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TABLE OF
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      Exhibit
10.4

       

      REGISTRATION
RIGHTS AGREEMENT

       

      This
Registration Rights Agreement (this “ Agreement ”) is made and
entered into as of October 29, 2009, by and among Secure America Acquisition
Corporation, a Delaware corporation (the “ Company ”), and the investors
listed on Schedule A
hereto (the “ Investors
”).

       

      WHEREAS,
the Company, Ultimate Escapes Holdings, LLC, a Delaware limited liability
company (the “ LLC ”),
Ultimate Resort Holdings, LLC, a Delaware limited liability company and the
member representative, have entered into a Contribution Agreement, dated as of
September 2, 2009 (the “ Contribution Agreement ”),
pursuant to which the Company will receive Membership Interests in the LLC in
exchange for the Contributed Property, as defined therein;

       

      WHEREAS,
pursuant to and in accordance with the terms and provisions of the Amended and
Restated Operating Agreement of the LLC (the “ Operating Agreement ”), the
Investors have certain rights with respect to conversion of their Membership
Interests into capital stock of the Company; and

       

      WHEREAS,
one of the conditions to the consummation of the transactions contemplated by
the Contribution Agreement is the execution and delivery of this
Agreement.

       

      The
Company and the Investors hereby agree as follows:

       

      1. Definitions.

       

      Capitalized
terms used and not otherwise defined herein shall have the meanings given such
terms in the Contribution Agreement. As used in this Agreement, the following
terms shall have the following meanings:

       

      “ Advice ” shall have meaning
set forth in Section 3(m).

       

      “ Affiliate ” means, with
respect to any Person, any other Person that directly or indirectly controls or
is controlled by or under common control with such Person. For the purposes of
this definition, “ control ,” when used with
respect to any Person, means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities, by contract or otherwise;
and the terms of “ affiliated ,” “ controlling ” and “ controlled ” have meanings
correlative to the foregoing.

       

      “ Board ” shall have meaning set
forth in Section 3(n).

       

      “ Business Day ” means any day
except Saturday, Sunday and any day which shall be a legal holiday or a day on
which banking institutions in the state of New York generally are authorized or
required by law or other government actions to close.

       

      “ Closing Date ” means the date
of the closing of the transactions contemplated by the Contribution
Agreement.

       

      “ Commission ” means the
Securities and Exchange Commission.

       

      “ Common Stock ” means the
Company’s Common Stock, par value $0.0001 per share.

       

      “ Effectiveness Period ” shall
have the meaning set forth in Section 2.

       

      “ Exchange Act ” means the
Securities Exchange Act of 1934, as amended.

       

      “ Filing Date ” means the date
that is eight (8) months following the Closing Date.

       

      “ Holder ” or “ Holders ” means each of the
Investors and any transferee of any of them to whom Registrable Securities have
been transferred in accordance with Section 7(e) of this Agreement, other than a
transferee to whom Registrable Securities have been transferred pursuant to a
Registration Statement under the Securities Act or Rule 144 or Regulation S
under the Securities Act (or any successor rule thereto).

       

      “ Indemnified Party ” shall have
the meaning set forth in Section 5(c).

       

      “ Indemnifying Party ” shall
have the meaning set forth in Section 5(c).

      
        
           

        

        
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      “ Losses ” shall have the
meaning set forth in Section5(a).

       

      “ Person ” means an individual
or a corporation, partnership, trust, incorporated or unincorporated
association, joint venture, limited liability company, joint stock company,
government (or an agency or political subdivision thereof) or other entity of
any kind.

       

      “ Proceeding ” means an action,
claim, suit, investigation or proceeding (including, without limitation, an
investigation or partial proceeding, such as a deposition), whether commenced or
threatened.

       

      “ Prospectus ” means the
prospectus included in the Registration Statement (including, without
limitation, a prospectus that includes any information previously omitted from a
prospectus filed as part of an effective registration statement in reliance upon
Rule 430A promulgated under the Securities Act), as amended or supplemented by
any prospectus supplement, with respect to the terms of the offering of any
portion of the Registrable Securities covered by the Registration Statement, and
all other amendments and supplements to the Prospectus, including post-effective
amendments.

       

      “ Registration Expenses ” shall
mean all expenses incurred by the Company in compliance with Section 2 hereof,
including, without limitation, all registration and filing fees, printing
expenses, fees and disbursements of counsel for the Company, blue sky fees and
expenses and the expense of any special audits incident to or required by any
such registration (but excluding the compensation of regular employees of the
Company, which shall be paid in any event by the Company).

       

      “ Registrable Securities ” means
the shares of Common Stock issued pursuant to the Operating Agreement; provided, however , that such
shares of Common Stock shall no longer be deemed Registrable Securities if
either (i) such shares have been sold pursuant to an effective Registration
Statement or pursuant to Rule 144 or (ii) such shares may be sold without
restriction under Rule 144.

       

      “ Registration Statement ” means
the registration statement and any additional registration statements
contemplated by Sections 2 or 3, including (in each case) the Prospectus,
amendments and supplements to such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all
material incorporated by reference in such registration statement.

       

      “ Rule 144 ” means Rule 144
promulgated by the Commission pursuant to the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission having substantially the same effect as such
Rule.

       

      “ Rule 158 ” means Rule 158
promulgated by the Commission pursuant to the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission having substantially the same effect as such
Rule.

       

      “ Rule 415 ” means Rule 415
promulgated by the Commission pursuant to the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission having substantially the same effect as such
Rule.

       

      “ Securities Act ” means the
Securities Act of 1933, as amended.

       

      “ Selling Expenses ” shall mean,
with respect to a given Holder, all underwriting discounts and selling
commissions applicable to the sale of the Registrable Securities of such Holder
and all fees and disbursements of counsel to such Holder.

       

      2. Shelf
Registration.

       

      The
Company shall use commercially reasonable efforts to prepare and file with the
Commission as soon as practicable after the Closing Date (but in any event by
the Filing Date), a “shelf” Registration Statement covering the resale of all
Registrable Securities for an offering to be made on a continuous basis pursuant
to Rule 415. The Registration Statement shall be on Form S-3 (except if the
Company is not then eligible to register for resale the Registrable Securities
on Form S-3, in which case such registration shall be on another appropriate
form in accordance herewith). The Company shall use its commercially reasonable
efforts to cause the Registration Statement to be declared effective under the
Securities Act as promptly as possible after the filing thereof, and to keep
such Registration Statement continuously effective under the Securities Act
until such date as is the earlier of (x) the date when all Registrable
Securities covered by such Registration Statement have been sold or (y) the date
on which the Registrable Securities may be sold without any restriction pursuant
to Rule 144 as determined by the counsel to the Company pursuant to a written
opinion letter, addressed to the Company’s transfer agent to such effect (the “
Effectiveness Period
”).

      
        
           

        

        
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      3. Registration
Procedures.

       

      In
connection with the Company’s registration obligations hereunder, the Company
shall:

       

      (a) Use
commercially reasonable efforts to prepare and file with the Commission, as soon
as practicable following the Closing Date (but in any event on or prior to the
Filing Date), a Registration Statement on Form S-3 (or if the Company is not
then eligible to register for resale the Registrable Securities on Form S-3 such
registration shall be on another appropriate form in accordance herewith)
including the method or methods of distribution thereof as specified by the
Holders (except if otherwise directed by the Holders) and in accordance with
applicable law, and cause the Registration Statement to become effective and
remain effective as provided herein; provided, however , that not
less than five (5) Business Days prior to the filing of the Registration
Statement or any related Prospectus or any amendment or supplement thereto, the
Company shall (i) furnish to the Holders, copies of all such documents proposed
to be filed, which documents will be subject to the review of such Holders, and
(ii) cause its officers and directors, counsel and independent certified public
accountants to respond to such inquiries as shall be necessary, in the
reasonable opinion of counsel to such Holders, to conduct a reasonable review of
such documents. The Company shall not file the Registration Statement or any
such Prospectus or any amendments or supplements thereto to which the Holders of
a majority of the Registrable Securities shall reasonably object in writing
within five (5) Business Days of their receipt thereof.

       

      (b) (i)
Prepare and file with the Commission such amendments, including post-effective
amendments, to the Registration Statement as may be necessary to keep the
Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission
such additional Registration Statements in order to register for resale under
the Securities Act all of the Registrable Securities; (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement,
and as so supplemented or amended to be filed pursuant to Rule 424 (or any
similar provisions then in force) promulgated under the Securities Act; (iii)
respond as promptly as possible to any comments received from the Commission
with respect to the Registration Statement or any amendment thereto and as
promptly as possible provide the Holders true and complete copies of all
correspondence from and to the Commission relating to the Registration
Statement; and (iv) comply in all material respects with the provisions of the
Securities Act and the Exchange Act with respect to the disposition of all
Registrable Securities covered by the Registration Statement during the
applicable period in accordance with the intended methods of disposition by the
Holders thereof set forth in the Registration Statement as so amended or in such
Prospectus as so supplemented.

       

      (c)
Notify the Holders of Registrable Securities as promptly as possible (i)(A) when
a Prospectus or any Prospectus supplement or post-effective amendment to the
Registration Statement is filed; (B) when the Commission notifies the Company
whether there will be a “review” of such Registration Statement and whenever the
Commission comments in writing on such Registration Statement and (C) with
respect to the Registration Statement or any post-effective amendment, when the
same has become effective; (ii) of any request by the Commission or any other
Federal or state governmental authority for amendments or supplements to the
Registration Statement or Prospectus or for additional information; (iii) of the
issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement covering any or all of the Registrable Securities or the
initiation or threatening of any Proceedings for that purpose; (iv) of the
receipt by the Company of any notification with respect to the suspension of the
qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation of any Proceeding for
such purpose; and (v) of the occurrence of any event that makes any statement
made in the Registration Statement or Prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to the Registration Statement, Prospectus or other
documents so that, in the case of the Registration Statement or the Prospectus,
as the case may be, it will not contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
were made, not misleading.

      
        
           

        

        
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      (d) Use
its commercially reasonable efforts to avoid the issuance of, or, if issued,
obtain the withdrawal of, as promptly as possible, (i) any order suspending the
effectiveness of the Registration Statement or (ii) any suspension of the
qualification (or exemption from qualification) of any of the
RegistrableSecurities for sale in any jurisdiction.

       

      (e) If
requested by the Holders of a majority in interest of the Registrable
Securities, (i) promptly incorporate in a Prospectus supplement or
post-effective amendment to the Registration Statement such information as the
Company reasonably agrees should be included therein and (ii) make all required
filings of such Prospectus supplement or such post-effective amendment as soon
as practicable after the Company has received notification of the matters to be
incorporated in such Prospectus supplement or post-effective
amendment.

       

      (f) If
requested by any Holder, furnish to such Holder, without charge, at least one
conformed copy of each Registration Statement and each amendment thereto,
including financial statements and schedules, all documents incorporated or
deemed to be incorporated therein by reference, and all exhibits to the extent
requested by such Person (including those previously furnished or incorporated
by reference) promptly after the filing of such documents with the
Commission.

       

      (g)
Promptly deliver to each Holder, without charge, as many copies of the
Prospectus or Prospectuses (including each form of prospectus) and each
amendment or supplement thereto as such Persons may reasonably request; and
subject to the provisions of Section 3(m), the Company hereby consents to the
use of such Prospectus and each amendment or supplement thereto by each of the
selling Holders in connection with the offering and sale of the Registrable
Securities covered by such Prospectus and any amendment or supplement
thereto.

       

      (h) Prior
to any public offering of Registrable Securities, use its commercially
reasonable efforts to register or qualify or cooperate with the selling Holders
in connection with the registration or qualification (or exemption from such
registration or qualification) of such Registrable Securities for offer and sale
under the securities or Blue Sky laws of such jurisdictions within the United
States as any Holder requests in writing, to keep each such registration or
qualification (or exemption therefrom) effective during the Effectiveness Period
and to do any and all other acts or things reasonably necessary or advisable to
enable the disposition in such jurisdictions of the Registrable Securities
covered by a Registration Statement; provided, however , that the
Company shall not be required to qualify generally to do business in any
jurisdiction where it is not then so qualified or to take any action that would
subject it to general service of process in any such jurisdiction where it is
not then so subject or subject the Company to any material tax in any such
jurisdiction where it is not then so subject.

       

      (i)
Cooperate with the Holders to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold pursuant to a
Registration Statement, which certificates, to the extent permitted by
applicable federal and state securities laws, shall be free of all restrictive
legends, and to enable such Registrable Securities to be in such denominations
and registered in such names as any Holder may request in connection with any
sale of Registrable Securities.

       

      (j) Upon
the occurrence of any event contemplated by Section 3(c)(v), as promptly as
possible, prepare a supplement or amendment, including a post-effective
amendment, to the Registration Statement or a supplement to the related
Prospectus or any document incorporated or deemed to be incorporated therein by
reference, and file any other required document so that, as thereafter
delivered, neither the Registration Statement nor such Prospectus contain an
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

       

      (k) Use
its commercially reasonable efforts to cause all Registrable Securities relating
to such Registration Statement to be listed on the Nasdaq Stock Market or any
other securities exchange, quotation system or market, if any, on which similar
securities issued by the Company are then listed.

      
        
           

        

        
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      (l)
Comply in all material respects with all applicable rules and regulations of the
Commission and make generally available to its security holders earning
statements satisfying the provisions of Section 11(a) of the Securities Act and
Rule 158 not later than 45 days after the end of any 12-month period (or 90 days
after the end of any 12-month period if such period is a fiscal year) commencing
on the first day of the first fiscal quarter of the Company after the effective
date of the Registration Statement, which statement shall conform to the
requirements of Rule 158.

       

      (m) Be
permitted to require each selling Holder to furnish to the Company information
regarding such Holder and the distribution of such Registrable Securities as is
required by law to be disclosed in the Registration Statement, Prospectus, or
any amendment or supplement thereto, and the Company may exclude from such
registration the Registrable Securities of any such Holder who unreasonably
fails to furnish such information within ten (10) Business Days after receiving
such request, provided,
however ; that the Company shall amend such registration statement to
include such Holder within ten (10) Business Days of receiving such information
from the Holder.

       

      Each
Holder covenants and agrees that (i) it will not sell any Registrable Securities
under the Registration Statement until it has received copies of the Prospectus
as then amended or supplemented as contemplated in Section 3(g) and notice from
the Company that such Registration Statement and any post-effective amendments
thereto have become effective as contemplated by Section 3(c) and (ii) it and
its officers, directors or Affiliates, if any, will comply with the prospectus
delivery requirements of the Securities Act as applicable to them in connection
with sales of Registrable Securities pursuant to the Registration
Statement.

       

      Each
Holder agrees by its acquisition of such Registrable Securities that, upon
receipt of a notice from the Company of the occurrence of any event of the kind
described in Section 3(c)(ii), 3(c)(iii), 3(c)(iv), 3(c)(v) or 3(n), such Holder
will forthwith discontinue disposition of such Registrable Securities under the
Registration Statement until such Holder’s receipt of the copies of the
supplemented Prospectus and/or amended Registration Statement contemplated by
Section 3(j), or until it is advised in writing (the “ Advice ”) by the Company that
the use of the applicable Prospectus may be resumed, and, in either case, has
received copies of any additional or supplemental filings that are incorporated
or deemed to be incorporated by reference in such Prospectus or Registration
Statement.

       

      (n) If
(i) there is material non-public information regarding the Company which the
Company’s Board of Directors (the “ Board ”) reasonably determines
not to be in the Company’s best interest to disclose and which the Company is
not otherwise required to disclose, or (ii) there is a significant business
opportunity (including, but not limited to, the acquisition or disposition of
assets (other than in the ordinary course of business) or any merger,
consolidation, tender offer or other similar transaction) available to the
Company which the Board reasonably determines not to be in the Company’s best
interest to disclose, then the Company may postpone or suspend filing or
effectiveness of a registration statement for a period not to exceed twenty (20)
consecutive days.

       

      4. Registration
Expenses.

       

      All
Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to this Agreement shall be borne by the
Company, and any and all Selling Expenses of a given Holder shall be borne by
such Holder.

       

      5. Piggyback Registration
Rights.

       

      (a) If
there is not an effective registration covering all of the Registrable
Securities and the Company shall determine to prepare and file with the
Commission a registration statement relating to an offering for its own account
or the account of others under the Securities Act of any of its equity
securities, other than pursuant to (i) a registration statement on Forms S-4 or
S-8 (each as promulgated under the Securities Act) or any successor or
substantially similar forms, (ii) a registration on any form that does not
permit secondary sales, or (iii) a registration statement relating to secondary
sales of any securities purchased from the Company in a private placement for
cash in which the registration rights agreement entered into by the Company in
connection therewith prohibits the inclusion of the Registrable Securities in
such registration statement (provided that the Company will use commercially
reasonable efforts not to restrict the Holders’ registration rights hereunder),
it will give written notice (a “ Registration Notice ”) to the
Holders of such intention and, if within ten (10) days of the Holders’ receipt
of such Registration Notice, the Holders provide the Company with a written
request to participate in such registration, then the Company, subject to
Section 5(b) below, will use its best efforts to include in such registration,
and in any underwriting involved therein, all of the Registrable Securities
included in such request (a “ Piggyback Registration ”).
Notwithstanding anything to the contrary contained herein, the Company shall
have no obligation to register Registrable Securities pursuant to this Section 5
to the extent that the sale of such securities is deemed to be a primary
underwritten offering by the Company.

      
        
           

        

        
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      (b) Underwritten Offerings
..  (i) In the case of an underwritten offering by the Company of
securities, the Holders shall, with respect to Registrable Securities that the
Holders then desire to sell, enter into an underwriting agreement with the same
underwriters engaged by the Company with respect to securities being offered by
the Company, and the Company shall cause such underwriters to include in any
such underwriting all of the Registrable Securities that the Stockholder then
desires to sell, subject to paragraph (ii) below; provided, however , that such
underwriting agreement is in substantially the same form as the underwriting
agreement that the Company enters into in connection with the primary offering
it is making. If the Stockholder disapproves of the terms of any such
underwriting, the Stockholder may elect to withdraw therefrom by written notice
to the Company and the managing underwriter. Any Registrable Securities excluded
or withdrawn from such underwriting shall be withdrawn from such registration.
The Company shall not be required to include in such registration statement, the
Registrable Securities held by any Holder that does not accept and agree to the
terms of the underwriters selected by the Company, including the execution and
delivery of an underwriting agreement in the same form requested by such
underwriters for any other selling shareholders selling shares pursuant to such
registration statement.

       

      (ii) If
the Company decides, based on the advice of the managing underwriter with
respect to such underwritten offering, that the number of Registrable Securities
to be offered by the Company, the Holders and all other selling security holders
be reduced because of market conditions or because the offering would be
materially and adversely affected, then the Company will so notify the Holders
in writing and such Registrable Securities shall be reduced pro rata by such
amount as the managing underwriter may determine. The number of shares of
securities that are entitled to be included in the registration and underwriting
shall be allocated first to the Company for securities being sold on its own
account and as required by any other registration rights agreement entered into
prior to the date hereof; second, to the extent available, the Registrable
Securities that the Holders have requested to be included therein; and third, to
the extent available, among any other selling security holders, as nearly as
possible pro rata based on the number of securities such selling security
holders have requested to be included therein.

       

      6. Indemnification.

       

      (a) Indemnification by the
Company.   The Company shall, notwithstanding any termination
of this Agreement, indemnify and hold harmless each Holder, the officers,
directors, agents, brokers (including brokers who offer and sell Registrable
Securities as principal as a result of a pledge or any failure to perform under
a margin call of Common Stock), investment advisors and employees of each of
them, each Person who controls any such Holder (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) and the officers,
directors, agents and employees of each such controlling Person, to the fullest
extent permitted by applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, costs of preparation
and attorneys’ fees) and expenses (collectively, “ Losses ”), as incurred,
arising out of or based upon any untrue or alleged untrue statement of a
material fact contained in the Registration Statement, any Prospectus or any
form of prospectus or in any amendment or supplement thereto or in any
preliminary prospectus, or arising out of or based upon any omission or alleged
omission of a material fact required to be stated therein or necessary to make
the statements therein (in the case of any Prospectus or form of prospectus or
supplement thereto), in the light of the circumstances under which they were
made, not misleading, except to the extent, but only to the extent, that such
untrue statements or omissions arise out of or are based upon information
regarding the Holders or such other Indemnified Party furnished in writing to
the Company by a Holder expressly for use therein, which information was
reasonably relied on by the Company for use therein or to the extent that such
information relates to a Holder or such Holder’s proposed method of distribution
of Registrable Securities and was reviewed and expressly approved in writing by
a Holder expressly for use in the Registration Statement, such Prospectus or
such form of Prospectus or in any amendment or supplement thereto. The Company
shall notify the Holders promptly of the institution, threat or assertion of any
Proceeding of which the Company is aware in connection with the transactions
contemplated by this Agreement.

      
        
           

        

        
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      (b) Indemnification by Holders.
  Each Holder shall, severally and not jointly, indemnify and hold
harmless the Company, the directors, officers, agents and employees, each Person
who controls the Company (within the meaning of Section 15 of the Securities Act
and Section 20 of the Exchange Act), and the directors, officers, agents or
employees of such controlling Persons, to the fullest extent permitted by
applicable law, from and against all Losses, as incurred, arising out of or
based upon any untrue or alleged untrue statement of a material fact contained
in the Registration Statement, any Prospectus, or any form of prospectus, or in
any amendment or supplement thereto or in any preliminary prospectus, or arising
out of or based upon any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein (in
the case of any Prospectus or form of prospectus or supplement thereto), in the
light of the circumstances under which they were made, not misleading, to the
extent, but only to the extent, that such untrue statement or omission is
contained in any information so furnished in writing by such Holder or other
Indemnified Party to the Company expressly for use therein and that such
information was reasonably relied upon by the Company for use therein, or to the
extent that such information relates to such Holder or such Holder’s proposed
method of distribution of Registrable Securities and was reviewed and expressly
approved in writing by such Holder expressly for use in the Registration
Statement, such Prospectus or such form of Prospectus or any amendment or
supplement thereto. Notwithstanding anything to the contrary contained herein,
the Holders shall be liable under this Section 6(b) for only that amount as does
not exceed the net proceeds to such Holder as a result of the sale of
Registrable Securities pursuant to such Registration Statement.

       

      (c) Conduct of Indemnification
Proceedings.   If any Proceeding shall be brought or asserted
against any Person entitled to indemnity hereunder (an “ Indemnified Party ”), such
Indemnified Party promptly shall notify the Person from whom indemnity is sought
(the “ Indemnifying
Party ”) in writing, and the Indemnifying Party shall be entitled to
assume the defense thereof, including the employment of counsel reasonably
satisfactory to the Indemnified Party and the payment of all fees and expenses
incurred in connection with defense thereof; provided, that the failure of any
Indemnified Party to give such notice shall not relieve the Indemnifying Party
of its obligations or liabilities pursuant to this Agreement, except (and only)
to the extent that it shall be finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or further review)
that such failure shall have proximately and materially adversely prejudiced the
Indemnifying Party.

       

      An
Indemnified Party shall have the right to employ separate counsel in any such
Proceeding and to participate in the defense thereof, but the fees and expenses
of such counsel shall be at the expense of such Indemnified Party or Parties
unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
expenses; or (2) the Indemnifying Party shall have failed promptly to assume the
defense of such Proceeding and to employ counsel reasonably satisfactory to such
Indemnified Party in any such Proceeding; or (3) the named parties to any such
Proceeding (including any impleaded parties) include both such Indemnified Party
and the Indemnifying Party, and such parties shall have been advised by counsel
that a conflict of interest is likely to exist if the same counsel were to
represent such Indemnified Party and the Indemnifying Party (in which case, if
such Indemnified Party notifies the Indemnifying Party in writing that it elects
to employ separate counsel at the expense of the Indemnifying Party, the
Indemnifying Party shall not have the right to assume the defense thereof and
such counsel shall be at the expense of the Indemnifying Party). The
Indemnifying Party shall not be liable for any settlement of any such Proceeding
effected without its written consent, which consent shall not be unreasonably
withheld or delayed. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, which consent shall not be unreasonably
withheld, effect any settlement of, or consent order with respect to, any
pending or threatened Proceeding in respect of which any Indemnified Party is a
party and indemnity has been sought hereunder.

      
        
           

        

        
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      All
reasonable fees and expenses of the Indemnified Party (including reasonable fees
and expenses to the extent incurred in connection with investigating or
preparing to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred, within ten (10)
Business Days of written notice thereof to the Indemnifying Party (regardless of
whether it is ultimately determined that an Indemnified Party is not entitled to
indemnification hereunder;provided, that the Indemnified Party shall reimburse
all such fees and expenses to the extent it is finally judicially determined
that such Indemnified Party is not entitled to indemnification
hereunder).

       

      (d) Contribution.   If
indemnification under Section 6(a) or 6(b) is due but unavailable to an
Indemnified Party because of a failure or refusal of a governmental authority to
enforce such indemnification in accordance with its terms (by reason of public
policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Losses, in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party and
Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Party shall be
determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information supplied by, such Indemnifying Party or Indemnified Party, and
theparties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such action, statement or omission. The amount paid or
payable by a party as a result of any Losses shall be deemed to include, subject
to the limitations set forth in Section 6(c), any reasonable attorneys’ or other
reasonable fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for such fees or
expenses if the indemnification provided for in this Section was available to
such party in accordance with its terms.

       

      The
parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 6(d) were determined by pro rata allocation or by any
other method of allocation that does not take into account the equitable
considerations referred to in the immediately preceding paragraph. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation.

       

      The
indemnity and contribution agreements contained in this Section are in addition
to any liability that the Indemnifying Parties may have to the Indemnified
Parties pursuant to the law.

       

      7. Rule 144.

       

      As long
as any Holder owns Registrable Securities, the Company covenants to timely file
(or obtain extensions in respect thereof and file within the applicable grace
period) all reports required to be filed by the Company after the date hereof
pursuant to Section 13(a) or 15(d) of the Exchange Act. As long as any Holder
owns Registrable Securities, if the Company is not required to file reports
pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare and
furnish to the Holders and make publicly available in accordance with Rule
144(c) promulgated under the Securities Act annual and quarterly financial
statements, together with a discussion and analysis of such financial statements
in form and substance substantially similar to those that would otherwise be
required to be included in reports required by Section 13(a) or 15(d) of the
Exchange Act, as well as any other information required thereby, in the time
period that such filings would have been required to have been made under the
Exchange Act. The Company further covenants that it will take such further
action as any Holder may reasonably request, all to the extent required from
time to time to enable such Person to sell Registrable Securities without
registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 promulgated under the Securities Act, including providing
any legal opinions relating to such sale pursuant to Rule 144. Upon the request
of any Holder, the Company shall deliver to such Holder a written certification
of a duly authorized officer as to whether it has complied with such
requirements.

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      TABLE OF
CONTENTS

       

      8. Miscellaneous.

       

      (a) No Inconsistent Agreements.
  The Operating Agreement contains “lock-up” provisions which provide
that from the date hereof to the earlier of (x) the date on which the Company
consummates a transaction that results in all of its stockholders having the
right to exchange their shares of Common Stock for cash, securities or other
property, or (y) the first anniversary of the date of this Agreement, each
Investor agrees that it shall not Transfer (as such term is defined in the
Operating Agreement) any Registrable Securities it obtains, other than (a) to a
Permitted Transferee (as such term is defined in the Operating Agreement) (
provided that the
Permitted Transferee agrees, in writing, to be bound by the terms of Section
10.8 of the Operating Agreement), or (b) to the extent authorized by the Company
in writing prior thereto. Nothing contained herein shall be deemed to alter or
modify the obligations of such Holder under such Operating Agreement. Except for
the Operating Agreement, neither the Company nor any of its subsidiaries has, as
of the date hereof entered into any agreement with respect to its securities
that is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof.

       

      (b) Amendments and Waivers.
  The provisions of this Agreement, including the provisions of this
sentence, may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given, unless the same shall
be in writing and signed by the Company and the Holders of at least a majority
of the Registrable Securities to which such waiver or consent
relates.

       

      (c) Notices.   Any and
all notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given and effective
on the earlier of (i) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile telephone number specified for
notice prior to 5:00 p.m., New York City time, on a Business Day, (ii) the
Business Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile telephone number specified for notice
later than 5:00 p.m., New York City time, on any date and earlier than 11:59
p.m., New York City time, on such date, (iii) the Business Day following the
date of mailing, if sent by overnight delivery by nationally recognized
overnight courier service or (iv) actual receipt by the party to whom such
notice is required to be given. The addresses for such communications shall be
with respect to each Holder at its address set forth in the stock register, or
with respect to the Company, addressed to:

       

      Secure
America Acquisition Corporation

      1005
North Glebe Road, Suite 550

      Arlington,
VA 22201

      Attention:
Thomas McMillen

      Facsimile:
(703) 528-0956

       

      or to
such other address or addresses or facsimile number or numbers as any such party
may most recently have designated in writing to the other parties hereto by such
notice. Copies of notices to the Company shall be sent to Mintz, Levin, Cohn,
Ferris, Glovsky and Popeo, P.C., 666 Third Avenue, New York, NY 10017,
Attention: Kenneth R. Koch, Esq., Facsimile: (212) 983-3115.

       

      (d) Successors and Assigns.
  This Agreement shall be binding upon and inure to the benefit of the
parties and their successors and permitted assigns.

       

      (e) Assignment.
  Neither this Agreement nor any of the rights, duties, or obligations
of any party hereunder may be assigned or delegated (by operation of law or
otherwise) by either party hereto except with the prior written consent of the
other party hereto; provided,
however , that a Holder may assign or delegate its rights, duties and
obligations hereunder to any transferee of such Holder’s Registrable Securities
who agrees in writing to become bound by the terms and conditions of this
Agreement, so long as such assignment or delegation is not in violation of the
Contribution Agreement, Operating Agreement or any applicable law or
regulation.

       

      (f) Counterparts.
  This Agreement may be executed in any number of counterparts, each
of which when so executed shall be deemed to be an original and, all of which
taken together shall constitute one and the same Agreement. In the event that
any signature is delivered by facsimile transmission, such signature shall
create a valid binding obligation of the party executing (or on whose behalf
such signature is executed) the same with the same force and effect as if such
facsimile signature were the original thereof.

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

       

      TABLE OF
CONTENTS

       

      (g) Governing Law.
  This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware, without regard to principles of conflicts of
law thereof.

       

      (h) Cumulative Remedies.
  The remedies provided herein are cumulative and not exclusive of any
remedies provided by law.

       

      (i) Severability.   If
any term, provision, covenant or restriction of this Agreement is held to be
invalid, illegal, void or unenforceable in any respect, the remainder of the
terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their reasonable efforts to find and employ an
alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declaredto be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

       

      (j) Headings.   The
headings herein are for convenience only, do not constitute a part of this
Agreement and shall not be deemed to limit or affect any of the provisions
hereof.

       

      [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

      
        
           

        

        
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      TABLE OF
CONTENTS

       

      IN
WITNESS WHEREOF, the parties hereto have caused this Registration Rights
Agreement to be duly executed by their respective authorized persons as of the
date first indicated above.

      

      
        
          
            
              
                
                  
                    
                      
                        	 	SECURE AMERICA ACQUISITION
      CORPORATION
	 	 	 
	 
      	
                                By:

                              	      
                                /s/
      C. Thomas McMillen

                              
	 
      	 
      	
                                Name:

                              	      
                                C.
      Thomas McMillen

                              
	 
      	 
      	
                                Title:

                              	      
                                Co-Chief
      Executive
Officer

                              

                      

                    

                  

                

              

            

          

        

      

      

      
        
          	 
      	
                  ULTIMATE
      RESORT HOLDINGS, LLC

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ James M. Tousignant

                
	 
      	
                  Name:  /s/
      James M. Tousignant

                
	 
      	
                  Title:  Chief
      Executive Officer

                
	 
      	 
      
	 
      	
                  PRIVATE
      ESCAPES HOLDINGS, LLC

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Richard Keith

                
	 
      	
                  Name:  Richard
      Keith

                
	 
      	
                  Title:
      Managing Member,

                
	 
      	
                   
      Chief Executive Officer

                

        

      

      

      
        
          	 
      	 
      	
                  /s/ James M. Tousignant

                
	 
      	 
      	
                  James
      M. Tousignant

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Richard Keith

                
	 
      	 
      	
                  Richard
      Keith

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Phillip Callaghan

                
	 
      	 
      	
                  Phillip
      Callaghan

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Steve Healy

                
	 
      	 
      	
                  Steve
      Healy

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Ed Powers

                
	 
      	 
      	
                  Ed
      Powers

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Gregg Amonette

                
	 
      	 
      	
                  Gregg
      Amonette

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Thomas D’Ambrosio

                
	 
      	 
      	
                  Thomas
      D’Ambrosio

                
	 
      	 
      	 
      
	 
      	 
      	
                  /s/ Steve Griessel

                
	 
      	 
      	
                  Steve
      Griessel

                

        

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      Schedule
A

      

      Schedule
of Investors

      

      Secure
America Acquisition Corporation

      

      Ultimate
Resort Holdings, LLC

      

      Private
Escapes Holdings, LLC

      

      James M.
Tousignant

      

      Richard
Keith

      

      Phillip
Callaghan

      

      Steve
Healy

      

      Ed
Powers

      

      Gregg
Amonette

      

      Thomas
D’Ambrosio

      

      Steve
Griessel

       

      
        
          
          

        

        
          12Unassociated Document

     

    EMPLOYMENT
AGREEMENT

     

    THIS
EMPLOYMENT AGREEMENT (the “Agreement”), made this 29th day of October
2009, between Secure America Acquisition Corporation (the “Company”) and James
M. Tousignant (“Executive”).

     

    WHEREAS, simultaneously with the
execution of this Agreement, the Company has entered into a Contribution
Agreement, dated September 2, 2009 (the “Contribution Agreement”), whereby the Company has agreed to
contribute the Contribution Property (as defined in the Contribution Agreement)
in exchange for the issuance of a certain percentage of the membership interests
of Ultimate Escapes Holdings, LLC (“Ultimate Escapes”), all as more fully set
forth in the Contribution Agreement (such transaction is the “Contribution” and
the effective date of such Contribution is the “Closing
Date”);

     

    WHEREAS, Executive is currently a member
of Ultimate Escapes, and subject to the closing of the transactions contemplated
by the Contribution Agreement, such transactions are of substantial benefit to
Executive; and

     

    WHEREAS, prior to the Contribution,
Executive has been employed by Ultimate Escapes as its President and
Chief Executive Officer, and
following the Contribution, Executive and the Company desire that Executive be
employed by the Company, on such terms and subject to such conditions as are set
forth herein.

     

    NOW, THEREFORE, in consideration of the
mutual covenants and promises contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
the parties hereto, the parties agree as follows:

     

    1.           Term of
Employment.  The Company hereby agrees to employ Executive, and
Executive agrees to work for the Company, upon the terms set forth in this
Agreement, for the period commencing as of the Closing Date (the “Commencement
Date”) and ending on the three-year anniversary of the Commencement Date, unless
sooner terminated in accordance with the provisions of Section 4 or extended as
hereinafter provided (such period, as it may be extended or terminated, is the
“Agreement Term”).  Beginning on the third anniversary of the
Commencement Date, and on each anniversary of the Commencement Date thereafter,
the Agreement Term shall extend for an additional one year period from the then
current expiration date of the Agreement Term unless, at least 90 days prior to
the third anniversary of the Commencement Date or 90 days prior to the
anniversary of each Commencement Date thereafter, either Executive or the
Company provides written notice to the other party electing not to extend the
Agreement Term.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.           Title;
Capacity.  The Company will employ Executive, and Executive
agrees to work for the Company, as its President and Chief Executive Officer
(“CEO”) to perform the duties and responsibilities inherent in such position and
such other duties and responsibilities as the Company’s Board of Directors (the
“Board”) shall from time to time reasonably assign to him.  The Company shall take all reasonable
action to cause Executive to be elected to the Board.  Upon any
termination of employment, Executive shall be deemed to have resigned and, if
required by the Board, Executive hereby agrees to immediately execute a
resignation letter to the Board.

     

    3.           Compensation and
Benefits.

     

    3.1.         Salary.  The
Company shall pay Executive an annual base salary of $450,000, less applicable
payroll withholdings (the “Base Salary”), which shall be payable in accordance
with the Company’s customary payroll practices.  Thereafter, the Base
Salary shall be subject to annual review and increase in an amount equal to 10%
of Executive’s Base Salary, as determined by the Board on the anniversary of the
Commencement Date each year of the Agreement Term.

     

    3.2.         Bonus.  During
each year of the Agreement Term, Executive shall be eligible to receive a cash
bonus (such bonus is referred to as the “Bonus”) in an amount of at least 10%
and at most 100% of Executive’s Base Salary, less applicable payroll withholdings,
which bonus shall be discretionary and any amount of such annual Bonus
shall be determined in the sole discretion of the Board and based on such
factors as the Board establishes.  Additionally, Executive shall be entitled to receive
a pro-rated Bonus, if one is awarded, for any portion of a year in which
Executive was employed by the Company, provided, however, that Executive shall
not be entitled to such bonus in the event that Executive is terminated for
“Cause” (as such term is defined below).  Such Bonus shall be payable at such times as
bonuses are paid to other executives of the Company, but not later than 60 days
after the end of each fiscal year of the Company.

     

    3.3.         Equity.  Executive
shall be entitled to equity incentives, in an amount to be determined by the
Board, or a committee thereof, in its sole discretion, which equity incentives
shall be granted to Executive no later than one-hundred twenty (120) days from
the Closing Date and shall vest ratably in three (3) equal annual installments
commencing on the first anniversary of the initial grant date(s) thereof, and
may be further accelerated or forfeited as set forth in the equity agreement
entered into between the parties in connection with this Agreement.

     

    3.4.         Fringe
Benefits.  Executive shall be entitled to participate in all
benefit programs that the Company establishes and makes available to its senior
executives.  Executive shall also be entitled to take fully paid
vacation in accordance with Company policy, which shall be no more than four (4)
weeks per calendar year.  Additionally, Executive shall continue to be
entitled to two (2) lifetime memberships (ELITE Platinum and SIGNATURE Platinum
memberships) in the Ultimate Escapes luxury destination clubs, as set forth in
Schedule 6.1(a) (UR Member Club Facilities Usage Rights Summary) of the Ultimate
Resort Holdings, LLC Operating Agreement, dated April 30, 2007.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.5.         Reimbursement of
Expenses.  The Company shall reimburse Executive in the amount
of up to $25,000 per year to lease, and use for business purposes, a car, and
shall also reimburse Executive for such reasonable and necessary business
expenses incurred by Executive while Executive is employed by the Company, which
are directly related to the furtherance of the Company’s
business.  Executive must submit any request for reimbursement no
later than ninety (90) days following the date that such business expense is
incurred in accordance with the Company’s reimbursement policy regarding same
and business expenses must be substantiated by appropriate receipts and
documentation. The Company may request additional documentation or a further
explanation to substantiate any business expense submitted for reimbursement,
and retains the discretion to approve or deny a request for
reimbursement.  If a business expense reimbursement is not exempt from
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), any
reimbursement in one calendar year shall not affect the amount that may be
reimbursed in any other calendar year and a reimbursement (or right thereto) may
not be exchanged or liquidated for another benefit or payment.  Any
business expense reimbursements subject to Section 409A of the Code shall be
made no later than the end of the calendar year following the calendar year in
which such business expense is incurred by Executive.

     

    3.6.         Indemnification and
Directors and Officers Insurance.  The Company shall indemnify
Executive to the same extent as the Company indemnifies its officers and
directors under its charter and bylaws.  The Company shall purchase
and maintain in full force and effect at all times during Executive’s employment
and for a period of eighteen (18) months thereafter, policies of directors and
officers insurance covering Executive for all actions Executive takes on the
Company’s behalf during Executive’s employment.

     

    4.           Termination of Employment
Period.  The Agreement Term shall terminate upon the earlier to
occur of any of the following:

     

    4.1.         Termination of the Agreement
Term.  At the expiration of the Agreement Term, but only if
appropriate notice is provided pursuant to Section 1.

     

    4.2.         Termination for
Cause.  At the election of the Company, for
Cause.  For the purposes of this Section 4.2, “Cause” for termination
shall be deemed to exist upon the occurrence of any of the
following:

     

    4.2.1.         a
determination by the independent directors of the Board of Directors that
Executive has engaged in dishonesty, gross negligence or misconduct that is
injurious to the Company or its affiliates;

     

    4.2.2.         Executive’s
conviction or entry of nolo contendere (or international equivalent) to any
felony or crime involving moral turpitude, fraud or embezzlement of Company
property;

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4.2.3.         Executive’s
material breach of this Agreement, which, if curable, has not been cured by
Executive within thirty (30) calendar days after Executive shall have received
written notice from the Company stating with reasonable specificity the nature
of such breach; or

     

    4.2.4.         Executive’s
material breach of any of the terms of the restrictive covenants set forth in
Section 6 below, which, if curable, has not been cured by Executive within
thirty (30) calendar days after Executive shall have received written notice
from the Company stating with reasonable specificity the nature of such
breach.

     

    4.3.         Termination by the Company
Without Cause.  At the election of the Company, without Cause,
at any time, upon 30 days notice to Executive.

     

    4.4.         Death or
Disability.  The Agreement shall terminate upon Executive’s
death or disability.  If Executive shall be disabled so as to be
unable to perform the essential functions of Executive’s position under this
Agreement with or without reasonable accommodation, the Board may remove
Executive from any responsibilities and/or reassign Executive to another
position with the Company during the period of such disability, and Executive
will continue to receive the same Base Salary and benefits then in effect set
forth in this Agreement for a period of twelve (12) months, and such
reassignment shall not trigger a Good Reason termination as provided
herein.  Notwithstanding any such removal or reassignment,,
Executive’s employment may be terminated by the Company at any time
thereafter.  Nothing in this Section 4.4 shall be construed to waive
Executive’s rights, if any, under existing law, including, without limitation,
the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans
with Disabilities Act, 42 U.S.C. §12101 et
seq.  Notwithstanding the foregoing, if and only to the extent
that Executive’s disability is a trigger for the payment of deferred
compensation, as defined in Section 409A of the Code, “disability” shall have
the meaning set forth in Section 409A(a)(2)(C) of the Code.

     

    4.5.         Voluntary Termination by
Executive.  At the election of Executive, upon not less than 30
days’ prior written notice by Executive to the Company.

     

    4.6.         Voluntary Termination by
Executive for Good Reason.  At the election of Executive, for
Good Reason (as defined herein), at any time upon 30 days’ prior written notice
by Executive.  As used in this Agreement, “Good Reason” means if the
Company, without Executive’s written consent, fails to cure any one or more of
the events or circumstances listed below within ten (10) calendar days after
receiving written notice from Executive:

     

    4.6.1.         the
assignment to Executive of duties materially inconsistent with this Agreement or
a material diminution in title or authority;

     

    4.6.2.         any
failure by the Company to pay Executive the compensation and benefits to which
Executive is entitled in any material way, including any reduction in
compensation including Base Salary, or payments and benefits to which Executive
is entitled under this Agreement including, without limitation, the obligation
to purchase and keep in force a policy of directors and officers liability
insurance;

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    4.6.3          any
material breach by the Company of the material terms of this Agreement;
or

     

    4.6.4          the
requirement that Executive relocate to a location more than fifty (50) miles
outside of Orlando, Florida.

     

    5.           Effect of
Termination.

     

    5.1.         Termination for Cause, at
the Election of Executive.  In the event that Executive’s
employment is terminated for Cause pursuant to Section 4.2 or at the election of
Executive pursuant to Section 4.5 the Company shall have no further obligations
under this Agreement other than to pay to Executive the compensation and
benefits, including payment for accrued but untaken vacation days, otherwise
payable to Executive under Section 3 through the last day of Executive’s actual
employment by the Company (“Accrued Obligations”).

     

    5.2.         Termination by the Company
Without Cause, by Executive for Good Reason or for Death or
Disability.  In the event that the Company terminates
Executive’s employment without Cause pursuant to Section 4.3, Executive
terminates Executive’s employment for Good Reason, pursuant to Section 4.6, or
by death or disability pursuant to Section 4.4, the Company, in addition to the
Accrued Obligations, shall continue to pay to Executive his annual Base Salary
then in effect for a period of twelve (12) months on a regular payroll
basis.  In addition, the Company shall continue Executive’s coverage
under and its contributions towards Executive’s health care, dental, disability
and life insurance benefits on the same basis as immediately prior to the date
of termination, except as provided below, for twelve (12) months from the last
day of Executive’s employment; provided, however, continuation coverage under
the Company’s health and dental policies is subject to Executive’s valid
election for such continuation coverage in accordance with section 4980B of the
Code.  If the Company is not able to provide Executive benefit
continuation coverage under the plans as set forth above, the Company shall pay
Executive an amount equal to the employer portion of the applicable premiums for
the relevant period.  Notwithstanding the foregoing, subject to any
overriding laws, the Company shall not be required to provide any health care,
dental, disability or life insurance benefit otherwise receivable by Executive
if Executive is actually covered or becomes covered by an equivalent benefit (at
the same cost to Executive, if any) from another source.  Any such
benefit made available to Executive shall be reported to the
Company.  The benefits provided for in this Section 5.2 are
conditioned upon the execution and delivery by Executive of a release of all
claims against the Company in conformance with applicable law and in form and
substance satisfactory to the Company (the “Release”) no later than 45 days
following Executive’s termination.  To the extent required by Section
409A of the Code, the first installment of such Base Salary in the amount of six
(6) months’ Base Salary shall be payable on the first business day following the
effective date of termination, and the remainder shall be payable in accordance
with the Company’s regular payroll procedures thereafter.  If Section
409A of the Code is not applicable at the time of such termination, such Base
Salary continuation shall commence immediately after the date of the
Release.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.3.         Separation from
Service.  Notwithstanding anything set forth in Sections 4 and
5 of this Agreement, a termination of employment shall be deemed not to have
occurred until such time as Executive incurs a “separation from service” with
the Company in accordance with Section 409a(a)(2)(A)(v) of the Code and the
applicable provisions of Treasury Regulation Section 1.409A-3.

     

    6.           Non-disclosure and
Non-competition.

     

    6.1.         Proprietary
Information.

     

    6.1.1.         Executive
agrees that all information and know-how, whether or not in writing, of a
private, secret or confidential nature concerning the Company’s business or
financial affairs (collectively, “Proprietary Information”) is and shall be the
exclusive property of the Company.  By way of illustration, but not
limitation, Proprietary Information may include inventions, products, processes,
methods, techniques, formulas, designs, drawings, slogans, tests, logos, ideas,
practices, projects, developments, plans, research data, financial data,
personnel data, computer programs and codes, and customer and supplier
lists.  Executive will not disclose any Proprietary Information to
others outside the Company except in the performance of Executive’s duties or
use the same for any unauthorized purposes without written approval by an
officer of the Company, either during or after Executive’s employment, unless
and until such Proprietary Information has become public knowledge or generally
known within the industry without the fault of Executive, or unless otherwise
required by law.

     

    6.1.2.         Executive
agrees that all files, letters, memoranda, reports, records, data, sketches,
drawings, laboratory notebooks, program listings, or other written,
photographic, electronic or other material containing Proprietary Information,
whether created by Executive or others, which shall come into Executive’s
custody or possession, shall be and are the exclusive property of the Company to
be used by Executive only in the performance of Executive’s duties for the
Company.

     

    6.1.3.         Executive
agrees that Executive’s obligation not to disclose or use information, know-how,
records and tangible property of the types set forth in Sections 6.1.1 and 6.1.2
above, also extends to such types of information, know-how, records and tangible
property of subsidiaries and joint ventures of the Company, customers of the
Company or suppliers to the Company or other third parties who may have
disclosed or entrusted the same to the Company or to Executive in the course of
the Company’s business.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    6.2.         Inventions.

     

    6.2.1.         Disclosure.  Executive
shall disclose promptly to an officer or to attorneys of the Company in writing
any idea, invention, work of authorship, whether patentable or unpatentable,
copyrightable or uncopyrightable, including, but not limited to, any computer
program, software, command structure, code, documentation, compound, genetic or
biological material, formula, manual, device, improvement, method, process,
discovery, concept, algorithm, development, secret process, machine or
contribution (any of the foregoing items hereinafter referred to as an
“Invention”) Executive may conceive, make, develop or work on, in whole or in
part, solely or jointly with others.  The disclosure required by this
Section applies (a) during the period of Executive employment with the Company;
(b) with respect to all Inventions whether or not they are conceived, made,
developed or worked on by Executive during Executive’s regular hours of
employment with the Company; (c) whether or not the Invention was made at the
suggestion of the Company; (d) whether or not the Invention was reduced to
drawings, written description, documentation, models or other tangible form; and
(e) whether or not the Invention is related to the general line of business
engaged in by the Company.

     

    6.2.2.         Assignment of Inventions to
Company; Exemption of Certain Inventions.  Executive hereby
assigns to the Company, without royalty or any other further consideration,
Executive’s entire right, title and interest in and to all Inventions which
Executive conceives, makes, develops or works on during employment and for one
year thereafter, except those Inventions that Executive develops entirely on
Executive’s own time after the date of this Agreement without using the
Company’s equipment, supplies, facilities or trade secret information unless
those Inventions either (a) relate at the time of conception or reduction to
practice of the Invention to the Company's business, or actual or demonstrably
anticipated research or development of the Company; or (b) result from any work
performed by Executive for the Company.

     

    6.2.3.         Records.  Executive
will make and maintain adequate and current written records of all
Inventions.  These records shall be and remain the property of the
Company.

     

    6.2.4.         Patents.  Subject
to Section 6.4, Executive will assist the Company in obtaining, maintaining and
enforcing patents and other proprietary rights in connection with any Invention
covered by Section 6.1.  Executive further agrees that Executive’s
obligations under this Section 6.2.4 shall continue beyond the termination of
Executive’s employment with the Company, but if Executive is called upon to
render such assistance after the termination of such employment, Executive shall
be entitled to a fair and reasonable rate of compensation for such
assistance.  Executive shall, in addition, be entitled to
reimbursement of any expenses incurred at the request of the Company relating to
such assistance.

     

    6.2.5.         Prior Contracts and
Inventions; Information Belonging to Third Parties.  Executive
represents that there are no contracts to assign Inventions between any other
person or entity and Executive.  Executive further represents that (a)
Executive is not obligated under any consulting, employment or other agreement
which would affect the Company’s rights or my duties under this Agreement, (b)
there is no action, investigation, or proceeding pending or threatened, or any
basis therefor known to Executive involving Executive’s prior employment or any
consultancy or the use of any information or techniques alleged to be
proprietary to any former employer, and (c) the performance of Executive’s
duties as an Executive of the Company will not breach, or constitute a default
under any agreement to which Executive is bound, including, without limitation,
any agreement limiting the use or disclosure of proprietary information acquired
in confidence prior to engagement by the Company.  Executive will not,
in connection with Executive’s employment by the Company, use or disclose to the
Company any confidential, trade secret or other proprietary information of any
previous employer or other person to which Executive is not lawfully
entitled.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    6.3.         Non-competition and
Non-solicitation.

     

    6.3.1.         As
Executive:  During Executive’s employment and for a period of
one (1) year after the termination of Executive’s employment with the Company
for any reason, Executive will not, absent the Company’s prior written approval,
directly or indirectly, individually or on behalf of any other person or entity,
whether as principal, agent, stockholder (other than as the holder of not more
than 1% of the combined voting power of the outstanding stock of a public
company), officer or director of any corporation or other business entity, or as
a trustee, fiduciary or in any other similar representative capacity, solicit any person or
entity that engages in
(a) providing luxury destination club vacation opportunities or (b) the
ownership and/or operation of a business of providing luxury destination club
vacation opportunities.  Such period is hereafter referred to
as the “Executive
Non-Compete Period”.  Executive acknowledges and agrees that
his salary sufficiently compensates, and has been determined in the
understanding that Executive will comply with, the non-compete obligations set
forth herein.

     

    6.3.2.         As
Seller:  Executive acknowledges that he has received
significant consideration as part of the Contribution Agreement, and that, as a
result, Executive agrees that for a period of thirty (30) months after the
Closing Date, Executive will not, absent the Company’s prior written approval,
directly or indirectly, individually or on behalf of any other person or entity,
whether as principal, agent, stockholder (other than as the holder of not more
than 1% of the combined voting power of the outstanding stock of a public
company), officer or director of any corporation or other business entity, or as
a trustee, fiduciary or in any other similar representative capacity, solicit any person or
entity that engages in
(a) providing luxury destination club vacation opportunities or (b) the
ownership and/or operation of a business of providing luxury destination club
vacation opportunities.  Such period is hereafter referred to
as the “Seller
Non-Compete Period.”

     

    6.3.3.         During
Executive’s employment with the Company and until the conclusion of the Seller
Non-Compete Period and the Executive Non-Compete Period, Executive will not,
directly or indirectly, recruit, solicit or induce, or attempt to recruit,
solicit or induce any employee or employees of the Company to terminate their
employment with, or otherwise cease their relationship with, the
Company.

     

    6.3.4.         During
Executive’s employment with the Company and until the conclusion of the Seller
Non-Compete Period and the Executive Non-Compete Period, Executive will not,
directly or indirectly, solicit, divert or take away, or attempt to solicit,
divert or take away, the business or patronage of any of the clients, customers
or accounts, or prospective clients, customers or accounts, of the
Company.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    6.4.         If
any restriction set forth in this Section 6 is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of
time or over too great a range of activities, it shall be interpreted to extend
only over the maximum period of time or range of activities as to which it may
be enforceable.

     

    6.5.         The
restrictions contained in this Section 6 are necessary for the protection of the
business and goodwill of the Company and are in exchange for payments made to
Executive for Executive’s ownership interest in the Company and for the
consideration received as part of the Contribution Agreement, are considered by
Executive to be reasonable for such purpose.  Executive agrees that
any breach of this Section will cause the Company substantial and irrevocable
damage and therefore, in the event of any such breach, in addition to such other
remedies which may be available, the Company shall have the right to seek
specific performance and injunctive relief.  The Company shall be
entitled to recover its reasonable attorneys’ fees in the event it prevails in
such an action.

     

    7.           Other
Agreements.  Executive represents that Executive’s performance
of all the terms of this Agreement as an Executive of the Company does not and
will not breach any (i) other agreement to keep in confidence proprietary
information, knowledge or data acquired by Executive in confidence or in trust
prior to Executive’s employment with the Company or (ii) other agreement to
refrain from competing, directly or indirectly, with the business of any
previous employer or any other party.

     

    8.           Notices.  All
notices required or permitted under this Agreement shall be in writing and shall
be deemed effective upon (a) a personal delivery or (b) by registered or
certified mail, postage prepaid.

     

    9.           Entire
Agreement.  This
Agreement, together with any equity agreements executed by Executive and the
Company (either prior to or in conjunction with this Agreement) which agreements
shall become part of this Agreement, embody the entire agreement and
understanding between the parties hereto with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings
relating to the subject matter hereof, including Executive’s Executive
Employment Agreement, dated August 3, 2007, entered into between Executive and
Ultimate Resort Holdings, LLC (the “Prior Employment
Agreement”).  Executive hereby expressly acknowledges and agrees that,
as of the Commencement Date of this Agreement, the Prior Employment Agreement
shall no longer be in full force and effect, and that neither party to the Prior
Employment Agreement shall have any further obligation to perform
thereunder,
including, without
limitation, that Executive shall not be entitled to receive any
amounts provided for under Sections 3, 4 and 6 of the Prior Employment
Agreement.  No statement, representation, warranty, covenant or
agreement of any kind not
expressly set forth in this Agreement will affect, or be used to interpret,
change or restrict, the express terms and provisions of this
Agreement.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    10.           Amendment.  This
Agreement may be amended or modified only by a written instrument executed by
both the Company and Executive.

     

    11.           Governing Law and Jury
Waiver.  This Agreement shall be construed, interpreted and
enforced in accordance with the laws of the State of Florida without regard to
principles of conflicts of laws thereunder.  The parties agree to
irrevocably waive any right to trial by jury in such an action.

     

    12.           Successors and
Assigns.  This Agreement shall be binding upon and inure to the
benefit of both parties and their respective successors and assigns, including
any corporation into which the Company may be merged or which may succeed to its
assets or business, provided, however, that the
obligations of Executive are personal and shall not be assigned by
him.

     

    13.           Taxes.  All
payments required to be made by the Company to Executive under this Agreement
shall be subject to the withholding of such amounts for taxes and other payroll
deductions as the Company may reasonably determine it should withhold pursuant
to any applicable law or regulation.  To the extent applicable, it is
intended that the provisions of this Agreement comply with Code Section 409A or
be exempt therefrom, and this Agreement shall be administered, and all
provisions of this Agreement shall be construed, in a manner consistent with the
requirements for avoiding taxes or penalties under Code Section 409A.  In the event that any
severance payments or benefits hereunder are determined by the Company to be in
the nature of nonqualified deferred compensation payments, Executive and the
Company hereby agree to take such actions as may be mutually agreed to ensure
that such payments or benefits comply with the applicable provisions of Section
409A of the Code and the official guidance issued
thereunder.  Notwithstanding the foregoing, the Company does not guarantee the tax
treatment or tax consequences associated with any payment or benefit arising
under this Agreement.

     

    14.         Miscellaneous.

     

     
14.1.        No
Waiver.  No delay or omission by the Company in exercising any
right under this Agreement shall operate as a waiver of that or any other
right.  A waiver or consent given by the Company on any one occasion
shall be effective only in that instance and shall not be construed as a bar or
waiver of any right on any other occasion.

     

     
14.2.         Captions.  The
captions of the sections of this Agreement are for convenience of reference only
and in no way define, limit or affect the scope or substance of any section of
this Agreement.

     

     
14.3.        Severability.  In
case any provision of this Agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining
provisions shall in no way be affected or impaired thereby.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

      14.4.        Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which, taken together, shall constitute one and
the same instrument.

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day
and year set forth above.

    

    
      
        
          
            
              
                	
                        /s/ Jim
      Tousignant  

                      	 
      
	
                        JIM
      TOUSIGNANT

                      	 
      
	 
      	 
      	 
      
	
                        SECURE
      AMERICA ACQUISITION

                        CORPORATION

                      	 
      
	 
      	 
      	 
      
	
                        By:

                      	
                        /s/
      C. Thomas McMillen

                      	 
      
	
                        Its:

                      	
                        Co-CEO 
      

                      	 
      

              

            

          

        

      

    

    
      
         

      

      
        11

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