Document:

EX-10.01

Summary of Compensation Payable to Non-Employee Directors

On March 16, 2005, the Compensation Committee of the Board of Directors of eBay Inc. approved
the compensation to be paid to eBay’s non-employee directors for 2005. The compensation amounts
remained unchanged from their 2004 levels, and are described below.

New directors who are not employees of eBay, or any parent, subsidiary or affiliate of eBay,
receive deferred stock units, or DSUs, with an initial value of $150,000 under our 2003 Deferred
Stock Unit Plan. DSUs represent an unfunded, unsecured right to receive shares of eBay common stock
(or the equivalent value thereof in cash or property), and the value of DSUs varies directly with
the price of eBay’s common stock. Each DSU award granted to a non-employee director upon election
to the Board will vest as to 25% of the DSUs on the first anniversary of the date of grant and as
to 1/48 of the DSUs each month thereafter, provided the director continues as a director or
consultant of eBay. DSUs are payable in stock or cash (at eBay’s election) following the
termination of a non-employee director’s tenure in such capacity

Non-employee directors are also eligible to participate in the 1998 Directors Stock Option
Plan, also referred to as the Directors Plan. Option grants under the Directors Plan are automatic
and non-discretionary, and the exercise price of the options must be 100% of the fair market value
of the common stock on the date of grant. Each eligible director is granted an option to purchase
15,000 shares of eBay common stock at the time of each annual meeting if he or she has served
continuously as a member of the Board since the date elected. The Compensation Committee of the
Board elected to maintain the annual option grant under the Directors Plan at 15,000 shares
notwithstanding the two-for-one split of eBay common stock in February 2005. All options granted
under the Directors Plan vest as to 25% of the shares on the first anniversary of the date of grant
and as to 1/48 of the shares each month thereafter, provided the optionee continues as a director
or consultant of eBay.

Non-employee directors are paid a retainer of $50,000 per year, the chairman of the Audit
Committee receives an additional $10,000 per year, and the Lead Independent Director and all other
committee chairs receive an additional $5,000 per year. Directors may elect to receive, in lieu of
these fees and at the time these fees would otherwise be payable (i.e., on a quarterly basis in
arrears for services provided), DSUs with an initial value equal to the amount of these fees. Each
non-employee director also receives meeting fees of $2,000 for each Board meeting and $1,000 for
each committee meeting.

Mr. Omidyar, eBay’s founder and the Chairman of its Board of Directors, does not receive
compensation for his service on the Board of Directors.Exhibit 10.1(a)

THIS  AGREEMENT AND THE SHARES OF STOCK  ISSUABLE  PURSUANT  HERETO (1) HAVE NOT
BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933, AS AMENDED,  (2) ARE BEING
ACQUIRED FOR  INVESTMENT  PURPOSES ONLY AND (3) MAY NOT BE SOLD,  TRANSFERRED OR
ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR
AN OPINION OF COUNSEL IN FORM, SUBSTANCE AND SCOPE REASONABLY  ACCEPTABLE TO NCT
GROUP,  INC.  THAT  REGISTRATION  IS NOT REQUIRED  UNDER SAID ACT OR UNLESS SOLD
PURSUANT TO RULE 144 UNDER SAID ACT. ANY SUCH SALE,  TRANSFER OR ASSIGNMENT MUST
ALSO COMPLY WITH APPLICABLE STATE SECURITIES LAWS.

                       PREFERRED STOCK PURCHASE AGREEMENT

Stock  Purchase  Agreement,  dated March 16,  2005,  between NCT Group,  Inc., a
Delaware  corporation  with an  office at 20  Ketchum  St.,  Westport,  CT 06880
("Issuer"),   and   ________________,   an   individual   with  a  residence  at
____________________________________________ ("Purchaser").

Issuer and Purchaser hereby agree as follows:

1.   Sale and Purchase.  Subject to the terms and conditions of this  Agreement,
     Issuer hereby agrees to issue and sell to Purchaser,  and Purchaser  hereby
     agrees to purchase from Issuer,  __________  shares of Series I Convertible
     Preferred Stock, par value $.10 per share ("Series I Preferred Stock"),  of
     Issuer (the "Preferred  Shares").  The purchase price shall be $_______ per
     Preferred  Share  for  an  aggregate  purchase  price  of  $_________  (the
     "Purchase  Price").  The  consummation  of  this  sale  and  purchase  (the
     "Closing")  shall occur no later than seven days after the  adoption by the
     Board of Directors of Issuer of a Certificate  of  Designation  designating
     the rights and preferences of the Series I Preferred Stock substantially in
     the form  attached  as  Exhibit  --------  A hereto  (the  "Certificate  of
     Designation")  and  implementation  of the  Certificate of Designation  via
     acceptance thereof by the Secretary of State of the State of Delaware.

2.   Payment of Purchase  Price.  As payment of the  Purchase  Price,  Purchaser
     hereby  discharges  and  releases  Issuer  and  its  officers,   directors,
     employees,   agents,   affiliates  and   successors-in-interest   from  the
     obligation  to pay  Purchaser  $_________  in  incentive  bonus  earned  by
     Purchaser  as an employee  of Issuer,  which bonus is as of the date hereof
     accrued and  otherwise  payable in cash to  Purchaser.  Such  amount,  when
     reduced for income withholdings by Issuer or its affiliate(s),  is equal in
     amount to the Purchase Price.

3.   Purchaser  Representations.  Purchaser  hereby  represents  to Issuer  that
     Purchaser (a) has not assigned or  transferred  the  incentive  bonus right
     described in Section 2 above, or any portion  thereof or interest  therein,
     to any third party;  (b)  understands  that the investment in the Preferred
     Shares is a speculative  investment;  (c) is aware of the business  affairs
     and financial condition of Issuer and has acquired  sufficient  information
     about Issuer to reach an informed and knowledgeable decision to acquire the
     Preferred Shares; (d) is purchasing the Preferred Shares for investment for
     Purchaser's  own  account  only and not with a view to,  or for  resale  in
     connection  with, any  "distribution"  within the meaning of the Securities
     Act of 1933,  as  amended  (the  "Securities  Act"),  or  applicable  state
     securities  laws; (e) understands that neither the Preferred Shares nor any
     shares of the Issuer's  common stock issued or issuable upon  conversion of
     the Preferred  Shares (the  "Conversion  Shares")  have been,  nor will be,
     registered  under the Securities Act or applicable state securities laws by
     reason of specific  exemptions  therefrom,  which  exemptions  depend upon,
     among other things,  the bona fide nature of Purchaser's  investment intent
     as expressed  herein;  (f)  acknowledges  that the Preferred Shares and any
     Conversion Shares must be held indefinitely unless subsequently  registered
     under the Securities Act and qualified under  applicable  state  securities
     laws  or  unless   exemptions  from  such  registration  and  qualification
     requirements  are  available;   (g)  acknowledges   that  each  certificate
     representing  the  Preferred  Shares  and  any  Conversion  Shares  will be
     endorsed with a legend  setting forth the  restrictions  on transfer of the
     Preferred  Shares and any  Conversion  Shares;  (h) has had, or has had the
     opportunity  to  have,  this  Agreement  reviewed  prior  to  execution  by
     Purchaser's legal counsel and Purchaser's financial or other advisors;  (i)
     is an  experienced  and  sophisticated  investor and has such knowledge and
     experience in financial  and business  matters as are necessary to evaluate
     the merits and risks of an investment in the Preferred  Shares;  and (j) is
     an  "accredited  investor"  as  defined  in Rule  501(a)  of  Regulation  D
     promulgated  under the Securities  Act.

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4.   Issuer Representations. Issuer hereby represents to Purchaser that (a) upon
     issuance,  the  Preferred  Shares and any  Conversion  Shares  will be duly
     authorized,  validly  issued,  fully paid and  non-assessable;  and (b) the
     Audit  Committee  of the Board of  Directors  of Issuer has  approved  this
     Agreement and the transactions  contemplated  hereby,  pursuant to Issuer's
     Related Party Transactions Policy.

5.   Restrictive   Legend.   Each  certificate  for  Preferred  Shares  and  any
     Conversion Shares that have not been registered and that have not been sold
     pursuant to an exemption  that  permits  removal of a  restrictive  legend,
     shall bear a legend substantially in the following form:

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE (1) HAVE NOT BEEN REGISTERED
     UNDER THE  SECURITIES  ACT OF 1933, AS AMENDED,  (2) HAVE BEEN ACQUIRED FOR
     INVESTMENT  PURPOSES ONLY AND (3) MAY NOT BE SOLD,  TRANSFERRED OR ASSIGNED
     IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT FOR THE  SECURITIES
     UNDER THE SECURITIES  ACT OF 1933, AS AMENDED,  OR AN OPINION OF COUNSEL IN
     FORM,  SUBSTANCE AND SCOPE  REASONABLY  ACCEPTABLE TO NCT GROUP,  INC. THAT
     REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PURSUANT TO RULE
     144 UNDER SAID ACT. ANY SUCH SALE,  TRANSFER OR ASSIGNMENT MUST ALSO COMPLY
     WITH APPLICABLE STATE SECURITIES LAWS.

6.   Closing. At or prior to the Closing,  Issuer shall deliver to Purchaser (a)
     evidence  reasonably  acceptable  to  Purchaser of the adoption by Issuer's
     Board of Directors, and the implementation by the Secretary of State of the
     State of Delaware,  of the Certificate of Designation;  and (b) one or more
     stock certificates for the Preferred Shares.

7.   Miscellaneous.  Notices under this  Agreement  shall be given in writing to
     the party at the address  indicated in the  introductory  paragraph of this
     Agreement.  This Agreement (a) represents the entire agreement  between the
     parties with respect to the subject matter  hereof;  (b) may not be amended
     except  by  written  instrument  executed  by both  parties;  (c)  shall be
     governed by  Connecticut  law as it applies to agreements  entered into and
     wholly to be  performed  in such  State,  other than  matters  relating  to
     corporate law, which shall be governed by Delaware law; (d) may be executed
     in counterparts; and (e) may be delivered by fax.

IN WITNESS WHEREOF, Issuer and Purchaser have duly executed this Preferred Stock
Purchase Agreement as of the date first referenced above.

NCT GROUP, INC.

By:
     -----------------------------------      ----------------------------------
       Mark Melnick                           [Purchaser]
       Senior Vice President, General
       Counsel and Secretary

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