year with respect to the holiday schedule for the coming year.  Personal holidays, if any, will be scheduled in advance subject to requirements of Company.  Such holidays must be taken during the calendar year and cannot be carried forward into the next year.

b. Sick Leave. Executive shall be entitled to sick leave and emergency leave according to regular policies and procedures of Company.  Additional sick leave or emergency leave over and above paid leave provided by the Company, if any, shall be unpaid and shall be granted at the discretion of the board of directors.

c.  Medical and Group Life Insurance.  Company agrees to include Executive in the group medical and hospital plan of Company and provide group life insurance for Executive at no charge to Executive.

d. Pension and Profit Sharing Plans. Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.  Executive shall be entitled to receive stock incentives from Company, said incentives may be in the form of Stock Option, Warrants or other form of stock of the Company.  Such Stock incentives are to be approved by the Board of Directors.  Executive will also have the right to sell his stock from time to time, as per SEC regulations.

e. Automobile. n/a

f. Expense Reimbursement. Executive shall be entitled to reimbursement for all reasonable expenses, including travel and entertainment, incurred by Executive in the performance of Executive's duties. Executive will maintain records and written receipts as required by the Company policy and reasonably requested by the board of directors to substantiate such expenses.

5. Term and Termination.

a. The Initial Term of this Agreement shall commence on January 1st, 2011 and it shall continue in effect for a period of One (1) year. Thereafter, the Agreement shall be renewed upon the mutual agreement of Executive and Company.

b. This Agreement and Executive's employment may be terminated by Company at its discretion at any time after the Initial Term, provided that in such case, Executive shall be paid Seventy-five percent (75%) of Executive's then applicable base salary. In the event of such a discretionary termination, Executive shall not be entitled to receive any incentive salary payment or any other compensation then in effect, prorated or otherwise.

c. This Agreement may be terminated by Executive at Executive's discretion by providing at least thirty (30) days prior written notice to Company. In the event of termination by Executive pursuant to this subsection, Company may immediately relieve Executive of all duties and immediately terminate this Agreement, provided that Company shall pay Executive at the then applicable base salary rate to the termination date included in Executive's original termination notice.

2

 

d. In the event that Executive is in breach of any material obligation owed Company in this Agreement, habitually neglects the duties to be performed under this Agreement, engages in any conduct which is dishonest, damages the reputation or standing of the Company, or is convicted of any criminal act, then Company may terminate this Agreement upon five (5) days notice to Executive. In event of termination of the agreement pursuant to this subsection, Executive shall be paid only at the then applicable base salary rate up to and including the date of termination. Executive shall not be paid any incentive salary payments or other compensation, prorated or otherwise.

e. In the event Company is acquired, or is the non-surviving party in a merger, or sells all or substantially any of its assets, this Agreement shall not be terminated and Company agrees to ensure that the transferee or surviving company is bound by the provisions of this Agreement.

6. Notices.

Any notice required by this Agreement or given in connection with it, shall be in writing and shall be given to the appropriate party by personal delivery or by certified mail, postage prepaid, or recognized overnight delivery services;

If to Company:

GoldLand Holdings, Co.

2520 Manatee Ave. W, #200 

Bradenton, FL 34209

 

If to Executive:

Pierre Quilliam

2373 Landings Circle

Bradenton, FL 34209.

 

7. Final Agreement.

This Agreement terminates and supersedes any prior understandings or agreements on the subject matter hereof This Agreement may be modified only by a further writing that is duly executed by both parties.

3

8. Governing Law.

This Agreement shall be construed and enforced in accordance with the laws of the state of Florida.

9. Headings.

Headings used in this Agreement are provided for convenience only and shall not be used to construe meaning or intent.

10.  No Assignment.

Neither this Agreement nor any or interest in this Agreement may be assigned by Executive without the prior express written approval of Company, which may be withheld by Company at Company's absolute discretion.

11.  Severability.

If any term of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then this Agreement, including all of the remaining terms, will remain in full force and effect as if such invalid or unenforceable term had never been included.

12. Competition.

It is agreed by company that the Executive has other business ventures and is not obligated to provide 100% of Executive's time to his responsibilities at Company.  During the term of this Agreement and any renewals thereof, and for a period of one (1) year from the date of cessation of his employment with the Company, the Executive will not, directly or indirectly, in the United States or Canada, whether as a partner, joint venturer, officer, stockholder, advisor, employee, consultant, agent, or otherwise, in any way promote, participate, become employed by or engage in any conduct or business which is similar to the Company's business or competitive with the Company's business.  

13. Non-Interference and Non-Solicitation.  During the one-year period following the Executive's cessation of employment, the Executive will not:

(a)

attempt in any manner to solicit from any client or customer of the Company business of the type performed by the Company or persuade any client or customer of the Company to cease to do such business or to reduce the amount of such business which any such client or customer has customarily done or contemplates doing with the Company, whether or not the relationship between the Company and such client or customer was originally established in whole or in part through the Employee's efforts; 

(b)

render any services of the type rendered by the Company (during the term of the Executive's employment) for any client or customer of the Company; 

(c)

solicit to employ any person who is employed by the Company (excluding any person who is a member of the Executive's family); or

(d)

do or cause to be done, directly or indirectly, any acts which may impair the relationship between the Company with their respective suppliers, clients, customers or employees.

4

14. Office Location.

The company agrees that the head office of the Company shall be located in Bradenton, Florida, USA unless mutually agreed to be moved by the Board of Directors and the Executive.

15.  Monetary Amounts

All monetary amounts referred to herein shall be in United States Dollars.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

GoldLand Holdings, Co.

       EMPLOYEE

_____________________

_____________________

Pierre Quilliam Director

Pierre Quilliam

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]