Document:

exv10w12

 

Exhibit
10.12

August 22, 2005

Danny Lam

			
	RE:	 	— President — New Financing subsidiary

Dear Danny,

We are pleased to make the following offer to you regarding future employment at a new subsidiary
to be established at ProLink Solutions LLC.

	 	 	 
	Position:

	 	President —
	 
	 	 
	Reports To:

	 	CEO
	 
	 	 
	Start Date:

	 	No Later September 5, 2005
	 
	 	 
	Responsibilities:

	 	POSITION OVERVIEW:

Responsible for the overall development, sales, marketing, human resource, and financial strategy
for the organization. Develop plans and coordinates company-wide financial strategies to meet
business objectives and achieve maximum results. Continually evaluates the timely adjustment of
tactics and plans to meet changing market and competitive conditions. Direct and coordinate the
efforts of executive level personnel toward the accomplishment of corporate objectives.

SCOPE & RESPONSIBILITIES:

	 	•	 	Design financial and budgeting strategy to support operations and in preparation for
the IPO
	 
	 	•	 	Establish practices and procedures for control and compliance functions
	 
	 	•	 	Evaluate and implement financing alternatives
	 
	 	•	 	Plan the company’s capital structure, including cash and risk management

 

 

     Provide centralized administrative oversight of financial operations and
human resources

	 	•	 	Create and monitor financial reports, external and internal,
	 
	 	•	 	Establish strategic partnerships and alliances to support company goals
	 
	 	•	 	Communicate with Investors, Wall Street and the Financial Analyst community as required
	 
	 	•	 	Direct and implement investor relations strategies
	 
	 	•	 	Participate in review and appraisal of potential acquisitions and divestments
	 
	 	•	 	Acquire and manage staff support necessary to fulfill duties
	 
	 	•	 	Develop and manage sales and marketing plan.

Direct responsibility:  for contracts, lease documents, litigation, and Human Resource issues.
Complete responsibility to all Sarbanes/Oxley matters. Your further responsibility will
include general business on all company business.

	 	 	 
	Base Salary:

	 	$150,000 annually — Payable Bi-weekly
	 
	 	 
	Travel:

	 	The Company will reimburse you for all approved expenses
Entertainment expenses subject to company policy.
	 
	 	 
	Moving Expense:

	 	The Company will reimburse you for reasonable moving
expense.
	 

	 	The company will pay for required airfare back and forth to New
Jersey as required.

Corporate
Housing:    The Company will provide corporate apartment until June 30, 2006. The company
will pay required approved transition expenses. The candidate agrees to use his best efforts to secure permanent
housing as quickly as possible.

	 	 	 
	Benefits:

	 	Standard benefits package as detailed in the Company handbook.
	 
	 	 
	Bonus:

	 	You will be eligible for a series of bonuses equal to 100%
($150,000) of your base salary structured as follows:

 

 

	 	1)	 	50% ($75,000) we will develop a series of
milestones based on successful achievement of designed goals.
	 
	 	2)	 	50 %-( $75,000) you will receive an annual
bonus paid February 15, 2007 if the company achieves an annual EBITDA
of $ ___million in 2006. This will be prorated from $ ___
million being zero.

There will be a prorated bonus paid if earned by December 31, 2005 on
February 15, 2006. All other bonuses will be paid annually if earned by
December 31, 2006 and will be paid on February 15, 2007

	 	 	 
	Equity Plan:

	 	The board of directors has agreed to structure a synthetic
equity plan that would award the candidate 20% interests in
all net profits of subsidiary as well as 20% of net gains on
the sale of the subsidiary. This sale provision of the plan
would have a vesting schedule of 3 years with a gradual
vesting plan of 1/3 per year. The vesting would have certain
accelerating vesting provision based on a sale of the entity.
	 
	 	 
	Employment

	 	This will be a two-year agreement with other provision to be
negotiated. Both parties agree to use their best efforts to
complete this agreement as soon as possible.

If you have any questions or concerns, please do not hesitate to contact me. We look forward to
you accepting this offer and joining our team.

Please advise us of your acceptance no later than August 31, 2005.

Very truly yours,

	 	 	 
	Lawrence Bain
	 	 
	President/CEO
	 	 
	 

	 	 
	ProLink Solutions, LLC

	 	Acceptance:exv10w13

 

Exhibit
10.13

PROLINK

SOLUTIONS, LLC

September 6, 2005

Dave Gomez

RE: Vice President General Counsel — Corporate Secretary

Dear Dave,

We are pleased to make the following offer to you regarding future
employment at

ProLink Solutions LLC.

	 	 	 
	Position:

	 	Vice President: General Counsel — Corporate Secretary Reports To:
	CEO
	 	 
	 
	 	 
	Start Date:

	 	No Later than September 15, 2005
	 
	 	 
	Responsibilities:

	 	Manage all legal affairs of Company. Including direct responsibility
for contracts, lease documents, litigation, securities filings and Human Resource
issues. As Corporate Secretary your direct responsibility is for all Board of
Directors minutes and communications, the filing of local, State and Federal
filings as to accuracy and completeness. Complete responsibility for all
Sarbanes/Oxley matters. Your further responsibility will include general business
and legal advice on all company business.
	 
	 	 
	Base Salary:

	 	$115,000 annually — Payable Bi-weekly
	 
	 	 
	Travel and

	 	The Company will reimburse you for all approved expenses
	Entertainment Expenses subject to company policy.
	 
	 	 
	Benefits:

	 	Standard benefits package as detailed in the Company handbook.
	 
	Bonus:

	 	You will be eligible for a series of bonuses in 2005 equal to 50 % of your base
salary structured as follows:

	 	1)	 	($21,250) contract management. We will develop a series of milestones based on successful
merger and follow on financing.

 

 

	 	2)	 	($20,000) Successful implementation of service and support contract update program to be
further defined.
	 
	 	3)	 	($1 3,750) You will receive an annual bonus paid February 15,
2006 if the company achieves an annual EBITDA of $2 million
in 2005. This amount will be prorated based on earnings
beginning at $1.6 million, which will equal zero through a
full bonus at $2 million. This amount will also be
prorated based on your time of employment.

Bonuses #1 and #3 will be paid annually if earned by December 31, 2005
and will be paid on February 15, 2006. Bonus #2 will be earned in 2006
and paid February 15, 2006. You will be eligible for a series
of bonuses equal to 60% of your base salary in 2006 and 70% in
2007 and thereafter with similar performance targets to be decided at
the appropriate time.

	 	 	 	 	 
	 

	 	Equity Plan:
	 	It is the intention of the Compensation Committee of the company to
install a company wide equity incentive plan. We would
recommend, and would anticipate that the company would accept our
recommendation, that you receive equity options commensurate with
your position on an annual basis. These options would ratably vest over a
3-year period. Our recommendation would be to award you equity
options equal to 0.60% of the outstanding equity of the
company on a fully diluted basis as of closing of the current
round anticipated by September 30,2005. The strike price equal 75%
of the equity price in such the anticipated public merger.

Employment Agreement: You will be required to sign a standard Employment Agreement that will
be effective for one year after your departure.

If you have any questions or concerns, please do not hesitate to
contact me. We look forward to you accepting this offer and joining
our team.

Please advise us of your acceptance no later than September 10, 2005

	 	 	 
	Very truly yours,

	 	/S/ Dave Gomez
	 

	 	 
	 
	 	 
	Lawrence Bain

	 	        
     President Acceptedexv10w14

 

Exhibit
10.14

	 	 	 
	 

	 	Prolink Solutions

LLC

April 1, 2005

Chuck Sherman

RE: Chief Operating Officer

Dear Chuck

We are pleased to make the following offer to you regarding continued employment at
Prolink Solutions, LLC.

	 	 	 
	Position:

	 	Chief Operating Officer
	 
	 	 
	Reports To:

	 	CEO
	 
	 	 
	Start Date:

	 	April 15, 2005
	 
	 	 
	Term

	 	Through December 31, 2006
	 
	 	 
	Responsibilities:

	 	Manage existing operations including service,
installation, support, IT, engineering, research and development,
purchasing, manufacturing, Interfacing between internal and
external finance groups, sales personnel, executive team and board
of director and key investors. Direct responsibly to grow, manage
and develop new product development and material. Manage and
develop the internal software systems to integrate service, finance
and sales along with executive reporting which will provide
accurate forecasting for revenue and assisting in fulfilling that
forecast. Work with customers to obtain executive team standard for
product acceptance. Provide an accurate and professional department
forecast and budget. Develop and establish new compensation models
and structures for the reporting line departments. Assist the
Portfolio Department in restructuring of troubled accounts. Work
closely with the Marketing Department to properly position and
present our product and services to the market place. In addition
assume responsibility of operating P and L. With integrated dotted
line reporting authority for CFO and Sales department.
	 
	 	 
	Base Salary:

	 	2005 -$210,000 annually (prorated effective 4/15/05
- 2006-$250,000 (subject to terms below) Payable
Bi-weekly
	 
	 	 
	Travel and
Entertainment Expense:

	 	The company will reimburse you for all approved expenses subject
to company policy.
	 
	 	 
	Benefits:

	 	Standard benefits package as detailed in the Company
handbook. Vacation to be four weeks per year for 2005 and 2006.
	 
	 	 
	Bonus:

	 	You will be eligible for a series of bonuses equal to 85% of
your

 

 

	 	 	 
	 

	 	Page 2 of 2
	 

	 	Chuck Sherman- Offer Letter
	 

	 	April 1, 2005

base salary structured as follows:

1. 20% $35,700) Cost reductions — successful reduction of costs per installation
(excluding VDU) from agreed upon base platform. Incentive to be prorated based on 0% to 100% of
available incentive based 0% to 30% cost reduction. Incentive for savings completed by August
31, 2005 to be paid by October 15, 2005. Savings completed after August 31, 2005 to be paid by
February 15, 2006.

2. 65% ($116,025) Cost reductions — successful reduction of cost per VDU based on a
prorated scale of 0% to 100% of available incentive based on $0 to $350 of savings. Incentive
for savings completed by August 31, 2005 to be paid by October 15, 2005. Savings completed
after August 31, 2005 to be paid by February 15, 2006.

3. 15% ($26,775) EBITDA bonus — you will receive an annual bonus paid February 15,
2006 if the company achieves an annual normalized EBITDA of $2 million in 2005. This will be
prorate from $1.6 million.

Additional conditions:

1. 2006 base salary — base salary will be adjusted to $250,000 at the earlier
of January 1, 2006 or a successful Public stock offering. In the event there is not a
successful public offering in 2005, the base salary will be adjusted for 2006 as follows:

	a.	 	Base salary will be prorated from
$210,000 to $250,000 for 2005 gross revenues between $15 million and
$18 million.
	 
	b.	 	Base salary will be prorated from
$210,000 to $250,000 for 2005 EBITDA between $1.6 million and $2.0
million.
	 
	c.	 	The higher of the two values from a. and
b. above shall be the basis of the 2006 base salary.
	 
	d.	 	In the event of a successful Public stock offering in 2006, the base
salary will immediately be adjusted to $250,000 if it has not already reached that
level and all
associated incentives shall be adjusted to reflect the new base salary.

	 	2.	 	2006 bonus — bonus will be 100% of base pay subject to achieving 2
individual targets designed by the compensation committee and the employee and one company
wide executive earning or financial target. Weighting will be agreed upon in good faith by
compensation committee and employee. Incentive to be paid by February 15, 2007.

 

 

Severance: Employee will be entitled to a lump sum payment of 6 months severance upon termination
without cause.

Equity Plan: The Compensation Committee of the board of the company to install an equity incentive
plan. We have recommended and have received approval from the proposed chairman elect that the
company would accept our recommendation that you would receive equity options commensurate with
your position on an annual basis. These options would have a vesting schedule of 3 years with a
gradual vesting plan of 1/3 per year. The company would award to you a minimum of 6 % equity
options priced at the most recent round of financing in the company. Entitled convertible senior
security and will be adjusted to the final pricing of that round. In the event of a public offering
these options will vest immediately but be subject o underwriters lock ups, 144 insider rules,
company restrictions and security rules and registrations. All options will vest upon termination
without cause..

Employment Agreement: Employee and Company agree to negotiate in good faith a detailed employment
agreement based on these terms and conditions to be complete and executed within 30 days of
employee’s acceptance of these basic terms and conditions.

If you have any questions or concerns, please do not hesitate to contact me. We look
forward to you accepting this offer and joining our team.

Please advise us of your acceptance no later than April 8, 2005

	 	 	 
	Very Truly Yours,
	 	 
	 
	/S/ Lawrence Bain
	 	 
	 

cc: PSL Board

	 	 
	 
	 	 
	Accepted:
	 	 
	/S/ Chuck Sherman

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