Document:

Exhibit 10.2

    
      

    

    
      EXHIBIT
        10.2

      

      

      COMPENSATION
        AGREEMENT

      

      This
        Compensation Agreement is dated as of February 8, 2007 among Shearson Financial
        Network, Inc. a Nevada corporation (the “Company”), and Gregory Sichenzia
        (“Consultant”).

      

      WHEREAS,
        the Company has requested the Consultant to provide the Company with legal
        services in connection with their business, and the Consultant has agreed
        to
        provide the Company with such legal services; and 

      

      WHEREAS,
        the Company wishes to compensate the Consultant with shares of its common
        stock
        for such services rendered; 

      

      NOW
        THEREFORE, in consideration of the mutual covenants hereinafter stated, it
        is
        agreed as follows:

      

      1.   The
        Company will issue 3,308,207 shares of the Company’s common stock, par value
        $.001 per share, to the Consultant immediately following the filing of a
        registration statement on Form S-8 with the Securities and Exchange Commission
        registering such shares, as set forth in Section 2 below. The shares to be
        issued shall represent consideration for legal services performed by the
        Consultant on behalf of the Company.

      

      2.   The
        above
        compensation shall be registered using a Form S-8. The Company shall file
        such
        Form S-8 with the Securities and Exchange Commission within five business
        days
        of the execution of this agreement.

      

      3.   Upon
        execution of this Compensation Agreement, any and all obligations of either
        of
        the parties arising from the compensation agreement by and between the Company
        and Consultant, dated December 6, 2006, shall, in all respects, be deemed
        to be
        null and void and of no further force and effect. 

      

      

      IN
        WITNESS WHEREOF, this Compensation Agreement has been executed by the Parties
        as
        of the date first above written.

      

      
        	 	
                GREGORY
                  SICHENZIA 

              
	 	 
	 	
                /s/
                  Gregory Sichenzia

              
	 	
                Gregory
                  Sichenzia 

              
	 	 
	 	
                SHEARSON
                  FINANCIAL NETWORK, INC. 

              
	 	 
	 	
                By:
                  /s/
                  Michael A. Barron

              
	 	
                Michael
                  A. Barron 

              
	 	
                Chief
                  Executive OfficerJanuary
      31, 2007

     

    

    Mr.
      Gary
      G. Brandt

    43
      Riverside Crescent

    Toronto,
      Ontario, Canada M6S 1B5

    

    RE:
      Chief
      Executive Officer Role

     

    Dear
      Gary:

    

    Confirming
      our recent discussions regarding Solomon Technologies, Inc. (“Solomon” or the
“Company”),
      the Company is pleased to offer you the position of Chief Executive Officer.
      In
this
      capacity you will have full and complete responsibility for all of the Company’s
      operations and
      will
      report directly to the Board of Directors of the Company. You will be required
      to devote your full business time to the business affairs of the
      Company.

    

    Our
      offer
      of employment to
      you
      consists of the following:

     

     

    
      	
              Base
                Salary:

            	
              $190,000
                per annum paid biweekly in arrears. Additionally,
                you will receive 110,000 restricted shares
                of the Company’s stock as prepaid salary and sign on bonus vesting over
                three (3) years in amounts equal to 50%, 30% and 20% of the total
                shares
                on the first, second and third anniversaries of
                your employment, respectively. If you are terminated by the Company
                without “cause” as defined
                in this letter, 50% of such shares shall vest
                upon termination if the termination occurs before
                your family relocates as layer defined, and all
                shares shall vest if the termination occurs after the
                relocation of your family.

            
	 	 
	 	
              If
                the Company undergoes a “change of control”, as
                defined in this letter, all of your
                unvested

            

    

    

    

    

    1400
      L&R Industrial
      Boulevard

    Tarpon
      Springs, FL 34689

    Office:
      (727) 934-8778

    Fax:
      (727) 934-8779

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      Gary G. Brandt 

    January
      31, 2007 

    Page
      2

     

     

    
      
        	
              	
                restricted
                  shares
                  shall become
                  immediately
                  vested.

              
	 	 
	 	
                Notwithstanding
                  the foregoing, if after your first year
                  of employment with the Company you
                  should
                  cease to be an employee of the Company as a result of your death,
                  any
                  unvested restricted stock
                  shall become fully vested to your estate.

              
	 	 
	
                Vacation:

              	Four (4) weeks per year. 
	 	 
	
                Stock
                  Options:

              	
                Stock
                  options or equivalent for 750,000 common shares, with a strike
                  price equal
                  to the closing price of
                  the Company’s common stock on a day that is no
                  later than one business day prior to your first day
                  of employment and having a term of ten (10) years,
                  of which 500,000 (the “Initial Options”) shall
                  vest in equal installments over three (3) years upon
                  each anniversary of your employment and 250,000
                  (the “Performance Options” and, together with the Initial Options, the
                  “Options”) shall vest only
                  upon
                  the
                  achievement
                  of
                  the
                  2007 Performance
                  Goals (as defined below). Should
                  your
                  employment
                  voluntarily
                  or
                  involuntary
                  terminate
                  without “cause”, the vested Options
                  shall
                  be exercisable to the extent prescribed in the Company’s
                  2003 Stock Option Plan (the “Plan”) and the Option Agreement (as defined
                  below).

              
	 	 
	 	
                Upon
                  your termination for “cause”, as defined herein,
                  all vested and unvested Options will be forfeited. In the event
                  you are
                  terminated without “cause”,
                  you shall immediately vest in one half of any
                  Initial Options that were to vest within twelve (12)
                  months of your termination date and any unvested
                  Performance Options shall be forfeited; provided,
                  however, that if you are terminated without cause after December
                  31, 2007
                  the Performance
                  Options will continue in
                  effect through
                  the completion of the audit of the Company’s 2007 year-end financial
                  statements, whereupon
                  they will vest if the 2007
                  Performance

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
      Mr.
        Gary G. Brandt 

      January
        31, 2007 

      Page
        3

    

    
 

    
      
        	
              	
                Goals
                  have been
                  met
                  and
                  expire
                  if
                  the 2007 Performance
                  Goals have not been met.

              
	 	 
	 	
                If
                  the Company undergoes a “change of control”, which for the purposes of
                  this letter agreement shall mean a sale of all the outstanding
                  common
                  shares
                  to an unrelated third party or a sale of all or substantially
                  all of the assets of the Company, all of
                  your unvested Initial Options shall become immediately
                  vested
                  in accordance with the provisions of the Plan and the Option Agreement
                  and
                  any unvested Performance Options shall be forfeited;
                  provided, however, that if such change of
                  control occurs after December 31, 2007 the Performance
                  Options will continue in
                  effect through
                  the completion of the audit of the Company’s 2007 year-end financial
                  statements, whereupon
                  they will vest if the 2007 Performance Goals
                  have been met and expire if the 2007 Performance
                  Goals have not been met.

              
	 	 
	 	
                The
                  Options will be issued to you as soon as practicable
                  after execution of this letter agreement pursuant
                  to a separate agreement (the “Option Agreement”).

              
	 	 
	 	
                Notwithstanding
                  the foregoing, if after your first year
                  of employment with the Company you should cease to be an employee
                  of the
                  Company as a result
                  of your death, any unvested Initial Options shall
                  be become fully vested to your estate and, if your
                  death occurs prior to the completion of the audit
                  of the Company’s 2007 year-end financial statements,
                  the Performance Options will vest if the
                  2007 Performance Goals have been met and expire
                  if the 2007 Performance Goals have not been
                  met.

              
	 	 
	
                Benefits:

              	Standard benefits offered to all other
                employees.
	 	 
	 	
                The
                  Company agrees to reimburse employee for costs of medical insurance
                  for
                  employee’s family during such time that employee’s family is located
                  in
                  Toronto, Canada, but in no event shall
                  such

              

      

       

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      Mr.
        Gary G. Brandt 

      January
        31, 2007 

      Page
        4

    

     

    

      
        
          	
                	
                  reimbursement
                    exceed $1,000
                    per
                    month,
                    or extend
                    beyond August 30, 2007

                
	 	 
	
                  Bonus:

                	
                  Bonus
                    for the year ending December 31, 2007 of $100,000
                    to be paid on or before March 30, 2008. The
                    bonus will be earned and the Performance Options
                    shall vest upon completion of the audit of the
                    Company’s 2007 year-end financial statements if
                    the Company has achieved the following goals (the
                    “2007 Performance Goals”): (i) annualized sales
                    of $25 million by the end of 2007 calculated by
                    taking the cumulative monthly sales for the fourth
                    quarter of 2007 and multiplying by four (4),
                    and
                    (ii) breakeven annualized cash flow by the end of
                    2007 calculated by adding together the monthly cash
                    flows for the last two (2) months of the year. For
                    years after 2007 you shall be entitled to earn bonuses of at
                    least
                    $100,000 per year, subject to the attainment of such performance
                    goals as
                    may be mutually determined by the Company and you.

                
	 	 
	
                  Car
                    Allowance:

                	
                  A
                    monthly, non-accountable car allowance of
                    $500.00
                    treated as additional compensation.

                
	 	 
	
                  Relocation:

                	
                  The
                    Company shall
                    reimburse employee
                    for relocation
                    expenses associated with employee’s move from Toronto to
                    the location of
                    the Company’s
                    headquarters within the United States as
                    such location shall be determined by the Company
                    in its discretion. Such expenses shall in total
                    not exceed $20,000 and any amount taxable to
                    the employee shall be “grossed up” by the Company.

                
	 	 
	
                  Temporary
                    Living:

                	
                  The
                    Company shall reimburse the employee for temporary living expenses
                    during
                    such time that employee
                    has not moved to
                    the company’s headquarters
                    with the total amount not exceeding $2,500
                    per month. Such expense reimbursement shall
                    be unavailable with respect to expenses
                    incurred after August 30, 2007.

                
	 	 

        

         

      

    

    You
      understand that employment with Solomon is offered for no specific or fixed
      period of time, and
      that
      your employment can be terminated by either you or Solomon at any time,
for
      any

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      Gary G. Brandt 

    January
      31, 2007 

    Page
      5

     

    reason
      or
      no reason, not specifically prohibited by law. Notwithstanding the foregoing,
      if
      the Company
      terminates your employment without “cause”, as defined herein, the Company
agrees
      to
      provide a limited severance of three (3) months salary, initially, plus one
      month of salary for
      each
      month you are employed by the Company subsequent to your first four (4)
      months of employment,
      up to a total of twelve (12) months of salary, which shall be paid in equal
      monthly installments
      in accordance with the Company’s normal payroll practices. No severance
      will be paid
      if a
      termination is for “cause” or if your termination is voluntary. All severance
      payments of
      salary
      shall be made in installments on normally scheduled payroll periods.
Your
      non-compete term,
      subsequent to termination, shall be equal to the time the Company pays
you
      severance, excluding
      for “cause” termination.

    

    Should
      the Company terminate your employment other than for “cause”, you shall, in
      consideration of the Company’s providing you severance as defined elsewhere
in
      this
      letter agreement,
      act as a consultant to the Board of Directors for a period of up to sixty (60)
      days from your
      date
      of termination.

    

    You
      may
      terminate your employment with the Company for “good reason” which,
      for the purposes
      of this letter agreement, shall mean the occurrence of any of the following
      events without your written consent: (i) the Company’s failure to make the
      salary payments required by this
      letter agreement, provide the employment and relocation benefits required by
      this letter agreement, provide the stock or stock option grants required by
      this
      letter agreement, or make the bonus
      payments required by this letter agreement, except as otherwise permitted by
      this
      letter agreement; or (ii) the relocation of the Company’s office to which you
      are required to report to a location
      not (A) within the geographic area bounded to the west by the Mississippi River
      and to the
      east,
      north and south by the borders of the United States or (B) the area of Canada
      that is
      within
      two hundred (200) miles of the United States’ northern border, or (iii) a
      material change in
      title
      and reduction in level of responsibility. To effect a termination by you for
      “good reason” you
      must
      give the Company six (6) months’ prior written notice of your intention to
terminate
      your
      employment for “good reason”, which notice shall describe in reasonable detail
      the alleged
      breach
      of
      the Company’s obligations to you. If the Company fails to cure the breach within
those
      six
      (6) months or negotiate a new arrangement satisfactory to you and the Company,
      then
      your
      employment with the Company shall be terminated for “good reason” and you
shall
      be
entitled
      to all severance provisions provided elsewhere in this letter agreement for
      termination other
      than for “cause”, except that you shall receive severance of nine (9) months
      salary payable in
      equal
      monthly installments in accordance with the Company’s normal payroll practices.
      Notwithstanding the foregoing, nothing in this paragraph shall prohibit the
      Company from exercising
      its rights to terminate your employment for “cause” or otherwise, as described
      in this
      letter agreement.

    

    For
      the
      purposes of this letter agreement, “cause” shall
      mean gross negligence, gross misconduct, breach
      of
      fiduciary duty to the Company or its shareholders, indictment or arrest for
      any
      criminal offenses
      by you, your failure to attempt in good faith to perform any of your
      responsibilities as
      an
      officer of the Company, which failure causes a material adverse effect on the
      Company, or
      your
      material breach of the Company’s then effective insider trading policy, code of
      ethics or

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Mr.
      Gary G. Brandt 

    January
      31, 2007 

    Page
      6

     

    other
      policies applicable to employees and/or executive officers. In the case
of
      your
      material breach
      of
      the Company’s then effective insider trading policy, code of ethics or other
      applicable policies,
      the Company shall first give you ten business days’ notice of the grounds
      constituting cause, describing in reasonable detail the date, place and
      underlying facts constituting cause.
      If
you
      do
      not cure such alleged breach, if such breach is curable, within ten (10)
      business days following
      your receipt of such notice, in the discretion of the Company’s Board of
      Directors you
      may
      be
      terminated for “cause”.

    

    The
      Company acknowledges that you may retain your Board seat with ePower Synergies,
      Inc.,
      provided
      it does not conflict with your responsibilities at the Company.

    

    As
      a
      condition of your engagement, you will be required to sign a copy of the
      Company’s Proprietary
      Rights and Non Competition Agreement, on your start date with us. A copy of
      such
agreement
      is attached to this letter. You
      will
      also be required to comply with the Company’s insider
      trading policy, code of ethics and other policies applicable to
      executive officers and employees
      as in effect from time to time. Copies of the Company’s current insider trading
      policy and code of ethics are attached to this letter agreement.

    

    As
      an
      executive officer of the Company you will enjoy the indemnification
      provided by applicable law and by the Company’s certificate of incorporation and
      by-laws and any Directors and Officer liability insurance as in effect from
      time
      to time.

    

    By
      signing this letter agreement, you (i) represent that (A) you have the right
      to
      enter into this
      letter
      agreement and the Company’s Proprietary Rights and Non Competition Agreement,
and
      (B)
      you
      do not have any obligations to any other person or entity that are in conflict
      with your
      obligations
      under this letter agreement or the Company’s Proprietary Rights and
      Non
Competition
      Agreement, and (ii) agree (A) that you will not render any services to the
      Company that will result in a conflict with any prior agreements that you may
      have or had with third parties, (B) that you will maintain the confidential
      status of information that
      is
      subject to a confidentiality
      obligation you have
      with
      a third party (a “Third Party Confidentiality
      Obligation”)
      and will not reveal the same to the Company, and (iii) agree to indemnify and
      defend
      the Company and its directors, officers and other Affiliates (as defined in
      the
      Company’s Proprietary
      Rights and Non Competition Agreement) against any and all claims, settlements,
      penalties,
      damages, expenses, attorneys’ fees, costs and judgments obtained
      against, imposed upon
      or
      suffered by the Company or any of its directors, officers or other Affiliates
      by
      reason of
      the
      possession or use by the Company or any of its directors, officers or other
      Affiliates of
      any
such
      information, but only if the Company or any such directors, officers
or
      other
      Affiliates received
      such information as a result of a breach by you of a Third Party Confidentiality
      Obligation.

    

    This
      offer is conditioned on our completing an investigation of your background
      and
      checking your
      references, as required by the Company in it sole discretion. This letter
      agreement shall
      be
governed
      by and construed in accordance with the laws of the State of New York, without
      regard to choice of law provisions.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Mr.
      Gary G. Brandt 

    January
      31, 2007 

    Page
      7

     

     

    We
      are
      pleased that you have decided to join Solomon. There are many challenges ahead
      which together
      we can translate into a successful venture for all.

    

    Please
      acknowledge your agreement and acceptance of the terms of this letter
      agreement by signing where indicated below and returning an original for my
      files. We are looking forward to your starting with Solomon on February 5,
      2007.

     

    
 

    Very
      truly yours,

    SOLOMON
      TECHNOLOGIES, INC.

     

    /s/
      Peter W.
      DeVecchis                     

    Peter
      W.
      DeVecchis 

    President

     

    /s/
      Gary
      G.
      Brandt                    

    Acknowledged
      and Agreed 

    Gary
      G.
      Brandt

     

    31
      January
      2007                        

    Date

    

    
      	Cc:	
              Gary
                M. Laskowski, Chairman 

            

    

    Ralph
      Norton, Esquire

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