Document:

Exhibit 10.11

THE MANITOWOC COMPANY, INC.

 

AWARD AGREEMENT

2004 NON-EMPLOYEE DIRECTOR STOCK
AND AWARDS PLAN

Amended Effective May 3,
2006

 

THIS AWARD AGREEMENT is entered into this        
day of               ,
20          , and reflects
action taken by THE MANITOWOC COMPANY, INC. (the
“Company”) to {INSERT NON-EMPLOYEE DIRECTOR’S NAME}
 (the
“Director”) pursuant to the 2004 NON-EMPLOYEE DIRECTOR
STOCK AND AWARDS PLAN (the “Plan”).

WHEREAS, the Company believes it to be in the
best interests of the Company, its subsidiaries and its stockholders to provide
its non-employee directors with incentives to increase shareholder value by
offering the opportunity to acquire shares of the Company’s common stock,
receive incentives based on the value of such common stock, or receive other
incentives on potentially favorable terms (collectively referred to and further
defined in the Plan as “Awards”); and

WHEREAS, the Company has adopted the Plan to
establish certain parameters regarding such Awards; and

WHEREAS, the Company, acting by the authority of
the Compensation Committee of the Board of Directors of the Company (the
“Committee”), has decided to enter into this Agreement, subject to the terms of
the Plan.  

NOW, THEREFORE, in consideration of the premises set
forth herein and of the services to be performed by the Director, the Company
and the Director hereby agree to the terms set forth in this Agreement.

1.             PLAN AND AGREEMENT.  All parties
acknowledge that this Agreement and any Award granted hereunder is subject to
the terms of the Plan, which shall govern all rights, interests, obligations,
and undertakings of both the Company and the Director.  Any capitalized term not otherwise defined in
this Agreement shall have the meaning set forth in the Plan.  To the extent that there is any conflict
between the terms of this Agreement and the Plan, the terms of the Plan as
determined, interpreted and applied by the Administrator, shall control to
resolve such ambiguity or conflict.  

2.             STOCK OPTION.  {ONLY USE  THIS OPTIONAL SECTION 2 IF THE AGREEMENT
GRANTS STOCK OPTIONS~~RENUMBER THE REMAINING SECTIONS ACCORDINGLY}  

(a)           OPTION AND EXERCISE PRICE.  Pursuant to
Section 5 of the Plan and subject to the terms of this Agreement, the Company
grants to the Director an Option to purchase                
{INSERT NUMBER OF SHARES SUBJECT TO THE OPTION}
Shares of Common Stock of the Company (the “Option Shares”) at a price of                   
{INSERT EXERCISE PRICE—THE EXERCISE PRICE MAY NOT
EXCEED THE FAIR MARKET VALUE OF THE SHARES AS OF THE GRANT DATE}.  

(b)           TIME OF EXERCISE AND LIMITATIONS. 
Subject to the limitations of this Section and to termination provisions
of Section {INSERT THE SECTION

 1
 

NUMBER FOR THE SECTION TITLED
“TERMINATION OF AWARD”}, the Director may purchase 

 

{OPTION 1—all
or any portion of the Option Shares on or after {INSERT OPTION DATE}.

 

{OPTION 2—up
to {INSERT NUMBER}  of the Option
Shares on or after {INSERT
FIRST OPTION DATE}  and
may purchase the remaining Option Shares on or after {INSERT OPTION DATE}.

 

{OPTION 3—all
or any portion of the “vested” Option Shares, determined according to the
following vesting schedule {INSERT
VESTING SCHEDULE WITH VESTING PERCENTAGES AND VESTING DATE OR SERVICE
REQUIREMENTS}.

 

{OPTION 4—COPY THE INTRODUCTORY
LANGUAGE FROM OPTION 1 OR OPTION 2 upon the
satisfaction of the following Performance Goals: {INSERT PERFORMANCE GOALS—SEE SECTION 12(r) OF THE PLAN}.  

All Options under this
Agreement expire no later than ten (10) years after the date of the grant.  No Options under this Agreement will qualify
as “incentive stock options,” as described in Code section 422(b).

(c)           EXERCISE PROCEDURES. 
The
Director may exercise any Option under this Agreement, in whole or in part,
only with respect to any Option Share for which the right to exercise shall
have accrued pursuant to sub-section (b) above and only so long as Section {INSERT THE NUMBER OF THE SECTION TITLED
“TERMINATION OF AWARD”} does not prohibit such exercise.

(i)            WRITTEN NOTICE.  Any Option under this Agreement may be
exercised only by delivering a written notice to the Company’s Human Resources
Department at Manitowoc, Wisconsin, accompanied by payment of the purchase
price and such additional amount (if any) determined by the Human Resources
Department as necessary to satisfy the Company’s tax withholding obligations,
and such other documents or representations as the Company may reasonably
request to comply with securities, tax or other laws then applicable to the
exercise of the Option.  Delivery may be
made in person, by nationally-recognized delivery service that guarantees
overnight delivery, or by facsimile.  A
notice of Option exercise that is received by the Human Resources Department
after 11:59 P.M. (Central Time) on the date on which such Option expires or terminates
(as provided in Section {INSERT
THE NUMBER OF THE SECTION TITLED “TERMINATION OF AWARD”}) shall
be null and void.

(ii)           PURCHASE PRICE.  No Option Shares shall be
issued until full payment of the purchase price for those Shares has been
received by the Company.  The Director may pay the Option
purchase price described above in one or more of the following forms:  (a)  cash equal to the purchase price
for the Option Shares being purchased; (b) a check payable to the order of the
Company for the purchase price of the Option Shares being purchased; (c)
delivery of Shares of Common Stock (including by attestation) that the Director
has owned for at least six (6) months and have a Fair Market Value (determined
on the date of delivery) equal to the purchase price of the Option Shares being
purchased; (d) delivery (including by facsimile) to the Human Resources
Department of the Company at Manitowoc, Wisconsin, of an executed irrevocable
option exercise form together with irrevocable instructions, in a form
acceptable to 

 2
 

the Company, to a broker-dealer to sell or margin a sufficient portion
of the Shares issuable upon exercise of this Option and deliver the sale or
margin loan proceeds directly to the Company to pay for the exercise price; or
(e) any other form of payment expressly approved, in advance and in writing, by
an authorized Committee representative. 
The Director may satisfy any tax withholding obligation of the Company
arising from the exercise of an Option under this Agreement, in whole or in part,
by paying such tax obligation in cash or by check made payable to the Company,
or by electing to have the Company withhold Shares having a Fair Market Value
on the date of exercise equal to the amount required to be withheld, subject to
such rules as the Committee may adopt. 
In any event, the Company reserves the right to withhold from any
compensation otherwise payable to the Director such amount as the Company
determines is necessary to satisfy the Company’s tax withholding obligations
arising from the exercise of this Option.

{USE THE FOLLOWING
PARAGRAPH IF THE GRANT DATE IS NOT THE DATE OF THIS AGREEMENT.

(d)           GRANT DATE.  The “Grant Date” for all Options under
this Agreement shall be:
                         }

#              RESTRICTED STOCK.  {ONLY USE 
THIS OPTIONAL SECTION IF THE AGREEMENT GRANTS RESTRICTED STOCK~~RENUMBER
THE REMAINING SECTIONS ACCORDINGLY AND IN LIGHT OF WHETHER THE AGREEMENT ALSO
GRANTS STOCK OPTIONS}

(a)           NUMBER OF SHARES.  Pursuant to
Section 6 of the Plan the Company grants to the Director                 
{INSERT NUMBER OF SHARES OF RESTRICTED STOCK}
Shares of Restricted Stock.  

(b)           RESTRICTIONS.   As described
in the “Termination of Award” and the “Non-Transferability” sections below,
each Share of Restricted Stock issued under this Section is subject to
significant forfeiture and transfer limitations.  Each Share of Restricted Stock is not subject
any restrictions or limitations except as set forth in those sections.
Accordingly, there are no restrictions with respect to dividends or voting
rights for any outstanding Shares of Restricted Stock. {NOTE:  IF THE COMPANY WANTS TO, IT  CAN ADD OTHER RESTRICTIONS (e.g., VOTING
RESTRICTIONS, DIVIDEND LIMITATIONS, ETC.)—UNLESS THE COMPANY ADDS SUCH
RESTRICTIONS IN THIS SECTION, THE DIRECTOR WILL HAVE THE RIGHT TO VOTE
THE RESTRICTED STOCK AND TO RECEIVE DIVIDENDS}.

(c)           LAPSE OF RESTRICTIONS. 
Subject to
the limitations of this Section and to the termination provisions of Section {INSERT THE SECTION NUMBER FOR THE SECTION TITLED
“TERMINATION OF AWARD”}. 

{OPTION 1—the
restrictions identified in sub-section (b) shall lapse or expire on {INSERT LAPSE DATE—MUST BE A
LEAST THREE YEARS FROM GRANT DATE}.

{OPTION 2—the
restrictions identified in sub-section (b) shall lapse or expire as to {INSERT NUMBER}  Restricted Stock
Shares on {INSERT FIRST LAPSE DATE—MUST
BE A LEAST THREE YEARS FROM GRANT DATE}  and the restrictions that apply to the
remaining Restricted Stock Shares shall lapse or expire on {INSERT OPTION DATE}.

 3
 

{OPTION 3—the
restrictions identified in sub-section (b) shall lapse or expire as Restricted
Stock Shares according to the following vesting schedule {INSERT VESTING SCHEDULE WITH VESTING PERCENTAGES AND
VESTING DATE OR SERVICE REQUIREMENTS—FIRST VESTING MUST BE A LEAST THREE YEARS
FROM GRANT DATE}.

{OPTION 4—COPY THE INTRODUCTORY
LANGUAGE FROM OPTION 1 OR OPTION 2 upon the
satisfaction of the following Performance Goals: {INSERT PERFORMANCE GOALS—SEE SECTION 12(r) OF THE PLAN}.

While a Share remains
subject to any restrictions pursuant to this Section, the Company may, at the
Committee’s discretion, issue one or more certificates representing such Share
of Restricted Stock, with an appropriate restrictive legend, and/or maintain
possession of the certificate representing the Share of Restricted Stock (with
or without a legend) and/or take any other action that the Committee deems
necessary or advisable to enforce the limitations under this Agreement.  After (i) the restrictions under this Section
have lapsed with respect to a Share of Restricted Stock, (ii) the receipt by
the Company from the Director of the certificate with legend representing such
Share (if such a certificate had been issued to the Director), and (iii) the
receipt by the Company of the payment of the amount (if any) required to be
paid under the terms of the restrictions set forth in this Section, the Company
will deliver to the Director a certificate representing such Share, free of any
legend pertaining to any restrictions under this Agreement, and such Share
shall thereupon be free of all restrictions other than those imposed by
law.  Notwithstanding the foregoing, the
Company shall not be required to deliver any fractional share of Stock but may
pay, in lieu thereof, the Fair Market Value (determined as of the date that the
restrictions lapse) of such fractional Share, to the Director or the Director’s
estate, as the case may be. 

#              RESTRICTED STOCK UNITS.  {ONLY USE  THIS OPTIONAL SECTION IF THE AGREEMENT ALSO
GRANTS RESTRICTED STOCK UNITS~~RENUMBER THE REMAINING SECTIONS ACCORDINGLY AND
IN LIGHT OF WHETHER THE AGREEMENT ALSO GRANTS STOCK OPTIONS AND/OR RESTRICTED
STOCK}

(a)           NUMBER OF UNITS.  Pursuant to
Section 6 of the Plan the Company grants to the Director                    {INSERT NUMBER OF RESTRICTED STOCK UNITS}
Restricted Stock Units.  

(b)           MATURATION OF UNITS. 
Subject to
the limitations of this Section and to the forfeiture and transferability
provisions described in the “Termination of Award” and the
“Non-Transferability” sections below, 

{OPTION
1} the
Restricted Stock Units identified in sub-section (a) shall mature on {INSERT LAPSE DATE—MUST BE A LEAST THREE YEARS FROM
GRANT DATE}.

{OPTION
2—{INSERT NUMBER}  of the
Restricted Stock Units identified in sub-section (a) shall mature on {INSERT FIRST LAPSE DATE—MUST BE A LEAST THREE
YEARS FROM GRANT DATE} and the remaining Restricted Stock Units
identified in sub-section (a) shall mature on {INSERT
OPTION DATE}.

 4
 

{OPTION
3—the
Restricted Stock Units identified in sub-section (a) shall mature according to
the following vesting schedule {INSERT VESTING SCHEDULE
WITH VESTING PERCENTAGES AND VESTING DATE OR SERVICE REQUIREMENTS—FIRST VESTING
MUST BE A LEAST THREE YEARS FROM GRANT DATE}.

{OPTION
4—COPY THE INTRODUCTORY LANGUAGE FROM OPTION 1 OR OPTION 2 upon the satisfaction of the following
Performance Goals: {INSERT PERFORMANCE GOALS—SEE SECTION 12(r)
OF THE PLAN}.  

(c)           ISSUANCE OF SHARES.

{OPTION
1} When any
Restricted Stock Unit matures under sub-section (b), the Company shall
issue a Share of Common Stock to the Director.

{OPTION
2} When any
Restricted Stock Unit matures under this sub-section, the Company shall issue a
Share of Restricted Stock to the Director, subject to such limitations as
established by the Committee at that time {OR “SUBJECT TO THE
FOLLOWING RESTRICTIONS: . . .”}.

Until a Restricted Stock
Unit matures, the Company may issue a certificate or document evidencing such
Restricted Stock Unit in such form and with such legend as the Committee
determines or keep an internal record of such Restricted Stock Unit or take any
other action that the Committee deems necessary or advisable to maintain a
record or such Restricted Stock Unit and to enforce the limitations under this
Agreement.

(d)           RESTRICTIONS.  The Director
shall have no right to vote or earn dividends on any un-matured Restricted
Stock Units {MODIFY THIS SECTION IF THE COMMITTEE GRANTS
SUCH RIGHTS TO THE DIRECTOR}.

#              TERMINATION OF AWARD. 

(a)           Resignation/Removal From Board.  If a Director ceases to be a member of the Board for
any reason other than the Director’s retirement due to reaching the mandatory
retirement age established by the Board, or other than death or disability (as
determined by the Committee), all nonvested Options, all Restricted Stock as to
which all restrictions have not lapsed, and all Restricted Stock Units which
have not yet matured shall be immediately forfeited except as the Committee, in
its sole discretion, shall otherwise determine. 
{NOTE—THE COMMITTEE CAN MODIFY THIS
FORFEITURE PROVISION AT THE TIME THAT THE DIRECTOR LEAVES THE BOARD OR AS PART
OF THIS AWARD AGREEMENT}. 
..  Upon the retirement (due to
reaching the mandatory retirement age established by the Board), death or
disability of the Director, all Options held by the Director shall be fully
vested, all restrictions with respect to Restricted Stock held by the Director
shall immediately lapse, and all Performance Goals with respect to Restricted
Stock Units held by the Director shall be deemed immediately satisfied. All
vested Options (and any non-vested Option or other Award that is not
immediately forfeited under this Section) must be exercised, cease to be
subject to restrictions or mature on or before the earliest of:  (1)
the                     anniversary
{NOTE—CANNOT EXCEED ONE YEAR} of the
date that the Director ceases to be a member of the Board; or (2) that date
that the Award (or limitation) was otherwise set to expire, lapse or
mature.  For purposes
of this sub-section (a), any termination or forfeiture shall be deemed to occur
at 11:59 P.M. (Central Time) on the applicable date described herein.

 5
 

(b)           Fraud/Misconduct. 
Notwithstanding any other provision in the Plan or in this Agreement, if
the Director ceases to be a member of the Board due to any of the following
act(s), then all Awards previously granted to the Director under this or
any other Award Agreement shall immediately be forfeited as of the date of the
first such act:  (1) fraud or intentional
misrepresentation; (2) embezzlement, misappropriation or conversion of
assets or opportunities of the Company or any Affiliate of the Company; or
(3) any other gross or willful misconduct as determined by the Committee,
in its sole and conclusive discretion. 

#              NON-TRANSFERABILITY.  Except as provided in this Section,  Awards granted under this Agreement are not transferable
and they may not be assigned, pledged or mortgaged, including any attempted
transfer by will or by the laws of descent and distribution.  {NOTE—THE COMMITTEE CAN
MODIFY THE PRECEDING LIMITATIONS, BUT ANY SUCH CHANGE MUST BE REFLECTED IN THIS
AGREEMENT}.  During the
lifetime of the Director, such Awards may be exercised only by the Director or
the Director’s legal representative or by the permitted transferee of the
Director as hereinafter provided (or by the legal representative of such
permitted transferee).  The Director may
transfer Awards only to (i) the Director’s spouse, children or grandchildren
(“Immediate Family Members”); (ii) a trust or trusts for the exclusive benefit
of such Immediate Family Members; or (iii) a partnership in which such
Immediate Family Members are the only partners. 
The transfer will be effective only if the Director receives no
consideration for such transfer. 
Subsequent transfers of transferred Awards are prohibited except
transfers to those persons or entities to which the Director could have
transferred such Awards, or transfers otherwise in accordance with this
Section.  Any attempted transfer not
permitted under this Section shall be null and void and have no legal
effect.  The transfer restrictions set
forth in this Section shall not, however, apply to any Shares that the Director
obtains {NOTE—INCLUDE ANY OR ALL OF THE FOLLOWING,
AS APPROPRIATE}: 
(a) after exercising an Option; (b) after all restrictions
lapse on Restricted Stock; or (c) upon maturation of a Restricted Stock
Unit.   

#              REGISTRATION.  If the Company is advised by its counsel that Shares
deliverable under this Agreement are required to be registered under the Securities
Act of 1933 (“Act”) or any applicable state or foreign securities laws, or that
delivery of the Shares must be accompanied or preceded by a prospectus meeting
the requirements of that Act or such state or foreign securities laws, then the
Company will use its best efforts to effect the registration or provide the
prospectus within a reasonable time, but delivery of Shares by the Company may
be deferred until the registration is effected or the prospectus is
available.  The Director shall have no
interest in Shares covered by this Agreement until certificates for the Shares
are issued.

#              ADJUSTMENTS AND CHANGE OF
CONTROL.  The number and type of Shares subject to this
Agreement and any Option exercise price may be adjusted, or this Award may be
completely or partially assumed, cancelled or otherwise changed, in the event of
certain transactions, as provided in the Plan, including, without limitation,
Sections 2(b) and 10 of the Plan.  Upon a
Change of Control, the rules set forth in Section 10 of the Plan shall govern
this Agreement.  The grant of any Award
under this Agreement shall not affect in any way the right or power of the
Company or any of its subsidiaries to make or authorize any or all adjustments,
recapitalizations, reorganizations, or other changes in the Company’s or any
subsidiary’s capital structure or its business, or any merger, consolidation or
business combination of the Company or any subsidiary, or any issuance or
modification of any term, condition, or covenant of any bond, debenture, debt,
preferred stock or other instrument ahead of or affecting the Common Stock or
the rights of the holders of Common Stock, or the dissolution or liquidation of
the 

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Company or any subsidiary, or any sale or transfer of
all or any part of its assets or business or any other Company or subsidiary
act or proceeding, whether of a similar character or otherwise.

#              AMENDMENT OR MODIFICATION. 
Except as expressly provided in the Plan, no term or provision of this
Agreement may be amended, modified or supplemented orally, but only by an
instrument in writing signed by the party against which or whom the enforcement
of the amendment, modification or supplement is sought.

#              LIMITED INTEREST.  The Director shall have no rights as a stockholder as
a result of the grant of any Award under this Agreement until the Director
receives unrestricted Shares issued (via certificate, electronically or by any
other permissible means) {NOTE—INCLUDE ANY OR ALL
OF THE FOLLOWING, AS APPROPRIATE}:  (a) after exercising an Option;
(b) after all restrictions lapse on Restricted Stock; or (c) upon
maturation of a Restricted Stock Unit. 
The grant of any Award and the execution of this Agreement shall not
confer on the Director any right to continue as a member of the Board, nor
interfere in any way with the right of the Company to remove the Director from
the Board at any time.

#              GOVERNING LAW. 
The granting of Awards under this Agreement and the issuance of Shares
in connection with any such Award are subject to all applicable laws, rules and
regulations and to such approvals by any governmental agencies or national
securities exchanges as may be required. 
Notwithstanding any other provision of this Agreement or Plan, the
Company has no liability to deliver any Shares under the Plan or make any
payment unless such delivery or payment would comply with all applicable laws
and the applicable requirements of any securities exchange or similar
entity.  This Agreement and the Plan will
be construed in accordance with and governed by the laws of the State of
Wisconsin, without reference to any conflict of law principles.  Any legal action or proceeding with respect
to this Agreement, to the Plan, to any Award or for recognition and enforcement
of any judgment in respect to this Agreement, to the Plan or any Award may be brought
and determined only in a court sitting in the County of Manitowoc, or the
Federal District Court for the Eastern District of Wisconsin sitting in the
County of Milwaukee, in the State of Wisconsin. 

#              SEVERABILITY.  If any provision of this Agreement, of the Plan or any
Award (a) is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction, or as to any person or Award, or
(b) would disqualify this Agreement, the Plan or any Award under any law
the Committee deems applicable, then such provision should be construed or
deemed amended to conform to applicable laws, or if it cannot be so construed
or deemed amended without, in the determination of the Committee, materially
altering the intent of this Agreement, the Plan or Award, then such provision
should be stricken as to such jurisdiction, person or Award, and the remainder
of this Agreement, the Plan and such Award will remain in full force and
effect.

#              COUNTERPARTS.  This
Agreement may be executed in one or more counterparts, each of which will be
deemed to be an original but all of which together will constitute one and the
same instrument.

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IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed by its duly authorized officer and the Director has
executed this Agreement all as of the day and date first above written.

	
  

  	
  THE MANITOWOC COMPANY, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  {DIRECTOR’S NAME}

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Social Security
  Number

  	
   

  	
   

  

 

 8Exhibit
10.1

 

EXECUTIVE
EMPLOYMENT

AGREEMENT

between

O2 SECURE
WIRELESS, INC.

and

T. SCOTT CONLEY

 

EXECUTIVE
EMPLOYMENT AGREEMENT

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”), dated as of February 23, 2007
(the “Agreement Date”), is entered into between O2 Secure Wireless, Inc., a
Georgia corporation (“Company”), and T. Scott Conley (“Executive”).

WHEREAS,
the Company desires to employ Executive as its Chief Executive Officer upon the
terms and subject to the conditions set forth herein;

NOW,
THEREFORE, in consideration of the premises and the mutual agreements contained
herein, the Company and Executive hereby agree as follows:

ARTICLE I

DEFINITIONS

The
terms set forth below have the following meanings (such meanings to be
applicable to both the singular and plural forms, except where otherwise
expressly indicated):

1.1           “Accrued Annual Bonus” means the
amount of any Annual Bonus earned but not yet paid with respect to the Year
ended prior to the Date of Termination.

1.2           “Accrued Base Salary” means the
amount of Executive’s Base Salary which is accrued but not yet paid as of the
Date of Termination, including any Base Salary the payment of which has been
deferred pursuant to Section 4.2(f), plus any accrued but unpaid interest
thereon.

1.3           “Affiliate” means any Person directly
or indirectly controlling, controlled by, or under direct or indirect common
control with, the Company.  For the
purposes of this definition, the term “control” when used with respect to any
Person means the power to direct or cause the direction of management or
policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise.

1.4           “Anniversary Date” means any annual
anniversary of the Agreement Date.

1.5           “Annualized Total Compensation”
means, as of any date, the sum of Executive’s Base Salary as of such date and
maximum Annual Bonus applicable to the Year that includes such date.

1.6           “Board” means the Board of Directors
of the Company.

1.7           “Cause” means any of the following:

(a)           Executive’s conviction of a felony or
of a misdemeanor involving fraud, dishonesty or moral turpitude; or

(b)           Executive’s willful or intentional
material breach of this Agreement that results in financial detriment that is
material to the Company and its Affiliates taken as a whole.

For
purposes of clause (b) of the preceding sentence, Cause shall not include any
one or more of the following:

(i)            bad judgment;

(ii)           negligence;

(iii)          any act or omission that Executive
believed in good faith to have been in or not opposed to the interest of the
Company (without intent of Executive to gain therefrom, directly or indirectly,
a profit to which he was not legally entitled); or

(iv)          any act or omission of which any
member of the Board who is not a party to such act or omission has had actual
knowledge for at least 12 months.

1.8           “Change of Control” means any
transaction or series of related transactions during the Employment Period
occurring within a nine (9) month period, whereby (i) the beneficial ownership
of more than fifty percent (50%) of the then outstanding common stock of the
Company (or other securities having generally the right to vote for election of
the Board) shall be sold, assigned or otherwise transferred to one Person
(other than an existing shareholder or optionholder who is the holder of at
least ten percent (10%) or more of the common stock of the Company or who, upon
exercise of options for common stock of the Company, would be the holder of at
least ten percent (10%) of the common stock of the Company (“Existing Holder”))
or group of Persons acting together, other than Existing Holders, whether by
sale or issuance of common stock or other securities or otherwise, (ii) the
Company shall sell, assign or otherwise transfer assets (excluding stock or
other securities of Subsidiaries or the grant of licenses to intangible assets
or other sale of assets or inventory in the ordinary course of business) having
a fair market value of more than fifty percent (50%) of the total value of the
assets of the Company to any Person or group of Persons acting together, other
than an Existing Holder, Existing Holders, or a Subsidiary of the Company; or
(iii) any Person or group of Persons acting together, other than an Existing
Holder or Existing Holders, takes control of the Board or otherwise obtains
effective power to direct or cause the direction of management or policies of
the Company.  Notwithstanding the above,
the following shall not constitute a Change of Control:  (a) with respect to subsection (ii) above
only, any conveyance, transfer or grant to an entity a collateral assignment
of, security title to or security interest in any goods, accounts, inventory,
general intangibles or other assets of the Company or any of its subsidiaries
to secure the obligations of the Company or any of its subsidiaries to such
entity, or the exercise of any rights or remedies by such entity after a
default of corporate indebtedness, (b) corporate reorganizations where the
resulting corporate entity or entities are controlled by a majority in interest
of the then current shareholders of the Company, and (c) any of the foregoing
transactions or events if, in advance of such transaction or event, Executive
agrees in writing that such transaction or event shall not constitute a Change
of Control.

1.9           “Code” means the Internal Revenue
Code of 1986, as amended from time to time.

1.10         “Common Stock” means the common stock,
no par value, of the Company.

1.11         “Company” means the company set forth
in the recitals to this Agreement.

1.12         “Date of Termination” means the
effective date of a Termination of Employment for any reason, including death
or Disability, whether by the Company or by Executive.

1.13         “Disability” determination by a
licensed physician that Executive is by reason of physical or mental incapacity
substantially unable with or without accommodations to fulfill his performance
obligations for the Company for a continuous period of six (6) months.  A good faith determination of “substantial”
or “insubstantial” performance shall be made by Company in its discretion.  A Permanent Disability shall be deemed to
commence upon the expiration of such six (6) month period.

1.14         “Fair Market Value” means, as of any
date, (a) if the Common Stock is listed on a national securities exchange such
as NASDAQ, the average of the high and low prices of the Common Stock on such
date reported by such exchange (or, if no sale of the Common Stock was reported
for such date, on the next preceding date on which such a sale of such security
was reported), (b) if the Common Stock is not listed on any national securities
exchange, the average of the high bid and low asked quotations for the Common
Stock on such date in the over-the-counter market (or, if no
quotation of the Common Stock was reported for such date, on the next preceding
date on which such a quotation of such security was reported), or (c) if there
is no public market for the Common Stock, the fair market value of the Common
Stock determined by the Board in the good faith exercise of its discretion.

1.15         “Good Reason” means the occurrence of
any one or more of the following events unless Executive specifically agrees in
writing that such event shall not be Good Reason:

(a)           any material breach of this Agreement
by the Company, including:

(b)           the failure of the Company to comply
with the provisions of Articles II, III, IV, V, VI or VII of this Agreement;

(c)            any material adverse change in the
status, responsibilities or perquisites of Executive;

(d)           any failure to nominate or elect
Executive as Chief Executive Officer of the Company and as a member of the
Board;

(e)           causing or requiring Executive to
report to anyone other than the Board; or

(f)            assignment of duties materially
inconsistent with his position and duties described in this Agreement;

(g)           the failure of the Company to assign
this Agreement to a successor to the Company or failure of a successor to the
Company to explicitly assume and agree to be bound by this Agreement;

(h)           requiring Executive to be principally
based at any office or location more than 20 miles from the Company’s principal
offices at 4898 South Old Peachtree Road, Suite 150 Norcross, GA 30071;

(i)            the delivery to Executive of a
Notice of Consideration pursuant to Section 8.1(b) if, within a period of 90
days thereafter, the Board fails for any reason to terminate Executive for
Cause in compliance with all of the substantive and procedural requirements of
Section 8.1; or

(j)            a Termination of Employment by
Executive for any reason or no reason during the 30-day period commencing
12 months after a Change of Control.

1.16         “including” means including without
limitation.

1.17         “Incurred Expenses” means the amount of
Executive’s Reimbursable Expenses which have been incurred by Executive but
have not yet been reimbursed by the Company as of the Date of Termination,
including any Reimbursable Expenses the reimbursement of which has been
deferred pursuant to Section 6.5, plus any accrued but unpaid interest thereon.

1.18         “Secondary Public Offering” means a
public offering of the Common Stock pursuant to the Securities Act of 1933
after the initial public offering.

1.19         “Option” means an option to purchase
shares of Common Stock.

1.20         “Permitted Transferee” means the spouse
of Executive, a lineal descendant of Executive or a spouse of a lineal
descendant of Executive or a trust, limited partnership or other entity principally
benefiting all or a portion of such individuals.

1.21         “Person” means any individual, sole
proprietorship, partnership, joint venture, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, entity or
government instrumentality, division, agency, body or department.

1.22         “Prorata Annual Bonus” means the
product of (a) the amount of the Annual Bonus to which Executive would have
been entitled if he had been employed by the Company on the last day of the
Year that includes the Date of Termination and if Executive had fully achieved
his performance goals for such Year, multiplied by (b) a fraction of which the
numerator is the number of days which have elapsed in such Year through the
Date of Termination and the denominator is 365.

1.23         “Severance Package” means the benefits
to be received by Executive pursuant to Sections 8.3(b), 8.3(c), 8.3(d) and
8.3(e).

1.24         “Severance Period” means the eighteen
(18) month period following the Date of Termination.

1.25         “Subsidiary” means, with respect to any
Person, (a) any corporation of which more than fifty percent (50%) of the
outstanding capital stock having ordinary voting power to elect a majority of
the board of directors of such corporation (irrespective of whether, at the
time, stock of any other class or classes of such corporation shall have or
might have voting power by reason of the happening of any contingency) is at
the time, directly or indirectly, owned by such Person, and (b) any partnership
in which such Person has a direct or indirect interest (whether in the form of
voting or participation in profits or capital contribution) of more than fifty
percent (50%).

1.26         “Taxes” means the United States
federal, state and local income, excise and other taxes payable by Executive
with respect to any applicable item of income.

1.27         “Tax Gross-Up Payment” means a
payment to Executive from the Company which is intended to reimburse Executive
for certain designated Taxes owing on a particular item of income such that, after
deducting from such payment any and all Taxes which will be owed by Executive
in connection with the receipt of such payment, there remains a balance of such
payment sufficient to pay the Taxes being reimbursed.

1.28         “Termination For Good Reason” means a
Termination of Employment by Executive for a Good Reason, whether during or
after the Employment Period.

1.29         “Termination of Employment” means a
termination by the Company or by Executive of Executive’s employment by the
Company.

1.30         “Termination Without Cause” means a
Termination of Employment by the Company for any reason other than Cause or
Executive’s death or Disability, whether during or after the Employment Period,
including a Termination of Employment at the end of the Employment Period after
the Company’s giving notice as set forth in Section 3.2.

1.31         “Withholding Taxes” means any United
States federal, state, local or foreign withholding taxes and other deductions
required to be paid in accordance with applicable law by reason of compensation
received pursuant to this Agreement.

1.32         “Year” means a calendar year period
ending on December 31.

ARTICLE II

DUTIES

2.1           Employment.  The Company shall employ Executive during the
Employment Period (as defined below) as its Chief Executive Officer.  During the Employment Period, Executive shall
perform the duties properly assigned to him hereunder, shall devote all of his
business time, attention and effort to the affairs of the Company and shall use
his reasonable best efforts to promote the interests of the Company.   It is also contemplated that, in connection
with

each
annual meeting of shareholders (or action by written consent in lieu thereof)
of the Company during the Employment Period, the Board will nominate Executive
for election as a member of the Board, and the shareholders of the Company will
reelect Executive as a member of the Board. 
The Company shall ensure that, under the Company’s Articles of
Incorporation, Bylaws and other corporate documents, Executive and the Company’s
other directors and officers, in discharging their duties to the Company and in
determining what is in the best interests of the Company, (a) are indemnified
in connection with same, (b) are to be advanced and reimbursed expenses
incurred as a result of any legal proceeding in connection with same (including
any proceeding brought by or in the name of the Company), and (c) are to have
limited liability for breach of duty of care or any other similar duty, each of
(a), (b) and (c) to the fullest extent permitted under applicable law.  In addition, the Company agrees to acquire
and maintain at its own expense a commercially reasonable amount of director’s
and officer’s liability insurance coverage to meet the Company’s obligations
pursuant to the preceding sentence and other contingencies to which such
insurance is customarily addressed.

2.2           Other Activities.  Executive may serve on corporate, civic or
charitable boards or committees, deliver lectures, fulfill speaking
engagements, teach at educational institutions, or manage personal investments;
provided that such activities do not individually or in the aggregate
significantly interfere with the performance of his duties under this
Agreement.

ARTICLE III

EMPLOYMENT PERIOD

3.1           Employment Period.  Subject to Section 3.2 and the termination
provisions hereinafter provided, the term of Executive’s employment under this
Agreement (the “Employment Period”) shall begin on the Agreement Date and end
on the Anniversary Date which is five years after such date.  The employment of Executive by the Company
shall not be terminated other than in accordance with Article VIII.

3.2           Extensions of Employment Period.  Commencing on the third Anniversary Date, if
on or before that date the Company has not delivered to Executive, and
Executive has not delivered to the Company, a written notice that the
Employment Period will not be extended, the Employment Period will be
automatically extended each day by one day, until a date which is two years
following the first date, if any, on which the Company delivers to Executive or
Executive delivers to the Company, as the case may be, such a written notice.

ARTICLE IV

COMPENSATION

4.1           Base Salary.

(a)           The Company shall pay Executive in
accordance with its normal payroll practices (but not less frequently than
monthly) an annual salary at the starting rate of $80,000 per year (“Base
Salary”).

(b)           Executive and the Company agree that
the Base Salary shall be increased by a minimum of $5,000.00 on January 1 of
each Year during the Employment Period.

(c)           The Board shall have the right to
increase Executive’s Base Salary by more than $5,000.00 on January 1 of any
Year or by smaller or greater amounts at any other time during any Year in the
sole discretion of the Board.

(d)           Effective as of the date of any such
increase in Base Salary, the Base Salary as so increased shall be considered
the new Base Salary for all purposes of this Agreement and may not thereafter
be reduced.

(e)            Any increase in Base Salary shall not limit or
reduce any other obligation of the Company to Executive under this Agreement.

4.3           Annual Bonus.

(a)           The Company shall pay to Executive an
annual bonus (“Annual Bonus”) in accordance with the terms hereof for each Year
which begins during the Employment Period.

(b)           The maximum amount of Annual Bonus to
be paid to Executive for performance during a given Year, the terms of such
Annual Bonus, and the objective performance criteria for same shall be
determined by the Board within 60 days after the first day of such Year.  Each Year, such terms and conditions shall be
set forth in writing and attached hereto as an exhibit.

(c)           The parties agree that the Annual
Bonus terms and conditions for the Year 2007 are set forth on the attached Exhibit
A.

(d)           The Company shall deliver the Annual
Bonus that is payable with respect to a Year (whether in securities, options,
cash or other compensation, as described in the Annual Bonus exhibit for such
Year) as soon as practicable after the Board determines the extent to which the
performance criteria have been met by Executive.  Any such Annual Bonus shall in any event be
paid/issued within 90 days after the end of the Year.

4.4           Change of Control Bonus.  Upon any Change of Control during the
Employment Period, Executive shall receive a bonus equal to two percent (2%) of
the total value of the consideration actually paid in connection with same
(whether such consideration is paid to the Company or its shareholders, or
both).  The bonus shall be paid to
Executive in accordance with the same payment structure (including, without
limitation, cash, shares of common or preferred stock, debentures or other
securities), payment terms and time period as paid, conveyed or applicable to
the consideration recipient(s) in the Change of Control (whether the Company or
its shareholders, or both) and the Executive shall agree in advance in writing
to submit to such terms and conditions. 
Executive shall not solicit or encourage the sale of the Company or its
assets unless specifically directed by the Board to do so.   Immediately after the Change of Control, the
Company shall also pay to Executive in immediately available funds any amount
payable pursuant to Section 6.7 hereof.

4.5           Secondary Public Offering Bonus.  In the event of any Secondary Public Offering
during the Employment Period pursuant to which a total of at least Twenty
Million Dollars ($20,000,000) is raised, Executive shall receive a cash sum in
the amount of Fifty Thousand dollars ($50,000.00) payable within thirty (30)
days after the completion of such Secondary Public Offering (the “Offering
Bonus”).  Executive may elect in his
discretion to have the Company pay the Offering Bonus into a “rabbi trust” to
be disbursed to him over a period not to exceed ten (10) years; provided,
however, that any such election must be made by Executive in writing at least
five (5) days in advance of consummation of the Secondary Public Offering.  Any unpaid portion of the Secondary Public
Offering Bonus shall be payable to the Executive’s Beneficiaries upon his
death.  Immediately after the Secondary
Public Offering, the Company shall also pay to Executive in immediately
available funds any amount payable pursuant to Section 6.7 hereof.

ARTICLE V

EQUITY COMPENSATION

5.1           Option Grants.  As an inducement to Executive to enter into
this Agreement, the Company hereby grants to Executive, effective as of the
Agreement Date, an Option to purchase 600,000 shares of Common Stock (the “Initial
Option”). In addition to the above, the Board may, but shall not be required
to, at any time in its discretion consider Executive for possible future annual
or other grants of Options (such Options collectively, the “Subsequent Options”)
and, commencing in the Year 2008, shall at least once during each Year consider
Executive for a grant of a Subsequent Option.

5.2           Terms and Conditions of Options.  The Initial Option and any Subsequent Options
shall be incentive stock options pursuant to Code Section 422 and the Company’s
Incentive Compensation Plan, if any.  The
terms and conditions of same shall be set forth in Incentive Stock Option
Agreements to be entered into by and between Executive and the Company and
subject to the terms and conditions of the Plan.

5.3           Manner of Exercise of Options.  Options shall be exercised in accordance with
the applicable Incentive Stock Option Agreements and the Plan.

5.4           Adjustment of Options.  Options shall be adjusted in accordance with
the Plan.

5.5           Transferability. The Options
may not be transferred in any manner except by will or the laws of descent and
distribution and, during the lifetime of Executive, may be exercised only by
Executive.  The terms of the Plan and the
Incentive Stock Option Agreement shall be binding upon the executors,
administrators, heirs, successors and assigns of Executive.

5.6           Registration Rights.

(a)           Executive may at any time before the
first anniversary of the date of any Termination of Employment (other than by
the Company for Cause or by Executive without Good Reason), including a
Termination of Employment as a result of Executive’s death or

Disability,
request in writing that the Company prepare and file as soon as reasonably
practicable and in any event within 30 days after the Company’s receipt of
Executive’s request a registration statement under the Securities Act of 1933 (“Registration
Statement”) to register the offer and sale of shares of Common Stock then owned
by Executive pursuant to a firm-commitment underwritten public
offering.  The Company shall not be
required to undertake more than one registration pursuant to this Section nor shall
it be required to undertake any registration of less than 100,000 shares of
Common Stock.

(b)           Subject to the next sentence of this
paragraph, the Company shall be entitled to postpone, for a reasonable period
of time, the filing or effectiveness of, or suspend the rights of Executive to
make sales pursuant to the Registration Statement otherwise required to be
prepared, filed and made and caused to become effective by it pursuant to this
Section; provided, however, that the duration of such postponement or
suspension may not exceed the earlier to occur of (i) 15 days after the
cessation of the circumstances described in the next sentence of this paragraph
on which such postponement or suspension is based or (ii) 90 days after the
date of the determination of the Board referred to in the next sentence.  Such postponement or suspension may be
effected only if the Board determines that the filing or effectiveness of, or
sales pursuant to, such Registration Statement would (i) materially impede,
delay or interfere with any material financing, offer or sale of securities,
acquisition, corporate reorganization or other significant transaction
involving the Company or any of its Subsidiaries (a “Significant Transaction”)
or (ii) require the Company to make public disclosures or file publicly-available
documents with the Securities and Exchange Commission (the “Commission”) sooner
than otherwise required by applicable securities laws, which disclosure or
filings, as applicable, would materially impede, delay or interfere with any
Significant Transaction or otherwise have a material adverse effect on the
Company and its Subsidiaries taken as a whole; provided, however, that the
Company shall not be entitled to such postponement or suspension more than once
in any 12-month period.

(c)           The Company will use its reasonable
best efforts to cause the Registration Statement to be declared effective on
the date requested by Executive.  The
Company and Executive shall enter into an underwriting agreement containing
customary terms, representations and covenants (including customary
indemnification provisions and customary contribution provisions based on the
relative fault of the parties) with one or more managing underwriters selected
by Executive (subject to the approval of the Company, which approval shall not
unreasonably be withheld).  The Company
shall pay all of the legal, accounting, printing, filing and other fees and
expenses of such registration, except that Executive shall pay all underwriters’
discounts and commissions relating to the sale of his shares of Common Stock
and the fees and disbursements of his legal counsel, if any.  No other securities of the Company except
equity securities to be offered and sold for the account of the Company and any
equity securities of the Company held by any Person having “piggyback”
registration rights pursuant to any contractual obligation of the Company shall
be included in the Registration Statement.

(d)           In addition to the above, each time
the Company proposes to register any of its securities under the Securities Act
of 1933, either for its own account or for the account of others, in connection
with the public offering, including a Secondary Public Offering, of such
securities for cash, on a registration form that would also permit the
registration of securities owned by Executive, the Company shall, each such
time, give the Executive written notice of

such proposal at
least 30 days prior to the filing of a Registration Statement with the
Commission with respect to such registration. 
Upon the written request of Executive given to the Company within twenty
(20) days after delivery of any such notice by the Company, the Company shall
use commercially reasonable efforts to cause to be registered under the
Securities Act of 1933 all the shares of Common Stock then owned by Executive
that Executive has requested be registered.

(e)           In connection with any offering to
which Section 5.6(d) hereof is applicable, the Company will have the right to
select any investment banker(s) and manager(s) to administer such
offering.  If a registration under
Section 5.6(d) is an underwritten primary registration on behalf of the
Company, or an underwritten secondary registration on behalf of other holders
of securities of the Company (or a combined primary offering by the Company and
secondary offering by the Company’s other shareholders), and the managing
underwriters advise the Company in writing that in their opinion the number of
securities requested to be included in such registration exceeds the number
which can be sold at the desired price in such offering, the Company will
include in such registration (i) first, the securities the Company proposes to
sell, (ii) second, the securities requested to be included therein by Executive
and any other holders of securities of the Company who possess registration
rights similar to Executive’s and who desire to include their securities in
such offering, pro rata among Executive and such holders on the basis of the
number of shares requested to be included therein, and (iii) third, all other
securities requested to be included in such secondary registration.

(f)            Executive shall not be entitled to
participate in any underwritten registration pursuant to Section 5.6(d) unless
Executive (i) agrees to sell his securities on the basis provided in any
underwriting arrangements approved by the Company and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, market standoff
agreements, underwriting agreements and other documents required under the
terms of such underwriting arrangements and reasonably requested by the
Company.

ARTICLE VI

OTHER BENEFITS

6.1           Incentive, Savings and Retirement
Plans.  In addition to his other
compensation hereunder, Executive shall be entitled to participate during the
Employment Period in all incentive, savings and retirement plans, practices,
policies and programs that are from time to time applicable to other senior
executives of the Company.

6.2           Welfare Benefits.  During the Employment Period, Executive and his
family, as the case may be, shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and
programs provided by the Company (including medical, prescription, dental,
disability, salary continuance, employee life, group life, dependent life,
accidental death and travel accident insurance plans and programs) applicable
to other senior executives of the Company. Such welfare benefits shall include,
at a minimum, full family medical and dental insurance coverage paid entirely
by Company.

6.3           Fringe Benefits.  During the Employment Period, Executive shall
be entitled to all fringe benefits that are from time to time available to
other senior executives of the Company. The company shall also pay $250.00 per
month car allowance, or equivalent thereof.

6.4           Vacation.  During the Employment Period, Executive shall
be entitled to paid vacation time in accordance with the plans, practices,
policies, and programs applicable to other senior executives of the Company,
but in no event shall such vacation time be less than four (4) weeks per
calendar year.

6.5           Expenses. During the
Employment Period, Executive shall be entitled to receive prompt reimbursement
for all reasonable employment-related expenses incurred by Executive (“Reimbursable
Expenses”) in accordance with practices, policies and procedures applicable to
other senior executives of the Company.

6.6           Office; Support Staff.  During the Employment Period, Executive shall
be entitled to an office or offices of a size and with furnishings and other
appointments, and to personal secretarial and other assistance, appropriate to
his position and duties under this Agreement.

6.7           Tax Gross-Up Payment.  If it shall be determined that any payment to
Executive pursuant to this Agreement or any other payment or benefit from the
Company, any Affiliate, any shareholder of the Company or any other Person
would be subject to the excise tax imposed by Section 4999 of the Code or any
similar tax payable under any United States federal, state, local or other law,
then Executive shall receive a Tax Gross-Up Payment with respect to all
such excise taxes and similar taxes.

ARTICLE VII

ARBITRATION

Any
dispute, controversy or claim arising out of or in connection with, or relating
to, this Agreement or any breach or alleged breach hereof shall, upon the
request of either party, be submitted to, and settled by, arbitration in the
Atlanta, Georgia, pursuant to the commercial arbitration rules then in effect
of the American Arbitration Association (or at any time or at any other place
or under any other form of arbitration mutually acceptable to the
parties).  Any award rendered shall be
final and conclusive upon the parties and a judgment thereon may be entered in
the highest court of the forum, state or federal, having jurisdiction.  The expenses of the arbitration shall be
borne equally by the parties and each party shall pay for and bear the cost of
its own experts, evidence and counsel’s fees, except that in the discretion of
the arbitrator, any award may include the cost of a party’s counsel if the
arbitrator expressly determines that the party against whom such award is
entered has caused the dispute, controversy or claim to be submitted to
arbitration as a dilatory tactic.

ARTICLE VIII

TERMINATION BENEFITS

8.1           Termination for Cause or Other
Than for Good Reason.

(a)           If the Company terminates Executive’s
employment for Cause or Executive terminates his employment other than for Good
Reason, death or Disability, the Company shall pay to Executive immediately
after the Date of Termination an amount equal to the sum of Executive’s Accrued
Base Salary, Accrued Annual Bonus and Incurred Expenses.  Executive shall not be entitled to receive
the Prorata Annual Bonus or the Severance Package.

(b)           The Company may not terminate
Executive’s employment for Cause unless:

(i)            no fewer than 60 days prior to the
Date of Termination, the Company provides Executive with written notice (the “Notice
of Consideration”) of its intent to consider termination of Executive’s
employment for Cause, including a detailed description of the specific reasons
which form the basis for such consideration;

(ii)
          for a period of not less than 30
days after the date Notice of Consideration is provided, Executive shall have
the opportunity to appear before the Board, with or without legal
representation, at Executive’s election, to present arguments and evidence on
his own behalf; and

(iii)          following the presentation to the
Board as provided in (ii) above or Executive’s failure to appear before the
Board at a date and time specified in the Notice of Consideration (which date
shall not be less than 30 days after the date the Notice of Consideration is
provided), Executive may be terminated for Cause only if (x) the Board, by the
affirmative vote of all of its members (excluding Executive if he is a member
of the Board, and any other member of the Board reasonably believed by the
Board to be involved in the events leading the Board to terminate Executive for
Cause), determines that the actions or inactions of Executive specified in the
Notice of Termination constituted occurred, that such actions or inactions
constitute Cause, and that Executive’s employment should accordingly be
terminated for Cause; and (y) the Board provides Executive with a written
determination (a “Notice of Termination for Cause”) setting forth in specific
detail the basis of such Termination of Employment, which Notice of Termination
for Cause shall be consistent with the reasons set forth in the Notice of
Consideration.

(b)           Unless the Company establishes both
(i) its full compliance with the substantive and procedural requirements of
this Section 8.1 prior to a Termination of Employment for Cause, and (ii) that
Executive’s action or inaction specified in the Notice of Termination for Cause
did occur and constituted Cause, any Termination of Employment shall be deemed
a Termination Without Cause for all purposes of this Agreement.

(c)           After providing a Notice of
Consideration pursuant to the provisions of Section 8.1(b), the Board may, by
the affirmative vote of all to its members (excluding for this purpose
Executive if he is a member of the Board, and any other member of the Board
reasonably believed by the Board to be involved in the events issuing the Notice
of Consideration), suspend Executive with pay until a final determination
pursuant to such Section 8.1(b) has been made.

8.2           Termination for Death or
Disability.  If Executive’s
employment terminates during the Employment Period due to his death or Disability,
the Company shall pay to Executive or his Beneficiaries, as applicable,
immediately after the Date of Termination an amount which is equal to the sum
of Executive’s Accrued Base Salary, Accrued Annual Bonus, Incurred Expenses and
Prorata Annual Bonus.  Executive shall
not be entitled in such event to the Severance Package.

8.3           Termination Without Cause or for
Good Reason.  In the event of a
Termination Without Cause or a Termination for Good Reason:

(a)           Executive shall receive, immediately
after the Date of Termination, a lump-sum amount in immediately available
funds equal to the sum of Executive’s Accrued Base Salary, Accrued Annual
Bonus, Incurred Expenses and Prorata Annual Bonus;

(b)           Executive shall receive, immediately
after the Date of Termination, a lump-sum amount in immediately available
funds equal to the total amount (if any) of Executive’s unvested benefits under
any plan or program sponsored by the Company which is forfeited due to
Executive’s employment being terminated, including, for example, payment for
all unused vacation days, which payment shall be calculated as the product of
(i) the number of such unused vacation days, multiplied by (ii) a fraction of
which the numerator is Executive’s Annualized Total Compensation as of the Date
of Termination and the denominator is 365;

(c)           Immediately after the Date of
Termination, a lump-sum amount in immediately available funds equal to
150% of the total amount of Executive’s Annualized Total Compensation (as in
effect immediately prior to the Date of Termination) shall be placed in a “rabbi
trust” by the Company to be disbursed to Executive in equal monthly
installments over the course of the Severance Period; provided, however, that,
if as of the Date of Termination, the Company has insufficient funds to place
such lump-sum amount in such trust, and such financial condition can be
documented by the Company’s bank statements or other evidence reasonably
satisfactory to Executive, then Company shall commence paying Executive such
monthly payments during the Severance Period as would have been disbursed from
the rabbi trust, but shall not have the obligation to place the entire lump-sum
amount in such trust immediately after the Date of Termination;

(d)           Executive shall receive, for the
duration of the Severance Period, the continuation of the benefits (or, if such
benefits are not available, the after-tax economic equivalent thereof)
specified in Sections 6.1 and 6.2 to which Executive was entitled immediately
prior to the Date of Termination (including, at a minimum, full family medical
and dental insurance coverage paid entirely by Company); and

(e)           Executive shall receive, immediately
after the Date of Termination, a lump-sum amount in immediately available
funds of any amount then payable to Executive pursuant to Section 6.7.

8.4           Termination After a Change of
Control. If a Termination Without Cause or a Termination for Good Reason
occurs within sixty (60) days before or one (1) year after a Change of Control,
then Executive shall receive the payments required by Section 8.3.

8.5           Other Termination Benefits.  In addition to any amounts or benefits
payable upon a Termination of Employment hereunder, Executive shall, except as
otherwise specifically provided herein, be entitled to any payments or benefits
provided hereunder or under the terms of any plan, policy or program of the
Company or as otherwise required by applicable law.

ARTICLE IX

RESTRICTIVE COVENANTS

9.1           Non-Solicitation of
Employees; Confidentiality; Non-Competition.

(a)           Executive covenants and agrees that,
at no time during the Employment Period nor during the one-year period
immediately following a Termination of Employment by the Company for Cause or
by Executive other than for Good Reason, death or Disability, will Executive:

(i)            directly or indirectly employ or
seek to employ any person employed at that time by the Company or any of its
Subsidiaries or otherwise encourage or entice any such person to leave such
employment;

(ii)           become employed by, enter into a
consulting arrangement with or agree to perform personal services for a
Competitor (as defined in Section 9.1(b)) located within the state of Georgia
in a capacity similar or identical to the services he provided to the Company
during the Employment Period, or acquire a substantial ownership interest in a
Competitor; or

(iii)          solicit any customers or vendors of
the Company with whom Executive had material contact during the Employment
Period on behalf of or for the benefit of a Competitor.

(b)           For purposes of this Section, “Competitor”
means any Person that sells goods or services which are directly competitive
with those sold by a business that (i) is being conducted by the Company or any
Subsidiary at the time in question and (ii) was being conducted at the Date of
Termination and, for the Company’s most recently-completed fiscal year,
contributed more than 10% of the Company’s consolidated revenues.  Notwithstanding anything to the contrary in
this Section, goods or services shall not be deemed to be competitive with
those of the Company (A) solely as a result of Executive being employed by or
otherwise associated with a business of which a unit is in competition with the
Company or any Subsidiary but as to which unit Executive does not have direct
or indirect responsibilities for the products or services involved or (B) if
the activity contributes less than 10% of the consolidated revenues for the
most recently-completed fiscal year of the business by which Executive is
employed or with which he is otherwise associated.

(c)           Executive covenants and agrees that
at no time during the Employment Period nor at any time within three (3) years
following any Termination of Employment will Executive communicate, furnish,
divulge or disclose in any manner to any Person, or use for the benefit of any
Person other than the Company, any Confidential Information (as defined in
Section 9.1(d)) without the prior express written consent of the Company;
provided, however, that to the extent any Confidential Information constitutes
a Company “trade secret” (as defined in the Georgia Trade Secrets Act, O.C.G.A.
§ 10-1-761(4), as now in effect or hereafter amended), such
obligations shall remain in effect for so long beyond such period as such
information remains a trade secret as so defined.

(d)           For purposes of this Section, “Confidential
Information” shall mean financial information about the Company, contract terms
with vendors and suppliers, customer and supplier lists and data, trade secrets
and such other competitively-sensitive information to which Executive has
access as a result of his positions with the Company, except that Confidential
Information shall not include any information which was or becomes generally
available to the public (i) other than as a result of a wrongful disclosure by Executive,
(ii) as a result of disclosure by Executive during the Employment Period which
he reasonably and in good faith believes is required by the performance of his
duties under this Agreement, or (iii) any information compelled to be disclosed
by applicable law or administrative regulation; provided that Executive, to the
extent not prohibited from doing so by applicable law or administrative
regulation, shall give the Company written notice of the information to be so
disclosed pursuant to clause (iii) of this sentence as far in advance of its
disclosure as is practicable.

9.2           Injunction.  Executive acknowledges that monetary damages
will not be an adequate remedy for the Company in the event of a breach of this
Article IX, and that it would be impossible for the Company to measure damages
in the event of such a breach. 
Therefore, Executive agrees that, in addition to other rights that the
Company may have, the Company shall be entitled to an injunction from a court
of competent jurisdiction preventing Executive from any breach of this Article
IX.

ARTICLE X

MISCELLANEOUS

10.1         Full Settlement.  The Company’s obligation to make the payments
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any circumstances, including set-off,
counterclaim, recoupment, defense or other claim, right or action which the
Company may have against Executive or others. 
In no event shall Executive be obligated to seek other employment or
take any other action to mitigate the amounts payable to Executive under any of
the provisions of this Agreement, nor shall the amount of any payment hereunder
be reduced by any compensation earned as a result of Executive’s employment by
another employer, except that any continued welfare benefits provided for by
Section 6.2 shall not duplicate any benefits that are provided to Executive and
his family by such other employer and shall be secondary to any coverage
provided by such other employer.

10.2         Beneficiary.  If Executive dies prior to receiving all of
the amounts payable to him

in accordance with
the terms of this Agreement, such amounts shall be paid to one or more
beneficiaries (each, a “Beneficiary”) designated by Executive in writing to the
Company during his lifetime, or if no such Beneficiary is designated, to
Executive’s estate.  Such payments shall
be made in a lump sum to the extent so payable and, to the extent not payable
in a lump sum, in accordance with the terms of this Agreement.  Executive, without the consent of any prior
Beneficiary, may change his designation of Beneficiary or Beneficiaries at any
time or from time to time by a submitting to the Company a new designation in
writing.

10.3         Assignment;
Successors.  The Company may not
assign its rights and obligations under this Agreement without the prior
written consent of Executive except to a successor of the Company’s business
which expressly assumes the Company’s obligations hereunder in writing.  This Agreement shall be binding upon and
inure to the benefit of Executive, his estate and Beneficiaries, the Company
and the successors and permitted assigns of the Company.

10.4         Nonalienation.   Benefits payable under this Agreement shall
not be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, charge, garnishment, execution or levy of any
kind, either voluntary or involuntary, prior to actually being received by
Executive or a Beneficiary, as applicable, and any such attempt to dispose of
any right to benefits payable hereunder shall be void.

10.5         Severability.  If one or more parts of this Agreement are
declared by any court or governmental authority to be unlawful or invalid, such
unlawfulness or invalidity shall not invalidate any part of this Agreement not
declared to be unlawful or invalid.  Any
part so declared to be unlawful or invalid shall, if possible, be construed in
a manner which will give effect to the terms of such part to the fullest extent
possible while remaining lawful and valid.

10.6         Captions.  The names of the Articles and Sections of
this Agreement are for convenience of reference only and do not constitute a
part hereof.

10.7         Amendment; Waiver.  This Agreement shall not be amended or
modified except by a written instrument executed by the Company and Executive.  A waiver of any term, covenant or condition
contained in this Agreement shall not be deemed a waiver of any other term,
covenant or condition, and any waiver of any default in any such term, covenant
or condition shall not be deemed a waiver of any later default thereof.

10.8         Notices.  All notices hereunder shall be in writing and
delivered by hand, by a nationally-recognized delivery service that
guarantees overnight delivery, or by first-class, registered or certified
mail, return receipt requested, postage prepaid, addressed as follows:

If
to the Company, to:

4898 South Old Peachtree Road

Suite 150                

Norcross, GA 30071

Attn: Board of Directors

If to Executive, to:

3909 Ashford Dunwoody Rd

Atlanta, GA 30319

Attn:
T. Scott Conley

Either
party may from time to time designate a new address by notice given in
accordance with this Section.  Notice
shall be effective when actually received by the addressee.

10.9         Counterparts.  This Agreement may be executed in several
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

10.10       Entire Agreement.  This Agreement forms the entire agreement
between the parties hereto with respect to the subject matter contained in this
Agreement and, except as otherwise provided herein, shall supersede all prior
agreements, promises and representations regarding employment, compensation,
severance or other payments contingent upon termination of employment, whether
in writing or otherwise.

10.11       Applicable Law.  This Agreement shall be interpreted and
construed in accordance with the laws of the state of Georgia, without regard
to any contrary conflict of laws principles.

10.12       Survival of Executive’s Rights.  All of Executive’s rights hereunder, including
his rights to compensation and benefits, and his obligations under Section 9.1
hereof, shall survive the termination of Executive’s employment and/or the
termination of this Agreement.

[SIGNATURES ON
FOLLOWING PAGE]

IN WITNESS
WHEREOF, the parties have executed this Agreement under seal on the date first
above written.

	
  

  	
  COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  O2 SECURE WIRELESS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ T. Scott Conley

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Printed Name:  T. Scott Conley

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:  President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [CORPORATE SEAL]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  T. SCOTT CONLEY

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ T. Scott Conley 

  	
  (SEAL)

  
						

Exhibit A

YEAR 2007 ANNUAL
BONUS CRITERIA

In the event the
company experiences a gross growth percentage for the one year period beginning
on October 1, 2006 to September 30, 2007 of at least Thirty five percent (35%),
the company agrees to compensate the Executive a bonus in the amount of Ten
Thousand Dollars ($10,000.00). For gross percentages of less than thirty five
percent (35%) no bonus shall be paid. In the event cash flow is not sufficient
to meet the bonus and thirty five percent gross revenue growth has occurred,
the company shall issue stock at the current market value in the same amount.

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