Document:

Unassociated Document

    Exhibit
10.2

     

    EMPLOYMENT
AGREEMENT

     

    This
Employment Agreement (the “Agreement”), is dated
as of August 13, 2010, and effective as of the date hereinafter provided, by and
between WidePoint
Corporation, a corporation organized under the laws of the State of
Delaware (the “Company”), and James T. McCubbin, (“Executive”).

     

    WITNESETH:

     

    WHEREAS, the Company and
Executive desire to provide for the employment of the Executive as the Chief
Financial Officer of the Company, to engage in such activities and to render
such services under the terms and conditions hereof;

     

    WHEREAS, the Company has
authorized and approved the execution of this Agreement, and Executive desires
to be employed by the Company under the terms and conditions hereinafter
provided; and

     

    WHEREAS, this Agreement
constitutes the entire understanding and agreement between the Company and
Executive regarding its subject matter and supersedes all prior or
contemporaneous negotiations and agreements, whether oral or written, between
them with respect to such subject matter.

     

    NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto intending to be legally bound do hereby
agree as follows:

     

    1. Effective Date, Appointment,
Title and Duties. The effective date of this Agreement is July 1,
2010 (“Effective
Date”).  As of the Effective Date, the Company employs
Executive to serve as its Chief Financial Officer.  In such capacity,
Executive shall report to the Chief Executive Officer of the Company, and shall
have such duties, powers and responsibilities as are customarily assigned to a
Chief Financial Officer of a publicly held corporation, but shall also be
responsible to the Chairman of the Audit Committee of the Board of Directors on
any matters related to the integrity of the financial operating environment of
the Company.  In addition, Executive shall have such other duties and
responsibilities as the Board of Directors may reasonably assign him, with his
consent, including serving with the consent or at the request of the Board of
Directors as an officer or on the board of directors of affiliated corporations,
provided that such
duties are commensurate with and customary for a senior executive officer
bearing Executive’s experience, qualifications, title and position.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Term of
Agreement. The term of the Executive’s employment under this
Agreement shall commence on the Effective Date and shall terminate after a
period of twenty four (24) months, on June 30, 2012, except that by mutual
consent of the Executive and the Company, the Agreement may be optionally
extended for an additional twelve (12) month period, through and including June
30, 2013.

     

    3. Acceptance of
Position. Executive accepts the position of Chief Financial Officer,
and agrees that during the term of this Agreement he will faithfully perform his
duties and, except as expressly approved by the Board of Directors, will devote
substantially all of his business time to the business and affairs of the
Company.  It is acknowledged and agreed that Executive may serve as an
officer and/or director of companies in which the Company owns voting or
non-voting stock.  In addition, it is acknowledged that Executive may,
from time to time, serve as a member of the Board of Directors of other
for-profit companies, but not without prior approval by the Board of Directors
of the Company.  In the event the Executive, prior to the execution of
this Agreement, is holding a position as a member of a Board of Directors of a
public company, prior approval by the Board of Directors of the Company will not
be required.  The Executive may, from time to time, serve as a member
of the Board of Directors of other non-profit associations, community
associations, and not for profit groups without the approval of the Board of
Directors of the Company.  Any compensation or remuneration which
Executive receives in consideration of his service on the board of directors of
other companies shall be the sole and exclusive property of Executive, and the
Company shall have no right or entitlement at any time to any such compensation
or remuneration.

     

    4. Salary and
Benefits. During the term of this Agreement:

     

    (a) The
Company shall pay to Executive a base salary at an annual rate of not less than
(i) Two Hundred Five Thousand Dollars ($205,000) per annum for the initial
twelve (12) month period of this Agreement; (ii) Two Hundred Thirty Thousand
Dollars ($230,000) per annum for the second twelve (12) month period of this
Agreement; and (iii) Two Hundred Fifty Five Thousand Dollars ($255,000) per
annum for the optional third twelve (12) month period of this Agreement in the
event the parties jointly exercise that contractual option.  The
foregoing amounts are hereafter collectively referred to as the “Base Salary”
and shall be paid in approximately equal monthly installments at intervals based
on any reasonable Company policy which is consistently applied to all other
executives of the Company.  Any increase in the Base Salary above the
aforementioned amounts, once granted by the Company to the Executive, shall
automatically amend this Agreement to provide that thereafter Executive’s Base
Salary shall not be less than the annual amount to which such Base Salary has
been increased.

     

    
      
        
        

      

      
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    (b) During
the term hereof, Executive shall be eligible to participate in all health,
retirement, Company-paid insurance, sick leave, vacation, disability, expense
reimbursement and other benefit programs which the Company or its subsidiaries
makes available to any of its senior executives.

     

    (c) Executive
may be awarded an annual bonus (in cash or stock of the Company) in the sole
discretion of the Board of Directors.  Executive also shall be
eligible to participate in any Company incentive stock, option or bonus plan
offered by the Company to its senior executives, subject to the terms thereof
and at the sole discretion of the Board of Directors.

     

    (d) The
Company will provide Executive with (i) a home office/automobile expense
allowance of $500.00 per month to cover such expenses incurred in the pursuit of
Company business and; (ii) a phone allowance of $100.00 per month to cover such
expenses incurred in the pursuit of Company business.

     

    5. Certain Terms
Defined. For purposes of this Agreement:

     

    (a) Executive
shall be deemed to be “disabled” if a physical or mental condition shall occur
and persist which, in the written opinion of a licensed physician selected by
the Board of Directors in good faith, has rendered Executive unable to perform
the duties set forth in Section 1 hereof for a period of sixty (60) days or more
and, in the written opinion of such physician, the condition will continue for
an indefinite period of time, rendering Executive unable to return to his
duties.

     

    
      
        
        

      

      
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    (b) A
termination of Executive’s employment by the Company shall be deemed for “Cause”
if, and only if, it is based upon (i) conviction of a felony by a federal
or state court of competent jurisdiction; (ii) material disloyalty to the
Company such as embezzlement or misappropriation of corporate assets; or (iii)
engaging in unethical or illegal behavior which is of a public nature, brings
the Company into disrepute, and results in material damage to the
Company.  The Company shall have the right to suspend Executive with
pay, for a reasonable period to investigate allegations of conduct which, if
proven, would establish a right to terminate this Agreement for Cause, or to
permit a felony charge to be tried.  Immediately upon the conclusion
of such temporary period, unless Cause to terminate this Agreement has been
established, Executive shall be restored to all duties and responsibilities as
if such suspension had never occurred.

     

    (c) A
resignation by Executive shall not be deemed to be voluntary and shall be deemed
to be a resignation with “Good Reason” if it is based upon (i) a diminution
in Executive’s title, duties, or salary; (ii) a material reduction in
benefits; (iii) a direction by the Board of Directors that Executive report
to any person or group other than the Chief Executive Officer, or (iv) a
geographic relocation of the Company’s primary business operations outside of
the Washington Metropolitan Area (with the Washington Metropolitan Area being
deemed to not include the Winchester, VA-WV Metropolitan Statistical Area and/or
the Culpepper, VA Micropolitan area).

     

    (d) “Affiliate”
means with respect to any Person, a Person who, directly or indirectly, through
one or more intermediaries, controls, is controlled by or is under common
control, with the Person specified.

     

    
      
        
        

      

      
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    (e) “Base
Salary” means, as of any date of termination of employment, the highest base
salary of Executive in the then current fiscal year or in any of the last four
fiscal years immediately preceding such date of termination of
employment.

     

    (f) “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the
Exchange Act.

     

    (g) A
“Change in Control” occurs if:

     

    (i) Any
Person or related group of Persons (other than Executive and his Related
Persons, the Company or a Person that directly or indirectly controls, is
controlled by, or is under common control with, the Company) is or becomes the
Beneficial Owner, directly or indirectly, of securities of the Company
representing 50% or more of the combined voting power of the Company’s then
outstanding securities;

     

    (ii) The
stockholders of the Company approve a merger or consolidation of the Company
with any other corporation (or other entity), other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) more than 50% of the combined voting power of the voting
securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation; provided, however, that a
merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no Person acquires 33 1/3% or more of the
combined voting power of the Company’s then outstanding securities shall not
constitute a Change in Control;

     

    (iii) The
stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company’s assets; or

     

    (iv) A
majority of the members of the Board of Directors of the Company cease to be
Continuing Directors;

     

    (h) “Code”
means the Internal Revenue Code of 1986, as amended.

     

    
      
        
        

      

      
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    (i) “Continuing
Directors” means, as of any date of determination, any member of the Board of
Directors who (i) was a member of such Board of Directors on the date of
this Agreement or (ii) was nominated for election or elected to such Board
of Directors with the approval of a majority of the Continuing Directors who
were members of such Board of Directors at the time of such nomination or
election.

     

    (j) “Exchange
Act” means the Exchange Act of 1934, as amended.

     

    (k)
“Person” means any individual, control group as defined in the Exchange Act,
corporation, partnership, limited liability company, trust, association or other
entity.

     

    (l) “Related
Person” means any immediate family member (spouse, partner, parent, sibling or
child, whether by birth or adoption) of the Executive and any trust, estate or
foundation, the beneficiary of which is the Executive and/or an immediate family
member of the Executive.

     

    6. Certain Benefits Upon
Termination. Executive’s employment shall be terminated upon the
earlier of (i) the voluntary resignation of Executive with or without Good
Reason; (ii) Executive’s death or permanent disability; or (iii) upon
the termination of Executive’s employment by the Company for any reason at any
time.  In the event of such termination, the provisions of Section
6(a) shall apply, and in the event of a Change of Control, the provisions of
Section 6(b) shall apply.

     

    (a) If
Executive’s employment by the Company terminates for any reason other than as a
result of a termination for Cause, or a voluntary resignation by Executive
without a Good Reason, then the Company shall pay Executive a lump sum severance
payment in cash equal to the greater of (A) the amount equal to twelve (12)
months of the Executive’s Base Salary at the time of such termination, or (B)
the amount equal to the Executive’s Base Salary for the remainder of the term as
if this Agreement had not been terminated; provided that if employment
terminates by reason of Executive’s death or disability, then Executive (or
Executive’s estate, if applicable) shall receive a one time payment equal to the
amount of Base Salary owed for the remainder of the term as if this Agreement
had not been terminated.

     

    
      
        
        

      

      
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    (b) If
the Executive’s employment is terminated by the Company for any reason within
twenty four (24) months of a Change in Control of the Company other than as a
result of a termination for Cause, or a voluntary resignation by Executive
without a Good Reason, then the Company shall pay Executive a one time severance
payment in cash equal to the greater of (A) the amount equal to eighteen (18)
months Base Salary, or (B) the amount equal to the Executive’s Base Salary for
the remainder of the term as if this Agreement had not been terminated; provided that if employment
terminates by reason of Executive’s death or disability, then Executive (or
Executive’s estate, if applicable) shall receive a one time payment equal to the
amount of Base Salary owed for the remainder of the term as if this Agreement
had not been terminated.  If the Executive is paid under this Section
6(b), then the Executive shall not receive payments under Section
6(a).

     

    (c) If
Executive’s employment by the Company terminates for any reason, except for the
Company’s termination of Executive’s employment for Cause or a voluntary
resignation by Executive without a Good Reason, the Company shall offer to
Executive the opportunity to participate at Company expense in all medical and
dental plans provided by the Company to its executive officers to the extent
Executive elects for the remainder of the term of this Agreement.  To
the extent that the Company cannot provide, for a legal reason or any other
matter, Executive with the opportunity to participate in such medical and dental
plans (at Company expense) for the remainder of the term of this Agreement, then
in such event the Company shall pay to Executive in cash an amount equal to the
fair market value of the benefits to be provided pursuant to this Section
6(c).

     

    (d) The
Company shall make all payments pursuant to the foregoing subsections (a)
through (c) concurrently with the date of termination of Executive’s employment
or consummation of a Change in Control of the Company, as
applicable.  Any such termination payments payable hereunder shall be
considered as part-consideration for the non-compete covenant provided by
Executive in Section 7 below.

     

    (e) The
Company shall have no liability under this Section 6 if Executive’s employment
pursuant to this Agreement is terminated by the Company for Cause or by
Executive without a Good Reason.

     

    
      
        
        

      

      
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    (f) Gross-Up.

     

    (i) If
it shall be determined that any payment, distribution or benefit received or to
be received by Executive from the Company (whether payable pursuant to the terms
of this Agreement or any other plan, arrangements or agreement with the Company
or an Affiliate (“Payments”)) would be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then Executive shall be entitled to
receive an additional payment (the “Excise Tax Gross-Up Payment”) in an amount
such that the net amount retained by Executive, after the calculation and
deduction of any Excise Tax on the Payments and any federal, state and local
income taxes and Excise Tax on the Excise Tax Gross-Up Payment provided for in
this Section 6(f), shall be equal to the Payments.  In determining
this amount, the amount of the Excise Tax Gross-Up Payment attributable to
federal income taxes shall be reduced by the maximum reduction in federal income
taxes that could be obtained by the deduction of the portion of the Excise Tax
Gross-Up Payment attributable to state and local income
taxes.  Finally, the Excise Tax Gross-Up Payment shall be reduced by
income or Excise Tax withholding payment made by the Company or any Affiliate to
any federal, state or local taxing authority with respect to the Excise Tax
Gross-Up Payment that was not deducted from compensation payable to
Executive.

     

    (ii) All
determinations required to be made under this Section 6(f), including whether
and when an Excise Tax Gross-Up Payment is required and the amount of such
Excise Tax Gross-Up Payment and the assumptions to be utilized in arriving at
such determination, except as specified in Section 6(f)(i) above, shall be made
by the Company’s independent auditors (the “Accounting Firm”), which shall
provide detailed supporting calculations both to the Company and
Executive.  Such determination of tax liability made by the Accounting
Firm shall be subject to review by Executive’s tax advisor and, if Executive’s
tax advisor does not agree with such determination reached by the Accounting
Firm, then the Accounting Firm and Executive’s tax advisor shall jointly
designate a nationally recognized public accounting firm, which shall make such
determination.  All reasonable fees and expenses of the accountants
and tax advisors retained by either Executive or the Company shall be borne by
the Company.  Any Excise Tax Gross-Up Payment, as determined pursuant
to this Section 6(f), shall be paid by the Company to Executive within five days
after the receipt of such final determination in writing.  Any
determination by a jointly designated public accounting firm shall be binding
upon the Company and Executive.

     

    
      
        
        

      

      
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    (iii) As
a result of the uncertainty in the application of Section 4999 of the Code at
the time of the initial determination thereunder, it is possible that Excise Tax
Gross-Up Payments will not have been made by the Company in an amount that
should have been made consistent with the calculations required to be made
hereunder (“Underpayment”).  In the event that Executive thereafter is
required to make a payment of any Excise Tax, any such Underpayment calculated
in accordance with and in the same manner as the Excise Tax Gross-Up Payment in
Section 6(f)(i) above shall be promptly paid by the Company to or for the
benefit of Executive.  In the event that the Excise Tax Gross-Up
Payment exceeds the amount subsequently determined to be due, such excess shall
be repaid by the Executive to the Company (together with interest at the rate
provided in Section 1274(b)(2)(B) of the Code) within one hundred eighty (180)
days from the date that Executive receives written notice of the final
determination of such excess payment.

     

    7. Non-competition. Executive
agrees that at all times while he is employed by the Company and for a period of
twelve (12) months thereafter if Executive’s employment is terminated by
Executive with Good Reason or by the Company without Cause (or if Executive’s
employment is terminated under the provisions of Section 6(b) of this Agreement
or by the Executive without Good Reason or by the Company for Cause, then
Executive’s non-competition period shall be eighteen (18) months from the date
of termination), he will not, as a principal, agent, employee, employer,
consultant, stockholder, investor, director or co-partner of any person, firm,
corporation or business entity other than the Company, or in any individual or
representative capacity whatsoever, directly or indirectly, without the express
prior written consent of the Company :

     

    (i) engage or participate in any
business whose products or services are directly competitive
with that of the Company and which conducts or solicits business, or transacts
with suppliers or customers located within the United States or Puerto
Rico;

     

    (ii) aid or counsel any other
person, firm, corporation or business entity to do any of the
above;

    
       

      
        
          
          

        

        
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    (iii) become employed by a firm,
corporation, partnership or joint venture which competes with the business of
the Company within the United States or Puerto Rico; or

     

    (iv) approach, solicit business
from, or otherwise do business or deal with any customer of the Company in
connection with any product or service competitive to any provided by the
Company.

     

    For
purposes of the definition of stockholder or investor used in this Section
7, the Executive may hold a non-control position as stockholder or investor in
the securities of publicly traded companies without the prior written consent of
the Company.

     

    8. Indemnification. The
Company shall indemnify Executive and hold him harmless from and against all
claims, losses, damages, expense or liabilities (including expenses of defense
and settlement) based upon or in any way arising from or connected with his
employment by the Company, to the maximum extent permitted by law.  To
the fullest extent permitted by law, the Company shall advance to Executive all
expenses necessary in connection with the defense of any action or claim which
is brought if indemnification cannot be determined to be available prior to the
conclusion of such action or the investigation of such claim.  The
Company shall investigate in good faith the availability and cost of directors’
and officers’ insurance and shall include Executive as an insured in any
directors’ and officers’ insurance policy it maintains.  The
provisions of this Section 8 shall survive any termination or expiration of this
Agreement.

     

    9. Attorney Fees and
Costs. In the event that any action or proceeding is brought to
enforce the terms and provisions of this Agreement, the prevailing party shall
be entitled to recover reasonable attorney fees and costs.

     

    
      
        
        

      

      
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    10. Notices. All
notices and other communications provided to either party hereto under this
Agreement shall be in writing and delivered by certified or registered mail,
postage prepaid, or by national overnight delivery service (such as Federal
Express), to such party at its/his address set forth below its/his signature
hereto, or at such other address as may be designated by either party in
conformity with the provisions of this Section 10, with any such notices being
deemed given when actually received by the recipient.

     

    11. Construction. In
construing this Agreement, if any portion of this Agreement shall be found to be
invalid or unenforceable, the remaining terms and provisions of this Agreement
shall be given effect to the maximum extent permitted without considering the
void, invalid or unenforceable provisions.  In construing this
Agreement, the singular shall include the plural, the masculine shall include
the feminine and neuter genders as appropriate.  Without limitation to
the foregoing, nothing in this Agreement is intended to violate the
Sarbanes-Oxley Act of 2002, and to the extent that any provision of this
Agreement would constitute such a violation, such provision shall be modified to
the extent required by such Act, or, to the extent that such provision cannot be
so modified and is found to be invalid or unenforceable, the remaining terms and
provisions shall be given effect to the maximum extent permitted without
considering the void, invalid or unenforceable provision.

     

    12. Headings. The
section headings hereof have been inserted for convenience of reference only and
shall not be construed to affect the meaning, construction or effect of this
Agreement.

     

    13. Governing
Law. This Agreement, and any statements, conduct, claims, causes of
action, liabilities or other matters relating to or arising out of or in
connection with this Agreement, shall be governed by, and construed in
accordance with, the laws of the State of Delaware, without regard to choice of
law or conflict of law principles. The federal or state courts sitting in the
State of Maryland, County of Anne Arundel, shall have exclusive jurisdiction to
adjudicate any disputes arising out of or in connection with this Agreement and
the parties hereby waive any objection based with respect
thereto.  Any rights to trial by jury
with respect to any claim, action or proceeding, directly or indirectly, arising
out of, or relating to, this Agreement are waived by the
parties.

     

    
      
        
        

      

      
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    14. Entire
Agreement. This Agreement constitutes the entire agreement and
supersedes all other prior agreements and undertakings, both written and oral,
among Executive and the Company, with respect to the subject matter
hereof.

     

    
      
        
        

      

      
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    IN WITNESS WHEREOF, this
Agreement shall be effective as of the date specified in the first paragraph of
this Agreement.

     

    
      
        	 	 	

                WIDEPOINT
      CORPORATION:

              	 
	 	 	 	 
	
                

                  Signed
      August 13, 2010

                

              	
                 

              	

                /s/
      Steve L. Komar

              	 
	 	 	

                Name:
      Steve L. Komar

              	 
	 	 	

                Title:  Chief
      Executive Officer

              	 

      

    

     

     

    
      
        	 	 	

                EXECUTIVE:

              	 
	 	 	 	 
	
                

                  Signed
      August 13, 2010

                

              	
                 

              	

                /s/
      James T. McCubbin

              	 
	 	 	

                Name:
      James T. McCubbin

              	 
	 	 	

                Title:  Chief
      Financial Officer

              	 

      

    
      
        
        

      

      
        -13-Exhibit
10.1

    

     

    FAR EAST WIND POWER
CORP.

    

    CONSULTING
AGREEMENT

    

    This Consulting Agreement (the “Agreement”), is made and entered into as of August 11, 2010 (the “Effective Date”), by and between Far East Wind Power Corp., a Nevada corporation located at 11811 N. Tatum Blvd.,
Suite 3031, Phoenix, Arizona 85028 (the “Company”), and Fred Loh (the “Consultant”).  The Company desires to retain Consultant
as an independent contractor to perform such services, on terms set forth more
fully below.  In consideration of the mutual promises contained
herein, the parties agree as follows:

    

    1.           SERVICES AND
COMPENSATION

    

    (a)           Services.  Consultant shall serve as the Company’s Senior Vice
President of Finance and shall perform such customary duties and
responsibilities implied by the position of Senior Vice President of Finance of
a Chinese-based business listed as a public company in the United State of
America including, without limitation, such duties and responsibilities to be
established by the Chief Financial Officer and President of the Company (the
“Services”).  In such capacities Consultant shall
report directly to the Chief Financial Officer of the Company, or, in the
absence of a Chief Financial Officer, the Chief Executive Officer of the
Company.  Consultant’s position,
duties, and responsibilities can be modified as reasonably required
to suit the specific requirements and needs of the Company.  Consultant shall perform the
Services for the Company in a professional and diligent fashion.

    

    (b)           Compensation.  The Company shall pay to Consultant a fee of $10,000 per month (the “Monthly Fee”) commencing as
of April 1, 2010 as follows: (i) commencing August 1, 2010, a portion of the
Monthly Fee equal to $5,000 per month shall be paid by the Company to Consultant
in immediately available funds on the 5th day of each month, and (ii) the remaining Monthly Fees
owed or owing shall accrue each month and
shall be paid to Consultant at such time as the Company completes a capital
raise in any form subsequent to the
Effective Date whereby the Company receives
gross proceeds in excess of $250,000 (the “Financing”).  No interest will apply to any portion of
the accrued Monthly Fees.  For any month following the completion of
the Financing the Company shall pay Consultant the Monthly Fee on the first day
of each month.

    

    (c)           Stock Awards.

    

    (i)           Stock Award. Subject
to approval by the Board of Directors of the Company (the “Board”), the Company
will grant to Consultant 350,000 shares of the Company’s common stock (the
“Stock Award”),
of which 50,000 shares shall be fully-vested upon the grant and the remaining
300,000 shares shall be subject to vesting at the rate of one thirty-sixth
(1/36) of such shares per month commencing on August 1, 2010, subject to
Consultant continuing to be a service provider to the Company pursuant to this
Agreement on such dates. The vesting schedule of the Stock Award shall be
subject to acceleration as described in Section 8(b) of this
Agreement.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    (d)          Bonuses. Consultant
will be eligible to receive on an annual basis, a bonus in the form of a grant
of Company’s capital stock or cash, or a combination thereof, as determined by
the Board based on Consultant’s performance and subject to such terms and
conditions as approved by the Board.

    

    (e)          Expenses. The Company will pay or reimburse Consultant for all
necessary out-of-pocket transportation, hotel, and other expenses reasonably
incurred by Consultant in the conduct of the business of the Company upon
submission of such itemized vouchers, receipts or other documentation with
respect to any such expenses as shall be reasonably requested by the Company,
and, in any event, in accordance with the guidelines of the Company, if any,
published from time to time. In the event Consultant incurs or plans to incur
expenses in excess of $2,000 individually or in the aggregate in any calendar
month, Consultant shall obtain the prior written approval from the
Company.

    

    2.           PROPRIETARY INFORMATION;
CONFIDENTIALITY

    

    (a)           “Confidential
Information” means any Company proprietary information, technical data,
trade secrets or know-how, including, but not limited to, research and
development, product plans, products, services, customers, customer lists,
suppliers, manufacturers, government contacts, markets, software, developments,
inventions, processes, formulas, technology, designs, drawings, engineering,
hardware configuration information, marketing, finances, in addition to
financial, accounting, statistical, marketing and personnel information of the
Company and/or its customers or other third-parties or other business
information disclosed by the Company either directly or indirectly in writing,
orally or by drawings or inspection of parts or equipment.

    

    (b)          Consultant
while performing the Services, will be exposed to and handling the Company’s
Confidential Information.  Consultant will not, during or subsequent
to the term of this Agreement, use the Company’s Confidential Information for
any purpose whatsoever other than the performance of the Services on behalf of
the Company or disclose the Company’s Confidential Information to any third
party.  Consultant agrees that the restrictions in this Section 2
shall also apply to Confidential Information conceived, originated, discovered
or developed by Consultant during the term of this Agreement.  It is
understood that said Confidential Information shall remain the sole property of
the Company. Consultant further agrees to take all reasonable precautions to
prevent any unauthorized disclosure of such Confidential Information including,
but not limited to, having each employee of Consultant, if any, with access to
any Confidential Information, execute a nondisclosure agreement containing
provisions in the Company’s favor identical to Sections 2 and 3 of this
Agreement. Confidential Information does not include information which (i) is
known to Consultant at the time of disclosure to Consultant by the Company as
evidenced by written records of Consultant, (ii) has become publicly known and
made generally available through no wrongful act of Consultant, or (iii) has
been rightfully received by Consultant from a third party who is authorized to
make such disclosure. Without the Company’s prior written approval, Consultant
will not directly or indirectly disclose to anyone the contents of this
Agreement.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    (c)           Consultant
agrees that Consultant will not, during the term of this Agreement, improperly
use or disclose any proprietary information or trade secrets of any former or
current employer or other person or entity with which Consultant has an
agreement or duty to keep in confidence information acquired by Consultant, if
any, and that Consultant will not bring onto the premises of the Company any
unpublished document or proprietary information belonging to such employer,
person or entity unless consented to in writing by such employer, person or
entity. Consultant will indemnify the Company and hold it harmless from and
against all claims, liabilities, damages and expenses, including reasonable
attorneys fees and costs of suit, arising out of or in connection with any
violation or claimed violation of a third party’s rights resulting in whole or
in part from the Company’s use of the work product of Consultant under this
Agreement.

    

    (d)          Consultant
recognizes that the Company has received and in the future will receive from
third parties their confidential or proprietary information subject to a duty on
the Company’s part to maintain the confidentiality of such information and to
use it only for certain limited purposes. Consultant agrees that Consultant owes
the Company and such third parties, during the term of this Agreement and
thereafter, a duty to hold all such confidential or proprietary information in
the strictest confidence and not to disclose it to any person, firm or
corporation or to use it except as necessary in carrying out the Services for
the Company consistent with the Company’s agreement with such third
party.

    

    (e)           Return of
Property.  Upon the termination of this Agreement, or upon
Company’s earlier request, Consultant will deliver to the Company all devices,
records, data, disks, computer files, notes, reports, proposals, lists,
correspondence, materials, equipment, other documents or property, reproductions
of any aforementioned items developed by Consultant pursuant in the performance
of the Services to the Company, or Confidential Information that Consultant may
have in Consultant’s possession or control.

    

    (f)           Consultant
Information.  Consultant represents and warrants to the Company
that information provided by Consultant in connection with this Agreement and
any supplemental information provided to the Company is complete, true and
materially correct in all respects.   Consultant has not omitted
any information that is or may reasonably be considered necessary or useful to
evaluate the information provided by Consultant to the
Company.  Consultant shall immediately notify the Company in writing
of any change in the accuracy or completeness of all such
information.

    

    (g)           Other
Agreements.  Consultant represents that the performance of all
the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by Consultant in confidence or in trust prior
to the execution of this Agreement. Consultant has not and shall not: (i)
disclose or use in the course of the Services to the Company, any proprietary or
trade-secret information belonging to another; or (ii) enter into any oral or
written agreement in conflict with this Agreement.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    3.           OWNERSHIP

    

    (a)           Consultant
agrees that all copyrightable material, notes, records, drawings, designs,
inventions, improvements, developments, discoveries and trade secrets conceived,
made or discovered by Consultant, solely or in collaboration with others, during
the period of this Agreement which relate in any manner to the business of the
Company that Consultant may be directed to undertake, investigate or experiment
with, or which Consultant may become associated with in work, investigation or
experimentation in the line of business of Company in performing the Services
hereunder (collectively, “Inventions”), are the
sole property of the Company. In addition, any Inventions which are related in
any manner to the business of the Company constitute copyrightable subject
matter shall be considered "works made for hire" as that term is defined in the
United States Copyright Act. Consultant further agrees to assign (or cause to be
assigned) and does hereby assign fully to the Company all Inventions and any
copyrights, patents, mask work rights or other intellectual property rights
relating to the business of the Company. Attached as Exhibit A hereto is a
list describing all inventions, original works of authorship, developments,
improvements and trade secrets which were made by Consultant prior to the date
of this Agreement, which belong to Consultant, and which are not assigned to the
Company (“Prior
Inventions”). Consultant represents and warrants that no patent
applications relating to Inventions or Prior Inventions are pending under his
name and no Inventions or designs provided to the Company have been used by
prior customers of Consultant or patented by such customers.

    

    (b)           Consultant
agrees to assist Company, or its designee, at the Company’s expense, in every
proper way to secure the Company’s rights in the Inventions and any copyrights,
patents, mask work rights or other intellectual property rights relating thereto
in any and all countries, including the disclosure to the Company of all
pertinent information and data with respect thereto, the execution of all
applications, specifications, oaths, assignments and all other instruments which
the Company shall deem necessary in order to apply for and obtain such rights
and in order to assign and convey to the Company, its successors, assigns and
nominees the sole and exclusive right, title and interest in and to such
Inventions, and any copyrights, patents, mask work rights or other intellectual
property rights relating thereto. Consultant further agrees that Consultant’s
obligation to execute or cause to be executed, when it is in Consultant’s power
to do so, any such instrument or papers shall continue after the termination of
this Agreement.

    

    (c)           Consultant
agrees that if in the course of performing the Services, Consultant incorporates
into any Invention relating to the business of the Company developed hereunder
any invention, improvement, development, concept, discovery or other proprietary
information owned by Consultant or in which Consultant has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free,
perpetual, irrevocable, worldwide license to make, have made, modify, use and
sell such item as part of or in connection with such Invention.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (d)           Consultant
agrees that if the Company is unable because of Consultant’s unavailability,
dissolution, mental or physical incapacity, or for any other reason, to secure
Consultant’s signature to apply for or to pursue any application for any United
States or foreign patents or mask work or copyright registrations covering the
Inventions assigned to the Company above, then Consultant hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents
as Consultant’s agent and attorney in fact, to act for and in Consultant’s
behalf and stead to execute and file any such applications and to do all other
lawfully permitted acts to further the prosecution and issuance of patents,
copyright and mask work registrations thereon with the same legal force and
effect as if executed by Consultant.

    

    4.           UNFAIR COMPETITION;
NON-SOLICITATION

    

    (a)           Unfair
Competition.  During the term of this Agreement, Consultant has
a duty of loyalty and a fiduciary responsibility to the Company. Consultant
shall not, directly or indirectly, whether as a partner, employee, creditor,
stockholder, or otherwise, promote, participate, or engage in any activity or
other business which is directly competitive to the current operations of the
Company or the currently contemplated future operations of the
Company.   The obligation of Consultant not to compete with the
Company shall not prohibit Consultant from owning or purchasing not more than a
five percent (5%) beneficial interest in any securities that are regularly
traded on a recognized stock exchange or on the
over-the-counter market subject to relevant federal and state securities
laws.  To the fullest extent permitted by law, upon the termination of
this Agreement for any reason, Consultant shall not use any of the Confidential
Information to directly or indirectly, either as an employee, employer,
consultant, agent, principal, partner, stockholder, corporate officer, director,
or any other individual or representative capacity, engage or participate in any
business, wherever located, that is in direct competition with the business of
the Company. Should any portion of this Section be deemed unenforceable because
of the scope, duration or geographical area encompassed by the undertakings of
the Consultant hereunder, and only in such event, then the Consultant and the
Company consent and agree to such limitation on scope, duration or geographical
area as may be finally adjudicated as enforceable by a court of competent
jurisdiction after the exhaustion of all appeals.

    

    (b)           Non-Solicitation of
Customers.  While providing
Services to the Company, Consultant shall
not divert or attempt to divert (by solicitation or other means), whether
directly or indirectly, the Company’s customers for the purpose of inducing or
encouraging them to sever their relationship with the Company or to solicit them
in connection with any product or service competing with those products and
services offered and sold by the Company.  Also, to the fullest extent
permissible under applicable law, following termination of this Agreement
for any reason, Consultant agrees not use any of the Confidential
Information to directly or indirectly divert or attempt to divert (by
solicitation or other means) the Company’s customers for the purpose of inducing or encouraging them to
sever their relationship with the Company or to solicit them in connection with
any product or service competing with those products and services offered and
sold by the Company.

    

    (c)           Non-Solicitation of
Employees.  To the fullest extent permissible under applicable
law, Consultant agrees that both during the period of this Agreement and for a
period of two (2) years following termination of this Agreement, Consultant
shall not take any action to induce employees or independent contractors of the
Company to sever their relationship with the Company and accept an employment or
an independent contractor relationship with any other
business.   However, this obligation will not affect any
responsibility Consultant may have as an employee of the Company with respect to
the bona fide hiring and firing of Company personnel.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    (d)          Non-Disparagement.  Upon
termination of this Agreement, Consultant agrees to not make any disparaging
remarks about the Company, or any officers, directors, employees, executive or
independent contractors of or to any of the foregoing.

    

    5.           TRADE
SECRETS.  Consultant shall not disclose to any others, or take
or use for Consultant’s own purposes or purposes of any others, during the term
of this Agreement or at any time thereafter, any of the Company’s trade secrets,
including without limitation, Confidential Information, customer lists, wind
farm operators, government contacts, applications, software or intellectual
property of the Company.  Consultant agrees that these restrictions
shall also apply to (i) trade secrets belonging to third parties in Company’s
possession and (ii) trade secrets conceived, originated, discovered or developed
by Consultant during the term of this
Agreement relating to the affairs of the
Company.

    

    6.           REPORTS.  Consultant
agrees that Consultant will from time to time during the term of this Agreement
or any extension thereof keep the Company advised as to Consultant’s progress in
performing the Services hereunder and that Consultant will, as requested by the
Company, prepare written reports with respect thereto. It is understood that the
time required in the preparation of such written reports shall be considered
time devoted to the performance of Consultant’s Services.

    

    7.           CONFLICTING
OBLIGATIONS.  Consultant certifies
that Consultant has no outstanding agreement or obligation that is in conflict
with any of the provisions of this Agreement, or that would preclude Consultant
from complying with the provisions hereof, and further certifies that Consultant
will not enter into any such conflicting agreement during the term of this
Agreement.

    

    8.           TERM AND
TERMINATION

    

    (a)           The
term of this Agreement shall commence on the Effective Date and shall continue
until terminated by either party, with or without written notice to the other
party, and for any reason whatsoever, subject to the provisions of Section 8(b)
below.

    

    (b)           Upon
termination of this Agreement all rights and duties of the parties toward each
other shall cease except:

    

    (i)           the
Company shall be obliged to pay, within thirty (30) days of the effective date
of termination, all undisputed amounts owing to Consultant for Services
completed and accepted by the Company prior to the termination date and related
expenses, if any, in accordance with the provisions of Section 1.

    

    (ii)          Consultant
shall continue to receive the Monthly Fees for a period of three (3) months
based on the Monthly Fee paid to Consultant for the last month prior to
termination.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    (iii)         a
number of shares equal to twenty-five percent (25%) of the then unvested shares
subject to the Stock Award shall become vested and any repurchase right on
behalf of the Company shall lapse as to such shares.

    

    (iv)        Consultant’s
entitlement to receive the payments and benefits described in Sections 8(b)(i),
8(b)(ii) and 8(b)(iii) above is conditioned upon and subject to Consultant’s
execution of a full general release, releasing all claims, known or unknown,
that Consultant may have against the Company arising out of or any way related
to the relationship between the Company and Consultant or termination of
Consultant.

    

    (v)         Sections
2, 3, 4, 5, 8 and 12 shall survive termination of this Agreement.

    

    9.           ASSIGNMENT.  Neither
this Agreement nor any right hereunder or interest herein may be assigned,
delegated or transferred by Consultant without the express written consent of
the Company.

    

    10.         INDEPENDENT
CONTRACTOR.  Nothing in this Agreement shall in any way be
construed to constitute Consultant as an agent, employee or representative of
the Company, but Consultant shall perform the Services hereunder as an
independent contractor. Consultant agrees to furnish (or reimburse the Company
for) all tools and materials necessary to accomplish this Agreement, and shall
incur all expenses associated with performance, except as provided herein.
Consultant acknowledges and agrees that Consultant is obligated to report as
income all compensation received by Consultant pursuant to this Agreement, and
Consultant agrees to and acknowledges the obligation to pay all self-employment
and other taxes thereon. Consultant further agrees to indemnify the Company and
hold it harmless to the extent of any obligation imposed on Company to pay in
withholding taxes or similar items.

    

    11.         EQUITABLE
RELIEF.  Consultant agrees that it would be impossible or
inadequate to measure and calculate the Company’s damages from any breach of the
covenants set forth in Sections 2, 3, 4, and 5 herein. Accordingly, Consultant
agrees that if Consultant breaches Sections 2, 3, 4, or 5, the Company will have
available, in addition to any other right or remedy available, the right to
obtain from any court of competent jurisdiction an injunction restraining such
breach or threatened breach and specific performance of any such provision.
Consultant further agrees that no bond or other security shall be required in
obtaining such equitable relief and Consultant hereby consents to the issuances
of such injunction and to the ordering of such specific
performance.

    

    12.         GOVERNING LAW; JURISDICTION;
ARBITRATION.  This Agreement shall be governed and construed
and enforced in accordance with the internal, substantive laws of the State of
New York, without giving effect to the conflict of law rules thereof; provided, however, that the
interpretation and enforcement of the arbitration provision set forth in this
Section shall be governed by the Federal Arbitration Act.  Any dispute or controversy between the Company and
Consultant, arising out of or relating to this Agreement, the breach of this
Agreement, or otherwise, shall be settled by binding arbitration in New York
City, New York administered by the American
Arbitration Association in accordance with
its Commercial Arbitration Rules then in effect by a single arbitrator.
Both the Company and Consultant shall be precluded from bringing or
raising in court or another forum any dispute that was or could have been
submitted to binding arbitration.  This arbitration requirement does
not apply to claims for any provisional or injunctive relief remedies as set
forth in any New York statute or law.  The parties irrevocably agree to submit to the
jurisdiction of the federal and state courts within the County of New York, New
York for any injunctive relief and in connection with any suit arising out of
the confirmation or enforcement of any award rendered by the arbitrator, and
waive any defense based on forum non convenience or improper venue with respect
thereto.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    No remedy conferred in this Agreement upon Consultant or
the Company is intended to be exclusive of any other remedy, and each and every
such remedy shall be cumulative and shall be in addition to every other remedy
conferred herein or now or hereafter existing at law or in equity or by statute
or otherwise.

     

    THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF
CONSULTANT’S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES
RELATING TO ALL ASPECTS OF CONSULTANT’S RELATIONSHIP WITH THE
COMPANY.

    

    13.         TAX ADVICE.  Consultant acknowledges
that Consultant has not relied and will not rely upon the Company or the
Company’s counsel with respect to any tax consequences related to the terms and
conditions of this Agreement.  Consultant assumes full responsibility
for all such consequences and for the preparation and filing of all tax returns
and elections which may or must be filed in connection with this
Agreement.

    

    14.         REPRESENTATION.  The
parties to this Agreement, and each of them, acknowledge, agree, and represent
that it: (a) has directly participated in the negotiation and preparation of
this Agreement; (b) has read the Agreement and has had the opportunity to
discuss it with counsel of its own choosing; (c) it is fully aware of the
contents and legal affect of this Agreement; (d) has authority to enter
into and sign the Agreement; and (e) enters into and signs the same by its
own free will.

    

    15.         ENTIRE AGREEMENT AND
AMENDMENTS.  This Agreement is the entire agreement of the
parties and supersedes any prior or contemporaneous agreements whether oral or
written between them with respect to the subject matter hereof. This Agreement
may be changed only if agreed to in writing by both parties.

    

    16.         COUNTERPARTS.  This
Agreement may be executed in one or more counterparts, each of which shall be an
original, but all of which together shall constitute one and the same
instrument.

    

    17.         SEVERABILITY.  If
any provision of this Agreement is held to be unenforceable for any reason, such
provision shall be adjusted rather than voided, if possible, in order to achieve
the intent of the parties to the maximum extent possible.  In any
event, all other provisions of this Agreement shall be deemed valid and
enforceable to the full extent possible.

    

    18.         WAIVER. The waiver of any term
or condition contained in this Agreement by any party to this Agreement shall
not be construed as a waiver of a subsequent breach or failure of the same term
or condition or a waiver of any other term or condition contained in this
Agreement.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    IN WITNESSETH WHEREOF, the undersigned have executed
this Agreement as of the date first above written.

    

    
      
        
          
            
              
                	 
      	
                        COMPANY:

                      
	 
      	 
      
	 
      	
                        FAR
      EAST WIND POWER CORP.

                      
	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	 
      	
                        James Crane, Chief Financial
      Officer

                      
	 
      	 
      
	 
      	
                        CONSULTANT:

                      
	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	 
      	
                        Fred
Loh

                      

              

            

          

        

      

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    LIST OF PRIOR
INVENTIONS

    AND ORIGINAL WORKS OF
AUTHORSHIP

    

    
      
        	
                Title

              	 
      	
                Date

              	 
      	
                Identifying Number or Brief Description

              
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                  

              	 
      	
                  

              	 
      

      

    

    

    __    No
inventions or improvements

    

    __    Additional
Sheets Attached

    

    EXHIBIT
A

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