Document:

EXHIBIT 10.2

 Exhibit 10.2 
 AMENDMENT No. 2 TO CONVERTIBLE PROMISSORY NOTE 
 This Amendment No. 2 (this
“Amendment”) to the Convertible Promissory Note (as defined below) is made as of April 21, 2006 by and between E-centives, Inc., a Delaware corporation (the “Company”), and US Venture 05, Inc. (the
“Holder”). 
 WHEREAS, on September 30, 2005, the Company issued a convertible promissory note in the principal
amount of US $1,000,000 to the Holder, as amended by Amendment No. 1, dated December 31, 2005 (as amended, the “Convertible Promissory Note”); and 
 WHEREAS, the Company and the Holder desire to amend the Convertible Promissory Note in accordance with the terms and conditions hereof.

 NOW THEREFORE, in consideration of the mutual covenants contained herein the parties hereto agree as follows: 
 1. Amendment: Section 1 of the Convertible Promissory Note is hereby amended and restated in its entirety to read as follows: 
 1. Payment Terms. “The Company promises to pay to Holder the balance of Principal, together with accrued unpaid interest, on
September 30, 2006, unless this Note is earlier prepaid as herein provided or earlier converted into Series C preferred stock, par value US $0.01 per share, of the Company (the “Series C Preferred Stock”) pursuant to
Section 3 hereof. All payments hereunder shall be made in lawful money of the United States of America. Payment shall be credited first to the accrued interest then due and payable and the remainder to Principal.” 
 2. Representations and Warranties. To induce the Holder to enter into this Amendment, the Company represents and warrants to the Holder that,
after giving effect to this Amendment, the representations and warranties set forth in Section 6 of the Convertible Promissory Note are true and correct in all material respects on and as of the date hereof. 
 3. Effectiveness. This Amendment shall become effective as of the date first set forth above when the Company shall have received counterparts of
this Amendment that, when taken together, bear the signatures of the Company and the Holder. 
 4. No Other Modifications. Except as
specifically modified herein, all of the terms and conditions of the Convertible Promissory Note shall continue in full force and effect and are hereby ratified and affirmed. 
 5. Capitalized Terms. All capitalized terms used in this Amendment and not otherwise defined shall have the meanings assigned to them in the
Convertible Promissory Note. 
 6. Governing Law; Counterparts. This Amendment shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Maryland, without reference to conflicts of law provisions of such state. This Amendment may be executed in counterparts and the executed counterparts shall together constitute a single instrument.

 7. Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or
other authority to be invalid, void or unenforceable, the remainder of 

  

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the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. 
 8. Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect
the meaning hereof. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed and delivered
as of the date first written above. 
  

			
	E-centives, Inc.
		
	 By:
	 	/s/ Kamran Amjadi
	 Name:
	 	 Kamran Amjadi

	 Title:
	 	 Chairman & CEO

  

			
	 ACCEPTED AND AGREED:

	
	US Venture 05, Inc.
		
	By:	 	 /s/ Peter Friedli

	 Name:
	 	 Peter Friedli

	 Title:
	 	 President

  

 3EXHIBIT 10.3

 Exhibit 10.3 
 AMENDMENT No. 1 TO CONVERTIBLE PROMISSORY NOTE 
 This Amendment No. 1 (this
“Amendment”) to the Convertible Promissory Note (as defined below) is made as of April 21, 2006 by and between E-centives, Inc., a Delaware corporation (the “Company”), and US Venture 05, Inc. (the
“Holder”). 
 WHEREAS, on January 26, 2006, the Company issued a convertible promissory note (the
“Convertible Promissory Note”) in the principal amount of US $500,000 to the Holder; and 
 WHEREAS, the Company and
the Holder desire to amend the Convertible Promissory Note in accordance with the terms and conditions hereof. 
 NOW THEREFORE, in
consideration of the mutual covenants contained herein the parties hereto agree as follows: 
 1. Amendments: 
 Section 1 of the Convertible Promissory Note is hereby amended and restated in its entirety to read as follows: 
 1. Payment Terms. “The Company promises to pay to Holder the balance of Principal, together with accrued unpaid interest, on
September 30, 2006, unless this Note is earlier prepaid as herein provided or earlier converted into Series C preferred stock, par value US $0.01 per share, of the Company (the “Series C Preferred Stock”) pursuant to
Section 3 hereof. All payments hereunder shall be made in lawful money of the United States of America. Payment shall be credited first to the accrued interest then due and payable and the remainder to Principal.” 
 Section 3(a) of the Convertible Promissory Note is hereby amended to delete the reference to “Premium and” and Section 12 of the
Convertible Promissory Note is hereby amended to delete all references to “Premium.” 
 2. Representations and Warranties.
To induce the Holder to enter into this Amendment, the Company represents and warrants to the Holder that, after giving effect to this Amendment, the representations and warranties set forth in Section 6 of the Convertible Promissory Note are
true and correct in all material respects on and as of the date hereof. 
 3. Effectiveness. This Amendment shall become effective as
of the date first set forth above when the Company shall have received counterparts of this Amendment that, when taken together, bear the signatures of the Company and the Holder. 
 4. No Other Modifications. Except as specifically modified herein, all of the terms and conditions of the Convertible Promissory Note shall
continue in full force and effect and are hereby ratified and affirmed. 
 5. Capitalized Terms. All capitalized terms used in this
Amendment and not otherwise defined shall have the meanings assigned to them in the Convertible Promissory Note. 
 6. Governing Law;
Counterparts. This Amendment shall be governed by, and construed and interpreted in accordance with, the laws of the State of Maryland, without reference to conflicts of 

  

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law provisions of such state. This Amendment may be executed in counterparts and the executed counterparts shall together constitute a single instrument.

 7. Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or
other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 8. Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 [Signature Page Follows] 
  

 2 

 IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed and delivered
as of the date first written above. 
  

			
	E-centives, Inc.
		
	By:	 	/s/ Kamran Amjadi
	Name:	 	Kamran Amjadi
	Title:	 	Chairman & CEO

  

			
	ACCEPTED AND AGREED:
	
	US Venture 05, Inc.
		
	By:	 	/s/ Peter Friedli
	Name:	 	Peter Friedli
	Title:	 	President

  

 3Non-Employee Directors' Compensation Summary

 Exhibit 10-s-1 
 NON-EMPLOYEE DIRECTORS’ COMPENSATION SUMMARY 
 Our non-employee directors receive a retainer at the rate of
$85,000 per year for service on our board of directors, payable in cash (in quarterly installments of $21,250 at the beginning of each quarter). This structure is effective for existing directors commencing in October 2006 and is effective upon
appointment for any new director (prorated as appropriate). 
 Under the 2006 Long-Term Incentives Plan, which has been approved by our shareowners (the
“Plan”), each director will have the option each year to determine whether to defer all or any part of the cash portion of his or her retainer by electing to receive additional restricted stock units of our common stock valued at the
closing price of our common stock on the New York Stock Exchange Composite Transactions reporting system on the date the cash portion of the retainer payment would otherwise be paid. 
 Under the Plan, each non-employee director is granted 3,000 restricted stock units of our common stock effective upon election as a director. In addition, each non-employee director is granted 1,500 restricted stock
units of our common stock on an annual basis immediately after each annual meeting of our shareowners beginning with the shareowners’ meeting following the first anniversary of Board service. 
 An Audit Committee annual fee will be paid to the Audit Committee Chairman at a fixed annual rate of $10,000 and the other Audit Committee members (excluding the
Chairman) at a fixed rate of $5,000 each to be paid in cash (quarterly in advance). Each Audit Committee member (including the Chairman) will have the option each year to determine whether to defer all or any part of his or her Audit Committee
annual fee by electing to receive additional restricted stock units of our common stock valued at the closing price of our common stock on the New York Stock Exchange Composite Transactions reporting system on the date the cash retainer payment
would otherwise be paid. 
  

 31Exhibit 10.A

 EXHIBIT (10)(a) 
 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 

 Consent of Independent Registered Public Accounting Firm 
 We consent to the reference to our firm under the caption “Independent Registered Public Accounting Firm” in the Statement of Additional Information and to the
use of our reports: (1) dated February 17, 2006, with respect to the statutory-basis financial statements and schedules of Western Reserve Life Assurance Co. of Ohio, and (2) dated February 3, 2006, with respect to the Western
Reserve Life Separate Account VA V, which is available for investment by contract owners of the WRL Freedom Multiple Variable Annuity, included in Post-Effective Amendment No. 3 to the Registration Statement (Form N-4 No. 333-112089) under
the Securities Act of 1933 and related Prospectus of WRL Freedom Multiple Variable Annuity. 
 /s/ Ernst & Young
LLP 
 Des Moines, Iowa 
 April 24, 2006

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