Document:

Unassociated Document

    
 

    
      	 

              Celsia°

              TECHNOLOGIES

              www.celsiatechnologies.com

              OTC
                BB Symbol: ICUR

            
	
              United
                States  

              1395
                Brickell Avenue 

              Suite
                800 

              Miami,
                Florida 33131 

              United
                States 

              Phone:
                +1-305-529-6290  

              Fax:
                +1-305-529-6291

            	
              United
                Kingdom 

              12
                Plumtree Court  

              London,
                England 

              EC4A
                4HT 

              United
                Kingdom

            	
              South
                Korea 

              #1101
                Ace techno tower 8th

              191-7
                Guro-dong, Guro-gu, Seoul, Korea 152-780

              Phone:
                +82-2-3452-2005 

              Fax
                : +82-2-3452-3650

            

    

    

       

      Exhibit
        10.2

       

       

      

       

      
        	
                Michael
                  Karpheden

              	
                December
                  5, 2006

              

      

       

      Re: Letter
        of
        Employment

       

      Dear
        Mr.
        Karpheden:

       

      Pursuant
        to our recent discussions, Celsia Technologies, Inc. desires to extend your
        service as the Chief Financial Officer of Celsia Technologies, Inc. under
        the
        terms and conditions of this Letter Agreement effective January 1, 2007.
         Your
        employment relationship will be subject to the terms and conditions of this
        letter. 

       

      Your
        base
        salary will be $264,000 per year (which includes a car allowance) less
        applicable withholdings, paid in accordance with Celsia’s normal payroll
        practices. 
        Future
        increases in compensation, if any, will be made by the Board of Directors
        in
        their sole and absolute discretion (with recommendations from the Compensation
        Committee).

       

      You
        will
        also be eligible for all fringe benefits available to other
        full-time Celsia
        employees, including medical insurance, and Celsia’s benefit plans (including
        any eligibility requirements) when established. You understand that Celsia
        currently has no such benefit plans in place, but plans to adopt such plans
        in
        the future. Celsia reserves the right to change or eliminate these benefits
        on a
        prospective basis at any time.

       

      Other
        terms of your employment are as follows:

       

      
        	
                Annual
                  Bonus Goals:

              	
                Annual
                  bonus targets will be based on a plan presented to the Board of
                  Directors
                  and reviewed by the Compensation Committee before the end of January
                  each
                  year.

                 

              
	
                Bonus
                  Payment:

              	
                Bonus
                  awards will be any combination of cash, options or common stock
                  and other
                  incentives as may be available from time to time, as determined
                  by the
                  Compensation Committee within 30 days following the filing of the
                  annual
                  10K report for the bonus period.

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

           

        

      

      

      
        	
                Insurance
                  Payment:

              	
                Until
                  Celsia has established employee medical and life insurance plans,
                  you will
                  reimbursed your expenses relating to such insurance (to be paid
                  in
                  accordance with Celsia’s normal payroll practices). Celsia will be
                  entitled to receive evidence of your medical and life insurance
                  coverage.

                 

              
	
                Termination:

              	
                If
                  you are terminated by Celsia other than “for cause” (as defined below),
                  Celsia shall pay you an amount equal to six (6) months of your
                  base
                  salary; provided, however, that such payment shall be conditioned
                  upon you
                  providing iCurie with a full and complete release of all potential
                  claims
                  you may have against iCurie. 

                As
                  used above, “for cause” means (i) your indictment for, conviction of, or
                  plea of nolo
                  contendere to,
                  any felony or a misdemeanor involving fraud, dishonesty or moral
                  turpitude; (ii) a material breach by you of the terms of this agreement
                  or
                  the Employee Nondisclosure and Assignment Agreement; (iii) material
                  misconduct by you in the performance of your duties; (iv) willful
                  or
                  intentional failure to comply with any lawful written instruction
                  or
                  directive of the Board of Directors of Celsia; or (v) your voluntary
                  resignation or termination of this Letter Agreement. 

                 

              
	
                Non-Competition:

              	
                You
                  agree that during your employment with Celsia and for a period
                  of
                  one (1) year thereafter, you will not, individually or in association
                  or combination with any other person or any entity, directly or
                  indirectly, whether or not for monetary benefit, engage in, own,
                  be
                  employed by, consult with, solicit business for, provide services
                  to,
                  manage, control, operate or otherwise carry on any business which
                  is
                  competitive with Celsia in any market anywhere.

                 

              
	
                Vacation:

              	
                Four
                  weeks paid vacation per year, based on a calendar year.

                 

              
	
                Sick
                  Days:

              	
                You
                  are entitled to ten (10) sick days per
                  year.

              

      

       

      If
        you
        accept our offer, your employment with Celsia will be “at-will”, subject to the
        termination arrangements outlined above. This means your employment is not
        for
        any specific period of time and can be terminated by you (on six months notice)
        or Celsia at any time for any reason. Upon your execution of this letter,
        the
        terms hereof will govern your employment by Celsia so long as you remain
        in your
        position. 

       

      In
        the
        event of any dispute or claim relating to or arising out of our employment
        relationship or the termination of that relationship (including, but not
        limited
        to, any claims of wrongful termination or age, sex, race, disability or other
        discrimination), you and Celsia agree that all such disputes shall be fully
        and
        finally resolved by binding arbitration conducted before a single neutral
        arbitrator pursuant to the rules for arbitration of employment disputes by
        the
        American Arbitration Association (available at www.adr.org) in Miami, Florida.
        By executing this letter, you and Celsia are both waiving the right to a
        jury
        trial with respect to any such disputes.
        Each
        party shall bear its own respective attorney fees and all other costs, unless
        otherwise provided by law and awarded by the arbitrator.

       

      
        
           

        

        
           

          
            

          

        

        
           

           

        

      

      

       

      This
        letter, including the Employee Nondisclosure and Assignment Agreement,
        constitutes the entire agreement between you and Celsia relating to this
        subject
        matter and supersedes all prior or contemporaneous agreements, understandings,
        negotiations or representations, whether oral or written, express or implied,
        on
        this subject. This letter may not be modified or amended except by a specific,
        written agreement signed by you and Celsia.

       

      To
        indicate your acceptance of Celsia’s offer on the terms and conditions set forth
        in this letter, please sign and date this letter in the space provided
        below.

       

      We
        hope
        your employment with Celsia will prove mutually rewarding. 

       

      
        	 	
                Sincerely,
                  

              
	 	 
	 	
                /s/
                  Hakan Wretsell

              
	 	
                Hakan
                  Wretsell

              
	 	
                CEO,
                  Celsia Technologies, Inc.

              

      

       

      * * *

       

      I
        have
        read this offer letter in its entirety and agree to the terms and conditions
        of
        employment.

       

      
        	
                Dated:
                  March 22, 2007

              	
                /s/
                  Michael Karpheden

              
	 	
                Michael
                  KarphedenUnassociated Document

    AGREEMENT

    

    

    THIS
      AGREEMENT
      is
      effective as of March 26, 2007, by and between Vero Management, L.L.C., a
      Delaware limited liability company with its principal place of business located
      at 936A Beachland Boulevard, Suite 13, Vero Beach, FL 32963 (“Vero”) and
      IPORUSSIA, INC., a corporation organized and existing under the laws of the
      state of Delaware, with its principal place of business located at 936A
      Beachland Boulevard, Suite 13, Vero Beach, FL 32963 (“Client”). Vero and Client
      may each be referred to as a “Party” or collectively as the
“Parties.”

    

    RECITALS

    

    WHEREAS,
      Vero is
      engaged in the business of providing managerial and administrative support
      services to public and private companies; and

    

    WHEREAS,
      Client
      desires to engage the services of Vero as described herein and Vero desires
      to
      perform such services, all in accordance with the terms and conditions herein
      set forth;

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual promises and covenants set forth herein, the Parties
      hereby agree as follows:

    

    
      	
              1.

            	
              Intent
                and Services

            

    

     

    It
      is the
      general nature and intent of this Agreement that Vero will provide to Client
      a
      broad range of managerial and administrative services including but not limited
      to assistance in the preparation and maintenance of its financial books and
      records, the filing of various reports with the appropriate regulatory agencies
      as are required by State and Federal rules and regulations, the administration
      of matters relating to Client’s shareholders including responding to various
      information requests from shareholders as well as the preparation and
      distribution to shareholders of relevant Client materials, and the providing
      of
      office space, corporate identity, telephone and fax services, mailing, postage
      and courier services (“Services”). This Agreement shall be liberally construed
      in order to insure that Vero provides to Client those Services necessary for
      Client to efficiently manage its business operations, efficiently respond to
      its
      shareholders and timely comply with its regulatory reporting requirements.
      The
      parties hereto specifically acknowledge and agree that Vero will not provide
      any
      legal, auditing, accounting, investment banking or capital formation services
      to
      Client.

    

    
      	
              2.

            	
              Term

            

    

    

    This
      Agreement shall be in effect for a term of one (1) year commencing on the date
      hereof; provide that either party may terminate this Agreement upon written
      notice to the other party at any time. At the end of the initial term, this
      Agreement shall remain in effect until terminated in writing by either party.
      All duties for payment of compensation owed to Vero and those duties that
      generally survive termination shall survive the termination of this
      agreement.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      	
              3.

            	
              Compensation

            

    

    

    In
      consideration of the services provides hereunder, Vero shall be entitled to
      the
      following compensation: 

    

    
      	 	
              a)

            	
              Client
                shall pay Vero a fee equal to $2,000 per month for each month, or
                any part
                thereof, that the Services hereunder are provided. The Parties
                specifically agree that in no event will the monthly fees be prorated
                either due to the initiation of Services following the first day
                of a
                particular month or the termination of Services prior to month’s
                end;

            

    

    

    
      	 	
              b)

            	
              Client
                shall reimburse Vero for any out-pocket expenses incurred by Vero
                in
                connection with its Services hereunder (including, without limitation,
                expenses of consultants and advisors engaged by Vero to perform all
                or any
                part of the Services hereunder, provided such expenses are approved
                by
                Client in advance). 

            

    

    

    Vero
      shall bill Client for the Services on the first day of each month and payment
      shall be due within seven (7) business days thereafter.

    

    
      	
              4.

            	
              Independent
                Contractor

            

    

    

    Vero
      shall be, and is deemed to be, an independent contractor in the performance
      of
      its duties hereunder. Vero shall have no power to enter into any agreement
      on
      behalf of or otherwise bind Client without the express prior written consent
      of
      Client. Vero shall be free to pursue, conduct, carry on and provide for its
      own
      account (or for the account of others) similar Services to other clients.

    

    
      	
              5.

            	
              Indemnification

            

    

    

    Client
      agrees to indemnify and hold Vero and its officers, directors, shareholders,
      managers, members, agents, advisors, consultants and employees (“Indemnified
      Parties”) harmless from any and all losses, expenses, claims, damages or
      liabilities (including reasonable attorneys’ fees) incurred by any Indemnified
      Party arising out of or related to the performance of Vero's duties under this
      Agreement, and Client shall, at the option of Vero, reimburse Vero or pay
      directly for any and all legal or other expenses incurred in connection with
      the
      investigation or defense of any action or claim in connection therewith.
      Notwithstanding the aforesaid, Client shall not be liable for any loss, claim,
      damage or liability that is found (as set forth in a final judgment by a court
      of competent jurisdiction) to have resulted in a material part from any act
      by
      Vero which constitutes fraud or gross negligence by Vero.

    

    
      	6.	
              Confidentiality

            

    

    

    Vero
      agrees that any information provided to it by Client of a confidential nature
      will not be revealed or disclosed to any person or entity, except in the
      performance of this Agreement. Upon the termination of this Agreement and
      following receipt of a written request from Client, all documentation provided
      by Client to Vero will be returned to it or destroyed.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      	7.	
              Notices

            

    

    

    All
      notices hereunder shall be in writing addressed to the Party at the address
      herein set forth, or at such other address as to which notice: pursuant to
      this
      section may be given, and shall be given by personal delivery, by certified
      mail
      (return receipt requested), Express Mail or by national overnight courier.
      Notices will be deemed given upon the earlier of actual receipt or three (3)
      business days
      after being mailed or delivered to such courier service.

    

    Notices
      shall be addressed as follows:

    

    
      	 	
              If
                to Vero:

            	
              Vero
                Management, L.L.C.

            

    

    936A
      Beachland Boulevard, Suite 13

    Vero
      Beach, FL 32963

    Attn:
      Kevin R. Keating, Manager 

    

    
      	 	
              If
                to Client:

            	
              IPORUSSIA,
                INC. 

            

    

    936A
      Beachland Boulevard, Suite 13

    Vero
      Beach, FL 32963

    Attn:
      Kevin R. Keating, President

    

    Any
      notices to be given hereunder will be effective if executed by and sent by
      the
      attorneys for the Parties giving such notice, and in connection therewith the
      Parties and their respective counsel agree that, in giving such notice, such
      counsel may communicate directly in writing, with such Parties to the extent
      necessary to give such notice.

    

    
      	8.	
              Representations
                and Warranties of Client

            

    

    

    Client
      represents and warrants that:

    

    
      	 	
              a)

            	
              Client
                will cooperate fully and timely with Vero to enable Vero to perform
                the
                Services that may be rendered
                hereunder;

            

    

    

    
      	 	
              b)

            	
              Client
                has full power and authority to enter into this
                Agreement;

            

    

    

    
      	 	
              c)

            	
              The
                performance by Client of this Agreement will not violate any applicable
                court decree, law or regulation, nor will it violate any provision(s)
                of
                the organizational or corporate governance documents of Client or
                any
                contractual obligation by which Client may be bound;
                and

            

    

    

    
      	 	
              d)

            	
              All
                information supplied to Vero by Client, shall be true and accurate
                and
                complete in all material respects, to the best of Client's
                knowledge.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	9.	
              Representations
                and Warranties of Vero

            

    

    

    Vero
      represents and warrants that:

    

    
      	 	
              a)

            	
              It
                has full power and authority to enter this
                Agreement;

            

    

    

    
      	 	
              b)

            	
              It
                has the requisite skill and experience to perform the Services and
                to
                carry out and fulfill its duties and obligations hereunder;
                and

            

    

    

    
      	 	
              c)

            	
              It
                will use its best efforts to complete all Services in a timely and
                professional manner.

            

    

    

    
      	10.	
              Governing
                Law, Dispute Resolution, and
                Jurisdiction

            

    

    

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Florida, without giving effect to the conflicts of laws principles
      thereof. All disputes, controversies or claims (“Disputes”) arising out of or
      relating to this Agreement shall in the first instance be the subject of a
      meeting between a representative of each Party who has decision-making authority
      with respect to the matter in question. Should the meeting either not take
      place
      or not result in a resolution of the Dispute within twenty (20) business days
      following notice of the Dispute to the other Party, then the Dispute shall
      be
      resolved in a binding arbitration proceeding to be held in Orlando, Florida,
      in
      accordance with the international rules of the American Arbitration Association.
      The Parties agree that a panel of one arbitrator shall be required. Any award
      of
      the arbitrator shall be deemed confidential information for a minimum period
      of
      five years. The arbitrator may award attorneys’ fees and other arbitration
      related expense, as well as pre- and post-judgment interest on any award of
      damages, to the prevailing Party, in their sole discretion.

    

    
      	11.	
              Miscellaneous

            

    

    

    
      	 	
              a)

            	
              No
                Waiver.
                No provision of this Agreement maybe waived except by agreement in
                writing
                signed by the waiving Party. A waiver of any term or provision of
                this
                Agreement shall not be construed as a waiver of any other term or
                provision.

            

    

    

    
      	 	
              b)

            	
              Non-assignability.
                This Agreement is not assignable without the written consent of the
                other
                Party.

            

    

    

    
      	 	
              c)

            	
              Multiple
                Counterparts. This
                Agreement may be executed in multiple counterparts, each of which
                shall be
                deemed an original. It shall not be necessary that each Party executes
                each counterpart, or that any one counterpart be executed by more
                than one
                Party so long as each Party executes at least one
                counterpart.

            

    

    

    
      	 	
              d)

            	
              Severability.
                If any provision of this Agreement is declared by any court of competent
                jurisdiction to be invalid for any reason, such invalidity shall
                not
                affect the remaining provisions of this
                Agreement.

            

    

    

    
      	 	
              e)

            	
              Construction.
                No provision of this Agreement shall be construed against any Party
                by
                virtue of the fact that that this Agreement was primarily prepared
                by such
                Party.

            

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	 	
              f)

            	
              Headings.
                The section and paragraph heading shall not be deemed a part of this
                Agreement.

            

    

    

    IN
      WITNESS WHEREOF
      the
      undersigned have executed this Agreement as of the day and year first above
      written.

    

    

    
      	
              Vero
                Management, L.L.C.

            	
              IPORUSSIA,
                INC.

            
	 	 
	 	 
	
              By:
                /s/ Kevin R. Keating

            	
              By:
                /s/ Kevin R. Keating

            
	
                    
                Kevin R. Keating, Manager

            	
                    
                Kevin R. Keating, President

            
	 	 
	 	 
	
              Agreed
                to by the Client’s Principal Shareholder:

            	 
	 	 
	
              KI
                Equity Partners VI, LLC

            	 
	 	 
	 	 
	
              By: /s/
                Timothy J. Keating

            	 
	
                   
                Timothy J. Keating, Manager

            	 

    

    

    
      
         

      

      
        5

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