Document:

Non-Qualified Stock Option Agreement

 Exhibit 10.4 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
  
 This Non-Qualified Stock Option Agreement (this “Agreement”) is made and entered into and effective as of
September 14, 2004 (the “Effective Date”), by and between enherent Corp., a Delaware corporation (the “Company”), and Douglas Mellinger, an individual (“Participant”), with respect to the following circumstances:

  
 WHEREAS, the Company and Participant entered into an
Agreement on the Effective Date (the “Agreement”), and the Company wants to create an additional incentive for Participant to continue to devote business efforts providing services to the Company as Vice Chairman in order to enhance the
profitability and value of the Company; 
  
 WHEREAS, the
Company believes that the issuance to Participant of the option and right to acquire up to 500,000 shares of the capital common stock of the Company, which shall be exercisable under the circumstances provided in this Agreement, for an exercise
price of eleven cents ($0.11) per whole share of stock acquired will provide Participant with that incentive; 
  
 WHEREAS, the Company and Participant want this Agreement to reflect in its entirety the agreement between the Participant and the Company with
respect to the issuance, vesting, exercise, and other terms of the option and rights provided in this Agreement; 
  
 NOW, THEREFORE, in consideration of the foregoing premises, the Company and Participant hereby agree as follows: 
  
 1. Grant of the Option. This Agreement shall constitute a
non-qualified stock option to create an incentive for Participant to continue to devote a portion of Participant’s business efforts providing services to the Company as a consultant in order to enhance the profitability and value of the
Company. Subject to the terms of this Agreement, the Company hereby grants to Participant the option and right to acquire from the Company up to 500,000 shares of the capital common stock of the Company (the “Stock”) exercisable under the
circumstances and upon the satisfaction of the conditions provided in this Agreement for an exercise price of eleven cents ($0.11) per whole share of Stock (the “Purchase Price”) acquired (the “Option”), and Participant hereby
accepts the grant and the delivery of the Option. The Option may be exercised in accordance with and upon satisfaction of the terms and conditions provided in Sections 4 and 5 of this Agreement. Each share of the Stock to be delivered by the Company
to Participant pursuant to Participant’s exercise of the Option shall be delivered or deemed delivered by the Company pursuant to a nonqualified stock option. The Option is not and shall not become transferable or assignable. 
  
 2. Character of Option. The Option is not an “incentive stock
option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 
  
 3. Term. The Option will expire on (a) the day prior to the 10th anniversary of the Effective Date or (b) in the event of the Participant’s termination of service as a consultant of the Company under the terms of the
Agreement between the Company and Participant of even date herewith. Nothing contained in this Agreement shall obligate the Company to continue to use the services of Participant as a consultant. In the event of Participant’s termination, the
Company’s Board of Directors may, at its discretion, elect to continue this Agreement for a specified period of time. 
  

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 4. Vesting. 
  
 (a) Subject to the earlier termination of the Option as provided in this Agreement and the acceleration of vesting as
provided in section 4(b) below, the Option shall vest in equal annual installments of shares on September 14 of each year beginning September 14, 2005 and shall be fully vested on September 14, 2011. The Company and Participant acknowledge and agree
that they intend to negotiate with respect to an amendment to these vesting provisions to incorporate the concept of performance vesting. However, no such amendment will be effective unless evidenced by a written document signed by each of the
Company and Participant. 
  
 (b) The Option shall be fully
vested and exercisable in full with respect to all 500,000 of the shares of Stock if any of the following events shall occur (each a “Change of Control Event”); except that for purposes of this Section 4(b), the merger of Dynax
Solutions, Inc. with and into the Company shall not constitute a Change of Control Event: 
  
 (1) any “person” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (other than (i)
the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as
their ownership of the common stock of the Company) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of securities of the Company (not including securities
acquired directly from the Company or its affiliates) representing fifty-one percent (51%) or more of the combined voting power of the Company’s then outstanding voting securities; 
  
 (2) the stockholders of the Company approve a merger or consolidation of the Company with any other
corporation, other than (A) 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 without conversion or by being converted
into voting securities of the surviving or parent entity) fifty one (51%) or more of the combined voting power of the voting securities of the Company or such surviving or parent entity outstanding immediately after such merger or consolidation or
(B) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no “person” (as hereinabove defined) acquires fifty-one (51%) or more of the combined voting power of the
Company’s then outstanding securities; or 
  
 (3) 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 any transaction having
a similar effect). 
  
 (4) during any
period not exceeding two (2) consecutive years, individuals who at the beginning of such period constitute the Company’s Board of Directors, and any new director (other than a director designated by a person who has entered into an agreement

  

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 with the Company to effect a transaction described in clause (1), (2) or (3) of this Section 4(b)) whose
election by the Company’s Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of
the subject period or whose election or nomination for election was previously approved in the same manner (other than approval given in connection with an actual or threatened proxy or election contest), cease for any reason to constitute at least
seventy percent (70%) of the Company’s Board of Directors. 
  
 5. Exercisability. 
  
 (a) Unless and
until a certificate or certificates representing shares of the Stock have been delivered to Participant by the Company pursuant to this Agreement, Participant shall not be or have any of the rights or privileges of a stockholder of the Company with
respect to shares of the Stock acquirable upon the exercise of the Option. The Purchase Price of shares of the Stock as to which the Option is exercised shall be paid in full at the time of exercise in cash (including check, bank draft or money
order payable to the order of the Company). 
  
 (b) This
Option shall be exercisable from time to time to the extent then vested. Subject to the terms and conditions of this Agreement, this Option may be exercised by written notice to the Company at its principal executive office, or to such transfer
agent as the Company shall designate. Such notice shall state the election to exercise this option and the number of shares of Stock for which it is being exercised and shall be signed by the person or persons so exercising this option. Such notice
shall be accompanied by payment of the full purchase price of such shares, and the Company shall deliver a certificate or certificates representing such shares as soon as practicable after the notice shall be received. Such certificate or
certificates shall be registered in the name of the person or persons so exercising this option (or, if this option shall be exercised by the Participant and if the Participant shall so request in the notice exercising this option, shall be
registered in the name of the Participant and another person jointly, with right of survivorship). 
  
 (c) All shares of the Stock delivered to Participant by the Company upon Participant’s exercise of the Option in accordance with this
Agreement shall be validly issued, fully paid and non-assessable, free from all taxes and liens (except such taxes as may be imposed upon Participant in connection with Participant’s exercise of the Option and/or the delivery of shares of the
Stock to Participant pursuant to the exercise of the Option), and all preemptive or similar rights. 
  
 (d) Following expiration of the term of this Agreement pursuant to Section 3, the Options evidenced by this Agreement to the extent vested
at the date of expiration of the term of this Agreement may be exercised for a period of ninety (90) days from the date of expiration of the term of this Agreement. 
  
 6. Withholding of Tax. To the extent that the exercise of the Option or the disposition of shares of the Stock
acquired by exercise of the Option results in compensation income to Participant for federal, state or local income tax purposes which is required to be withheld by the Company pursuant to applicable law, Participant shall deliver to the Company, at
the time of such exercise or disposition such amount of money or shares of the Stock as the Company may require to 
  

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 meet its obligation under applicable tax laws or regulations, and, if Participant fails to do so, the Company is
authorized to withhold from any cash or the Stock remuneration then or thereafter payable to Participant any tax required to be withheld by reason of such resulting compensation income. Upon an exercise of the Option, the Company is further
authorized in its discretion to satisfy any such withholding requirement out of any cash or shares of the Stock distributable upon such exercise. 
  
 7. Securities Laws, Restrictions on Resale, Additional Agreements. Until registered under the Securities Act of 1933, as amended, or any successor
statute (the “Securities Act”), the Stock will be illiquid and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with the registration
requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Stock has been registered under the Securities Act, each certificate evidencing any of the Stock shall bear a restrictive legend specified
by the Company. To the extent that the Participant shall be bound by any agreement between or among the Participant and the Company, pursuant to which the Participant has agreed to subject any shares of Stock to restrictions, including restrictions
on resale, any actual or attempted transfer, sale, assignment or hypothecation of any shares of Stock acquired hereunder shall, in addition to all applicable provisions of law, be conditioned upon and subject to such agreements, and the Company
shall be entitled to require as a condition to the issuance of any shares of Stock compliance and evidence of compliance with such agreements. 
  
 8. Adjustment of Purchase Price. The Purchase Price in effect at any time and the number and kind of securities issuable upon exercise of the
Option shall be subject to adjustment from time to time upon the happening of certain events as follows: 
  
 (a) In case the Company shall (i) subdivide or reclassify its outstanding shares of Stock into a greater number of shares, or (ii) combine or
reclassify its outstanding shares of Stock into a smaller number of shares, the applicable Purchase Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or
reclassification shall be adjusted so that it shall equal the number of shares determined by multiplying the Purchase Price by a fraction, the denominator of which shall be the number of shares of Stock outstanding after giving effect to such
action, and the numerator of which shall be the number of shares of Stock outstanding immediately prior to such action. 
  
 (b) Whenever the Purchase Price payable upon exercise of this Option is adjusted pursuant to Subsection (a) above, the number of shares of common
stock purchasable upon exercise of this Option shall simultaneously be adjusted by multiplying the number of Shares initially issuable upon exercise of this Option by the Purchase Price in effect on the date hereof and dividing the product so
obtained by the Purchase Price, as adjusted. 
  
 9. Replacement
of Option. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of the Option and, in the case of any such loss, theft or destruction of the Option, on delivery of an indemnity agreement or
security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of the Option, the Company at its expense will execute and deliver, in lieu thereof, a new Option of like tenor.

  

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 10. Notices, etc. All notices and other communications required by or made pursuant to this
Agreement from either party to the other shall be hand-delivered or mailed by first class registered or certified mail, postage prepaid, at the most recent address that the intended recipient of that notice or other communication has furnished to
the sender of that notice or other communication. 
  
 11.
Binding Effect. This Agreement shall be binding upon and inure to the benefit of Participant, and, as applicable, his respective heirs, devisees, successors and assigns. In the event this Agreement conflicts with any other written agreement
between Participant and the Company concerning the subject matter of this Agreement, the terms and provisions of this Agreement shall control. 
  
 12. Severability. The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality
or enforceability of any other provision. 
  
 13. Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware. 
  
 IN WITNESS WHEREOF, this Agreement has been executed effective as of the day and year first above written. 
  

			
	ENHERENT CORP.
		
	By:	 	 /S/ Douglas Catalano

	Name:	 	Douglas Catalano
	Title:	 	Chief Executive Officer
	
	PARTICIPANT
	
	 /S/ Douglas Mellinger

	Douglas Mellinger

  

 5Agreement

 Exhibit 10.5 
  
 

 
  
 AGREEMENT 
  
 THIS AGREEMENT (this “Agreement”) is effective the 14th day of
September, 2004 (the “Effective Date”) by and between enherent Corp., a Delaware corporation, with its principal place of business at 80 Lamberton Rd., Windsor, CT 06095, with all of its direct and indirect subsidiaries, (the
“Company”) and Douglas Mellinger, an individual residing at 1241 Westover Rd., Stamford, CT 06092 (the “Vice Chairman”). 
  
 RECITALS: 
  
 A. The Company is a global information technology services company. 
  
 B. The Vice Chairman is experienced in the information technology services industry and has been a Vice Chairman of the
Company and the Company desires to continue this relationship by agreeing to the terms set out herein. 
  
 C. The Company believes the Vice Chairman will contribute to the profitability of the Company and desires to continue to utilize the Vice Chairman’s
experience. 
  
 D. The Vice Chairman is willing to make his
services available to the Company on the terms and conditions hereinafter set forth. 
  
 AGREEMENT: 
  
 Therefore,
in consideration of the premises, mutual covenants and agreements of the parties contained herein, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Company and the Vice Chairman hereby agree as
follows: 
  
 1) Term. The term (the “Term”) of
this Agreement shall begin on the Effective Date and, except as otherwise provided in Sections 6 and 7 shall end on December 31, 2007. The Term of this Agreement shall not be further extended without the mutual written consent of the parties.

  
 2) Services. The Vice Chairman shall coordinate his
activities under the direction of the Chief Executive Officer (“CEO”). The Vice Chairman will provide assistance to the Company related to the development of corporate strategy, including but not limited to market positioning and merger
and acquisition strategy. 
  

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 3) Fees. 
  

a) Fee. During the Term, the Vice Chairman shall be paid an annual fee of Sixty Thousand Dollars ($60,000), payable in equal monthly
installments on the first of each month with the first payment of Five Thousand Dollars ($5,000) being due and payable on October 1, 2004. 
  
 b) Certain Additional Consideration. In addition to the above payments, the Vice Chairman will receive options to purchase 500,000 shares of common
stock which shall be governed by the terms of a Non-Qualified Stock Option Agreement in the form of Exhibit A attached hereto. 
  
 4) Nonemployee Member Of Board Status. The Vice Chairman’s relationship to the Company is that of independent nonemployee member of the board
of directors and the Vice Chairman shall not be deemed to be an employee of the Company. The Vice Chairman shall develop his own time schedule and is responsible for furnishing at his expense any equipment or material necessary to perform the Vice
Chairman function. Nothing in this Agreement shall be interpreted or construed as creating or establishing a joint venture, partnership, agency relationship, or formal business organization of any kind. The Vice Chairman understands that he is not
entitled to workers’ compensation benefits or unemployment insurance benefits hereunder and he shall not receive such benefits unless the Vice Chairman or some person or entity other than the Company provides such benefits. The Vice Chairman
agrees to pay and file all reports with respect to local, state, federal, and foreign taxes, including withholding and FICA taxes, on any moneys earned pursuant to this Agreement. 
  
 5) Confidentiality. Vice Chairman agrees that the following constitutes confidential information or trade secrets and
agrees not to disclose same to anyone during the term of this Agreement or thereafter: 
  
 a) Non-public information acquired during the performance of this Agreement; 
  
 b) The finances, business affairs, and circumstances of clients of Company or Company; and 
  
 c) All information and data relating to the services hereunder and Company’s operation. 
  
 This Paragraph shall survive termination of this Agreement. 
  

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 6) Restrictions. 
  
 a) Non-solicitation. During the Term and for a one (1) year period after the termination of the Term for any reason,
the Vice Chairman shall not directly or indirectly, for himself or for any other person, firm, corporation, partnership, association or other entity, other than in connection with the performance of the Vice Chairman’s duties under this
Agreement, (i) solicit for employment or attempt to employ or enter into any contractual arrangement with any employee, consultant or independent contractor or former employee, consultant or independent contractor of the Company, unless such
employee, consultant or independent contractor, has not been employed or engaged by the Company for a period in excess of six (6) months or (ii) call on or solicit any of the operating units of the clients doing business with the Company as of the
termination of the Term or potential clients with which the Company is conducting negotiations at the termination of the Term for any reason on behalf of any person or entity in connection with any business competitive with the business of the
Company. 
  
 b) Acknowledgment by the Vice Chairman. The
Vice Chairman acknowledges and confirms that (i) the restrictive covenants contained in this Section 6 are reasonably necessary to protect the legitimate business interests of the Company and (ii) the restrictions contained in this Section 6
(including without limitation the length of the term of the provisions of this Section 6 are not over broad, over long, or unfair and are not the result of overreaching, duress or coercion of any kind). The Vice Chairman further acknowledges and
confirms that his full, uninhibited and faithful observance of each of the covenants contained in this Section 6 will not cause him any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not
impair his ability to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required for the comfortable support of him and his family and the satisfaction of the needs of his creditors.
The Vice Chairman acknowledges and confirms that his special knowledge of the business of the Company is such as would cause the Company serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor of the
Company in violation of the terms of this Section 6. The Vice Chairman further acknowledges that the restrictions contained in this Section 6 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s
successors and assigns. 
  
 c) Reformation by Court. In the
event that a court of competent jurisdiction shall determine that any provision of this Section 6 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of this Section 6 within the
jurisdiction of such court, such provision shall be interpreted and enforced as if it provided for the maximum restriction permitted under such governing law. 
  

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 d) Extension of Time. If the Vice Chairman shall be in violation of any provision of this Section
6 then each time limitation set forth in this Section 6 shall be extended for a period of time equal to the period of time during which such violation or violations occur. If the Company seeks injunctive relief from such violation in any court, then
the covenants set forth in this Section 6 shall be extended for a period of time equal to the pendency of such proceeding including all appeals by the Vice Chairman. 
  
 e) Survival. The provisions of this Section 6 shall survive the termination of this Agreement, as applicable.

  
 7) Termination. The Company and the Vice Chairman shall
have the right to terminate the Term and the Vice Chairman’s engagement hereunder for any reason upon providing the other party with thirty (30) days written notice, however, the Company will not terminate the Agreement for one (1) year unless
there is a material breach of the Agreement. 
  
 8)
Waivers. It is understood that either party may waive the strict performance of any covenant or agreement made herein; however, any waiver made by a party hereto must be duly made in writing in order to be considered a waiver, and the waiver
of one covenant or agreement shall not be considered a waiver of any other covenant or agreement unless specifically in writing as aforementioned. 
  
 9) Savings Provisions. The invalidity, in whole or in part, of any covenant or restriction, or any section, subsection, sentence, clause, phrase or
word, or other provisions of this Agreement, as the same may be amended from time to time shall not affect the validity of the remaining portions thereof. 
  
 10) Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Connecticut without giving effect
to its choice of law provision. 
  
 11) Notices. If either
party desires to give notice to the other in connection with any of the terms and provisions of this Agreement, said notice must be in writing and shall be deemed given when (a) delivered by hand (with written confirmation of receipt); (b) sent by
facsimile (with written confirmation of receipt), provided that a copy is mailed by registered mail, return receipt requested, 
  

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 or (c) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested),
in each case addressed to the party for whom it is intended at the address specified above. 
  
 12) Default. Except as otherwise provided in the last sentence of section 14, in the event either party defaults in the performance of its
obligations under this Agreement, the non-defaulting party may, after giving 30 days’ notice to the defaulting party to provide a reasonable opportunity to cure such default, proceed to protect its rights by suit in equity, action or law, or,
where specifically provided for herein, by arbitration, to enforce performance under this Agreement or to recover damages for breach thereof, including all costs and attorneys’ fees, whether settled out of court, arbitrated, or tried (at both
trial and appellate levels). 
  
 13) No Third Party
Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any person other than the Company, the parties hereto and their respective heirs, personal representatives, legal
representatives, successors and assigns, any rights or remedies under or by reason of this Agreement. 
  
 14) Waiver of Jury Trial. All parties knowingly waive their rights to request a trial by jury in any litigation in any court of law, tribunal or
legal proceeding involving the parties hereto or any disputes arising out of or related to this Agreement. Any controversy or claim arising out of this Agreement, its enforcement or interpretation, or alleged breach, default or misrepresentation in
connection with any of its provisions, shall be submitted to binding arbitration before JAMS-Endispute in accordance with its rules and procedures for commercial arbitration of disputes with arbitrators knowledgeable in the computer
consulting/information technology industry. The non-prevailing party shall pay the cost of the arbitration, provided, however, each party shall bear the expenses of its own attorneys. Notwithstanding the foregoing and the provisions of Section 12,
the Company may proceed immediately to litigation to enforce its rights under Sections 5 and 6 hereof. 
  
 15) Successors. This Agreement shall inure to the benefit of and be binding upon the Vice Chairman and the Vice Chairman’s assigns, heirs,
representatives or estate. 
  
 16) Indemnity by Vice
Chairman. Vice Chairman shall indemnify the Company from all loss, cost, damage and expense, including, without limitation, legal fees and expenses, the Company may suffer as the result of or arising out of Vice Chairman’s relationship with
any current or future employer. 
  

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 IN WITNESS WHEREOF, the Company, by its appropriate officer, signed this Agreement and the Vice Chairman
has signed this Agreement, as of the day and year first above written. 
  

					
	AGREED TO BY:	  	AGREED TO BY:
		
	Vice Chairman: Douglas Mellinger	  	enherent Corp.
	 	  	Douglas A. Catalano
	 	  	CEO/Chairman/President
			
	 /s/ Douglas Mellinger

	  	By:	 	 /s/ Douglas A. Catalno

	Date: 9/14/04	  	Date:	 	9/14/04

  

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