Document:

EXHIBIT 10.36

 

[Nexsan Technologies
Logo]

 

October 22, 2008

 

Mike McGuire

 

Dear Mike,

 

It is my pleasure to present you with this offer to join
Nexsan’s worldwide team of professionals. Below you will find the outline of
the terms of the offer.

 

1.             Position and
Responsibilities.
 The title of your position will be Chief
Commercial Officer, and the effective date of your employment (first day of
work) will be October 29, 2008 unless mutually agreed otherwise.

 

The responsibilities of this position may include, but not be limited
to:

 

·      Prepare and execute worldwide sales strategy to meet
company revenue and profit plan objectives through global expansion of VAR, OEM
and systems integrator partner base and by developing appropriate programs to
support revenue growth from existing partners.

 

·      Establish sales cycle discipline within the company
to include active management of annual and quarterly forecasts, budgets and
compensation plans.

 

·      Develop a world class market facing organization;
institute best in class account planning and process discipline and rigor to
establish and deliver against appropriate forecasts.

 

·      Review and establish an effective sales compensation
structure that drives high-margin revenue growth while being aligned with
Nexsan’s overall objectives.

 

·      Direct the efforts of the sales force and drive the
successful closing of key sales activities and customer relationships.

 

·      Serve as the senior representative of Nexsan within
target accounts; serve as the “closer” of significant deals.

 

·      Interface with Nexsan customers to ensure
appropriate expectations and achievement of objectives.

 

·      Share customer and market feedback with others on
the senior management team to ensure that customer requirements are factored
into all existing and new product development processes.

 

·      Assess competitive landscape and, in conjunction with
other members of senior management, ensure appropriate pricing and product
positioning occurs within the customer base.

 

1

 

·      Plan the organization’s marketing communications
budget including print, electronic and direct mail outlets. As appropriate to
enable and support the sales and margin growth objectives, measure ROI of
various marketing activities and programs and make adjustments as appropriate.

 

·      Create partnerships and alliances that move the
business forward in accordance with established business objectives.

 

·      Contribute as an integrated member of the senior
management team.

 

It is understood that your team and position
will be based at the Company’s headquarters in Thousand Oaks, and that you are
willing to commute there as required, and as requested by the CEO. It is also
understood that unless and until Nexsan opens an office in the
Washington/Baltimore area, you may also operate out of your home office in
Maryland when conducting non-travel work related business activities. The
Company will pay for your reasonable travel and lodging expenses to travel to
Thousand Oaks on business unless you choose to relocate your home to within
reasonable driving distance of Nexsan’s Thousand Oaks offices. There will be
considerable additional travel associated with this position. It is understood
that there will be travel at regular intervals and occasionally non-regular
intervals for the purpose of managing staff, supporting existing business
relationships, creating new business relationships, and other activities
related to the job role described above.

 

2.             Compensation.  Your
base compensation will consist of an annual salary of $225,000 (Two hundred
twenty five thousand dollars) per annum minus any applicable withholdings. Base
salary will be paid in the manner that Nexsan typically pays its employees,
which currently is every two weeks (26 pay periods per year).

 

In addition you will receive variable
compensation of an on-target amount of an additional $225,000 (Two hundred
twenty five thousand dollars) per annum, payable quarterly in arrears. This
compensation will be based on product sales, sales growth and performance objectives
as defined by myself and the Compensation Committee of the Board. For the first
six months of employment, variable cash compensation will be guaranteed at no
less than 80% of on-target achievement.

 

3.             Stock Options. 
I will recommend to the Nexsan Board of Directors that a grant of stock
options equating to 1.5% of the fully diluted shares outstanding at date of
grant be allocated to you. Nexsan’s Board of Directors has sole discretion in
granting stock options and for participation in the Nexsan employee stock
option plan. Twenty five percent (25%) of your stock options would vest on the
first anniversary of the grant date. The remaining seventy five percent (75%)
would vest rateably and quarterly over the three year period following the
first anniversary of the grant date. In the event of the sale of Nexsan all
unvested options will immediately vest. The exercise price will be fair market
value as determined by the Board of Directors. A copy of the stock option
agreement and the stock option plan are attached.

 

4.             Benefits.  Included
in the compensation package, you will be able to participate in the following
benefits on your date of hire afforded a regular, full-time employee. These
benefits are continually under review and are subject to change:

 

2

 

·      Medical
insurance

·      Dental
insurance

·      401K retirement
plan

·      Short-term
disability insurance

·      Long-term
disability insurance

·      Life insurance

·      Company
reimbursement for mobile phone usage.

·      Fifteen (15)
working days of vacation/PTO during the calendar year. The amount of
vacation/PTO time available to you during your first year is determined
pro-ratio based on the number of days of employment completed by you during the
year.

·      Nexsan approved
holidays.

·      While a car
allowance is not part of your package, the use of your vehicle for company
business is reimbursed on a mileage basis in accordance with Nexsan’s standard
policies.

·      In addition you
will be reimbursed for all company authorized business expenditures that are in
accordance with Company policy, as those policies may currently exist or be
modified from time to time. Examples of the type of expenses that are covered
for reimbursement are, company authorized travel, plane fare, hotels, personal
meals while traveling and meals and or expenses associated with customer and or
sales related activities. Additionally, office expenses such as phone fax and
reasonable supplies are reimbursable.

 

5.             Confidentiality.  As an employee of the Company, you will have
access to certain confidential information of the Company and you may, during
the course of your employment, develop certain information or inventions that
will be the property of the Company. To protect the interests of the Company,
you will need to sign the Company’s standard “Employee Invention Assignment and
Confidentiality Agreement” as a condition of your employment. A copy of this
agreement is attached. We wish to impress upon you that we do not want
you to, and we hereby direct you not to, bring with you any confidential or
proprietary material of any former employer or to violate any other obligations
you may have to any former employer. During the period that you render services
to the Company, you agree to not engage in any employment, business or activity
that is in any way competitive with the business or proposed business of the
Company. You will disclose to the Company in writing any other gainful
employment, business or activity that you are currently associated with or
participate in that competes with the Company. You will not assist any other
person or organization in competing with the Company or in preparing to engage
in competition with the business or proposed business of the Company. You
represent that your signing of this i) offer letter; ii) agreement(s) concerning
stock options granted to you, if any, under the Plan (as defined below); and
iii) the Company’s Employee Invention.

 

Assignment
and Confidentiality Agreement and your commencement of employment with the
Company will not violate any agreement currently in place between yourself and
current or past employers.

 

6.             At
Will Employment.  While we look forward to a long and
profitable relationship, should you decide to accept our offer, you will be an
at-will employee of the 

 

3

 

Company, which means the
employment relationship can be terminated by either of us for any reason, at
any time, with or without prior notice and with our without cause. Any
statements or representations to the contrary (and, indeed, any statements
contradicting any provision in this letter) should be regarded by you as
ineffective. Further, your participation in any stock option or benefit program
is not to be regarded as assuring you of continuing employment for any
particular period of time. Any modification or change in your at will
employment status may only occur by way of a written employment agreement
signed by you and an Executive of the Company.

 

7.             Severance
Payments.  If you terminate your
employment for Good Reason (as defined below) following a Change of
Control of the Company (as defined below) or if your employment is terminated
by the Company without Cause (as defined below), you will

 

(i)            receive 6 months of base salary
continuation payable per the Company’s normal pay periods, provided, however,
that if you are a “specified employee” (as determined in accordance with
Treasury Regulation Section 1.409A-1(i) or any written Company policy
implementing such regulation) at the time of your termination of employment,
then the total amount of the base salary continuation payments that is
otherwise payable to your during the six-month period following your
termination of employment shall be reduced if necessary so that the total
amount of base salary continuation payments during such six-month period does
not exceed the amount described in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A) and
the amount, if any, by which your base salary continuation payments are reduced
pursuant to this provision shall be paid to you in a lump sum payment six months
after your termination of employment,

 

(ii)           receive variable based cash compensation
for two quarters paid at the time such compensation would have been paid if you
had remained in employment with the Company, each quarter equal to the average
amount per quarter you received over the prior four quarters, and

 

(iii)          continue to participate in the Company’s
benefit plans (other than any tax qualified retirement plan or any deferred
compensation plan) for a period of 6 months following your termination of employment.

 

For
purposes of this Section 7, a termination of employment means a separation
from service (as defined in regulations under Section 409A of the Internal
Revenue Code of 1986, as amended).

 

“Cause” means (i) an unauthorized use or disclosure of the
Company’s confidential information or trade secrets, which use or disclosure
causes material harm to the Company, (ii) a material breach of any
agreement between you and the Company, (iii) a material failure to comply
with the Company’s written policies or rules of which you had notice, (iv) commission
of a felony under the laws of the United States or any state thereof or a
misdemeanor involving moral turpitude, (v) a failure to perform assigned
duties after receiving written notification of such failure from the CEO,
provided that such assigned duties are commensurate with your position as Chief
Commercial Officer and are reasonable in nature, (vi) irresponsible, 

 

4

 

unauthorized acts or any willful misconduct, gross
negligence or willful failure to act which has, or can reasonably be expected
to have, a material adverse effect on the business, financial condition or
performance, reputation or prospects of the Company, or (vii) any other
errors, acts or omissions which constitute cause under applicable state law.

 

“Change
of Control” or “COC” means any of the
following events: A sale of all or substantially all of Holdings’ or the
Company’s assets. Any person or entity acquiring more than 50% of Holdings’ or
the Company’s common and preferred stock, other than a person who is a
then-current Major Shareholder. (For purposes of this definition, a Major
Shareholder shall be Beechtree Capital and its associated Nexsan investors,
VPVP, RRE or GESFID and their respective affiliates, or any other person or
entity controlled, directly or indirectly, by such Major Shareholder.)

 

“Good Reason” means a material
diminution in your base salary or a material diminution in your authority,
duties or responsibilities; provided, however, that an act or omission will not
constitute Good Reason unless (i) you give the Company (or its
successor) written notice of the act or omission claimed to constitute Good
Reason within ninety (90) days after the occurrence or failure that you claim
constitutes Good Reason, (ii) the Company or its successor fails to remedy
the act or omission claimed to constitute Good Reason within thirty (30) days
of the Company or its successor receives such notice and (iii) you
terminate your employment within twelve (12) months after the act or omission
that constitutes Good Reason.

 

8.             Authorization to Work.  Please note that because of employer
regulations adopted in the Immigration Reform and Control Act of 1986, within
three (3) business days of starting your new position you will need to
present documentation demonstrating that you have authorization to work in the
United States. If you have questions about this requirement, which applies to
U.S. citizens and non-U.S. citizens alike, you may contact our personnel
office.

 

9.             Arbitration.  You and the Company shall submit
to mandatory and exclusive binding arbitration of any controversy or claim
arising out of, or relating to, this Agreement or any breach hereof,

 

provided however, that the parties retain
their right to, and shall not he prohibited, limited or in any other way
restricted from, seeking or obtaining equitable relief from a court having
jurisdiction over the parties. Such arbitration shall be governed by the
Federal Arbitration Act and conducted through the American Arbitration
Association in the State of California, Ventura County, before a single neutral
arbitrator, in accordance with the National Rules for the Resolution of
Employment Disputes of the American Arbitration Association in effect at that
time. The parties may conduct only essential discovery prior to the hearing, as
defined by the AAA arbitrator. The arbitrator shall issue a written decision
that contains the essential findings and conclusions on which the decision is
based. You shall bear only those costs of arbitration you would
otherwise bear had you brought a claim covered by this Agreement in court.
Judgment upon the determination or award rendered by the arbitrator may be
entered in any court having jurisdiction thereof.

 

10.          Acceptance.  If
you decide to accept our offer, and I hope you will, please sign below in the
space indicated and return it to me via email or via our confidential fax at 

 

5

 

818-936-0159. Your signature will acknowledge that you have read
and understood and agreed to the terms and conditions of this offer letter and
the attached documents, if any. Should you have anything else that you wish to
discuss, please do not hesitate to call me.

 

We are looking forward to you joining one of the
most dynamic teams in our industry that without your participation will not be the
same.

 

Yours sincerely,

 

 

Philip Black 

CEO

 

I have read and understood this offer letter
and hereby acknowledge, accept and agree to the terms as set forth above and
further acknowledge that no other commitments were made to me as part of my
employment offer except as specifically set forth herein.

 

 

	
  /s/ Michael McGuire

  	
   

  	
  Date signed: 

  	
  10/24/2008

  
	
  Mr. Michael McGuire

  	
   

  	
   

  

 

6

 

[Nexsan Technologies Logo]

 

January 20, 2010 

Michael McGuire

 

Dear Mike,

 

Per our discussion, you hereby agree that the
following provision will amend your Offer Letter dated October 22, 2008 (the “Agreement”) with Nexsan
Technologies, Inc. (the “Company”)
and will be inserted as new Section 8, with each of the sections of the
Agreement that follow new Section 8 to be sequentially renumbered:

 

8.             Non-Solicitation: For a one-year period following Executive’s
termination of employment with the Company, Executive shall be prohibited from
directly or indirectly soliciting individuals or entities that are end user
customers, channel partners or employees of the Company, Nexsan Corporation or
any of its principal subsidiaries, from ceasing or diminishing their
relationship or level of business with the Company, Nexsan Corporation or any
its principal subsidiaries.

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Philip Black

  
	
   

  	
   

  
	
   

  	
  Philip Black

  
	
   

  	
  CEO

  

 

I have read and understood this amendment to the offer letter and
hereby acknowledge, accept and agree to the terms as set forth above and
further acknowledge that no other commitments were made to me as part of my
employment offer except as specifically set forth herein.

 

 

	
  /s/
  Michael McGuire

  	
   

  	
  Date Signed:

  	
  1/20/2010

  
	
  Michael McGuireFiled by sedaredgar.com - Pengram Corporation - Exhibit 10.1

	PENGRAM CORPORATION 
	1200 Dupont Street, Suite 2J 
	Bellingham, WA 98225 
	Tel: (360)
      255-3436 / Fax: (360) 925-2833 

November 2, 2009 

AGUS ABIDIN 
Manado Quality Hotel
Jl. Piere
Tendean No. 88-89 
Boulevard Manado, 95114 
North Sulawesi, Indonesia

Dear Sirs: 

Re: Option to Acquire Manado Gold Property

This will confirm our understanding with respect to an option
to be granted to Pengram Corporation (“Pengram”) to acquire interests in the
four mineral concessions in the Lobongan District of Northern Sulawesi,
Indonesia, as set out below and as more particularly outlined in Schedule A:

	A. 	
      Bangkit Limpoga Jaya;

	B. 	
      Hakian Wellem Rumansi;

	C. 	
      Ratok Mining; and

	D. 	
      Manembo Mineral.

The concessions are hereinafter referred to collectively as the
“Concessions.” The owners of the concessions are hereinafter referred to as the
"Concession Owners." 

1.         
 Concession Owners Representations 

You have represented to us as follows: 

	1.1 	
      You own the Concessions or have been authorized to act on
      behalf of the Concession Owners and have the authority to deal with the
      Concessions in the manner contemplated by this letter agreement.

	 	 
	1.2 	
      The Concessions are in good standing.

	 	 
	1.3 	
      The Concessions cover the area where Newmont Minahasa
      Raya drilled 273 holes as more particularly described in the Report of
      Glenn White and Iip Hardjana dated January 1993.

	 	 
	1.4 	
      There are no liens, charges or encumbrances on the
      Concessions.

	 	 
	1.5 	
      There is no impediment or restriction that would prevent
      conducting exploration or development work on the Concessions other than
      requirements to obtain government permits or approvals under applicable
      Indonesian mining laws.

2.         
 Pengram Representations 

Pengram has represented to you as follows: 

	Pengram Corporation 	2 
	  	  
	Mr. Agus Abidin 	  
	November 2, 2009
    	  

	2.1 	
      Pengram is a company incorporated under the laws of the
      State of Nevada and is in good standing under the laws of its jurisdiction
      of incorporation.

	 	 	 	 
	2.2 	
      Pengram is a reporting company under the United States
      Securities Exchange Act of 1934 (the “Act”) and is in good standing with
      respect to its filings under the Act.

	 	 	 	 
	2.3 	
      There have been no material adverse changes to Pengram
      since its most recent filing of its Quarterly Report on Form 10-Q for the
      nine months ended August 31, 2009 filed with the United States Securities
      and Exchange Commission on October 20, 2009.

	 	 	 	 
	2.4 	
      Pengram's common shares are quoted on the OTC Bulletin
      Board under the symbol "PNGM.”

	 	 	 	 
	3. 	
      Option

	 	 	 	 
	3.1 	
      In consideration of $35,000 USD to be paid on execution
      of this Agreement, you have agreed to grant Pengram the exclusive right,
      for a period of 90 days from the date of execution of this Agreement (the
      "Due Diligence Period") to enter into an acquisition agreement (the
      "Acquisition Agreement") to acquire up to an 85% undivided interest in the
      Concessions on the terms and conditions described under the heading
      "Acquisition Agreement" below.

	 	 	 	 
	3.2 	
      At any time prior the expiration of the Due Diligence
      Period, Pengram may elect, by notice in writing, to exercise its option to
      enter into the Acquisition Agreement. The parties will use their best
      efforts during the 30 day period following such notice to prepare the
      formal Acquisition Agreement.

	 	 	 	 
	3.3 	
      During the Due Diligence Period, the Concession Owners
      will permit Pengram's duly authorized representatives to enter onto the
      Concessions, take samples and conduct such other activities as may be
      necessary to conduct proper due diligence. The Concession Owners will
      provide Pengram's representatives with all data, title documents, reports
      or other information that the Concession Owners have in their possession
      relating to the Concessions and will assist Pengram as necessary to permit
      it to complete its due diligence. The Concession Owners will provide
      Pengram's representatives with such information about themselves as may be
      necessary for Pengram to determine their title to the Concessions and that
      the Concessions are free of liens, charges or encumbrances.

	 	 	 	 
	4. 	
      Acquisition Agreement

	 	 	 	 
	4.1 	
      The Acquisition Agreement shall provide for the earning
      of interests by Pengram in the Concessions by making the cash payments,
      share issuances and completing work programs as follows:

	 	 	 	 
		I) 	
      a 10% undivided interest by:

	 	 	 	 
			a) 	
      paying $90,000 USD to the Concession Owners on execution
      of the Acquisition Agreement;

	 	 	 	 
			b) 	
      issuing 150,000 common shares of Pengram to the
      Concession Owners on execution of the Acquisition Agreement; and

	 	 	 	 
			c) 	
      completing a mineral exploration program at a cost of not
      less than $250,000 within one year of execution of the Acquisition
      Agreement.

	Pengram Corporation 	3
	  	  
	Mr. Agus Abidin 	  
	November 2, 2009
    	  

	 	II) 	
      an additional 15% undivided interest by:

	 	 	 	 
	 		a) 	
      paying $100,000 to the Concession Owners on the 1st
      anniversary of execution of the Acquisition Agreement;

	 	 	 	 
	 		b) 	
      issuing 300,000 common shares of Pengram to the
      Concession Owners on the 1st anniversary of the execution of
      the Acquisition Agreement; and

	 	 	 	 
	 		c) 	
      completing additional mineral exploration programs at a
      cost of not less than $500,000 prior to the 2nd anniversary of
      the Acquisition Agreement.

	 	 	 	 
	 	III) 	
      an additional 26% undivided interest by:

	 	 	 	 
	 		a) 	
      paying $200,000 to the Concession Owners on the 2nd
      anniversary of execution of the Acquisition Agreement;

	 	 	 	 
	 		b) 	
      issuing 500,000 common shares of Pengram to the
      Concession Owners on the 2nd anniversary of the execution of
      the Acquisition Agreement; and

	 	 	 	 
	 		c) 	
      completing additional mineral exploration programs at a
      cost of not less than $1,000,000 prior to the 3rd anniversary
      of the Acquisition Agreement.

	 	 	 	 
	 	IV) 	
      an additional 34% undivided interest on completion of a
      scoping study.

	4.2 	
      Upon Pengram earning an 85% interest as outlined above,
      the Concession Owners shall be carried and shall not be obligated to pay
      their proportionate share of the costs to complete a feasibility study and
      to place the property into commercial production; however, Pengram will
      have the right to pledge the Concession Owners' share of the property to
      obtain production financing.

	 	 
	4.3 	
      On completion of a feasibility study, Pengram shall have
      the option to acquire the Concession Owners' 15% carried interest for a
      cash payment of $5,000,000.

	 	 
	4.4 	
      The Acquisition Agreement shall include an area of mutual
      interest of 5 kilometers within which any properties acquired by the
      Concession Owners will be subject to a right of first refusal in favor of
      Pengram.

	 	 
	4.5 	
      During the term of the Acquisition Agreement, Pengram
      will be obligated to pay all government filing or assessment fees
      necessary to keep the Concessions in good standing.

	 	 
	4.6 	
      The Acquisition Agreement will be an option only and may
      be terminated by Pengram on 60 days notice. If the Acquisition Agreement
      is terminated, Pengram shall only be entitled to the interest it has
      earned to the termination date.

	 	 
	4.7 	
      The Acquisition Agreement shall contain other customary
      terms and provisions consistent with industry practices.

	 	 
	5. 	
      Exclusivity

	 	 
	5.1 	
      In consideration of the $35,000 payment described in
      paragraph 3.1 above and Pengram agreeing to undertake the costs and
      expenses of conducting due diligence, the Concession Owners agree that,
      during the Due Diligence Period, they will not seek or solicit, or engage
      anyone to seek or solicit, other suitors for a sale or joint venture of
      the Concessions, will not

	Pengram Corporation 	4
	  	  
	Mr. Agus Abidin 	  
	November 2, 2009
    	  

		
      negotiate with other persons for a sale or joint venture
      of the Concessions, and will not make available to other potential suitors
      information concerning the Concessions.

	 	 
	6. 	
      Counterparts

	 	 
	6.1 	
      This letter of intent may be executed in one or more
      counterparts, each of which so executed shall constitute an original and
      all of which together shall constitute one and the same letter of
      intent.

If the foregoing is in accordance with your understanding of
our agreements, please sign where indicated below. 

Yours truly, 

PENGRAM CORPORATION 

	Per: 	/s/ Richard W. Donaldson
    	 
	  		   
      signed January 19, 2010 
	  	Richard W. Donaldson 	 
	  	President and Chief Executive
      Officer 	 

 

Agreed and accepted as of the ____ day of
______________________, 2009. 

 

/s/ Agus Abidin 
_____________________________

AGUS ABIDIN

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