Document:

Acquisition Pledge and Escrow Agreement - Final

Exhibit 10.3

EXHIBIT B

ACQUISITION PLEDGE AND ESCROW AGREEMENT

THIS ACQUISITION PLEDGE AND ESCROW AGREEMENT (this “Escrow Agreement”) is made and entered into effective as of April 30, 2008 (the “Effective Date”), by and among ARIEL WAY, INC., a Florida corporation (the “Pledgor”), Melody Mayer, Heath Hill and Charles Warren (individually, a “Pledgee,” and collectively, the “Pledgees”) and Leggett & Clemons, PLLC, as escrow agent (the “Escrow Agent”).  This Agreement is entered into pursuant to the terms of Acquisition Promissory Notes issued to the Pledgees pursuant to the terms of the Agreement and Plan of Merger by and among the Pledgor, Lime Truck Acquisition Corporation, a Delaware corporation (the “Buyer Sub”), Lime Media, LLC, a Texas limited liability company, the Pledgors, and Lime Truck, Inc.1, a Texas corporation, dated of even date herewith (the “Merger Agreement”).  Defined terms used herein shall have the same meaning as set forth in the Merger Agreement, unless otherwise indicated.

RECITALS:

WHEREAS, on even date herewith, pursuant to Section 1.7(b) of the Merger Agreement, the Pledgor issued to each of the Pledgees an Acquisition Promissory Note, and the aggregate principal amount of all of such Acquisition Promissory Notes is Seven Hundred Ninety Two Thousand Five Hundred U.S. Dollars and 00/100 ($792,500.00) (individually, a “Note,” and collectively, the “Notes”), a copy of the form of which is attached as Exhibit D to the Merger Agreement; and

WHEREAS, pursuant to the terms of the Notes, the Pledgor is obligated to make certain payments to the Pledgees, as more particularly set forth in the Notes; and

WHEREAS, in order to secure the Pledgor’s obligations under the Notes, the Pledgor has agreed to pledge to the Pledgees One Hundred (100) shares (the “Shares”) of common stock of the Buyer Sub, which Shares representing all authorized, issued and outstanding shares of common stock of Buyer Sub; and

WHEREAS, pursuant to Section 1.12 of the Merger Agreement, the Pledgees have the right to exercise a Repurchase Option upon the occurrence of certain events.

NOW, THEREFORE, in consideration of the mutual covenants, agreements, warranties, and representations herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

1 To be amended to reflect the name change to Lime Media Group, Inc. or such variation as approved by the Texas Secretary of State.  

TERMS AND CONDITIONS

1.

Pledge and Transfer of Pledge Shares.  

1.1.

The Pledgor hereby grants to the Pledgees a full security interest (including the contractual right to repurchase the Shares as stated herein) in the Shares beneficially owned by the Pledgor as security for the Pledgor’s obligations under the Notes.  Simultaneously with the execution of this Escrow Agreement and the closing of the transactions contemplated under the Merger Agreement, Pledgor shall deliver to the Escrow Agent stock certificates representing the Shares, together with duly executed stock powers or other appropriate transfer documents executed in blank by Pledgor (the “Transfer Documents”), and such stock certificates and Transfer Documents shall be held by the Escrow Agent until the full payment of all amounts due to the Pledgees under the Notes or the closing of the repurchase of the Shares by the Pledgees pursuant to Section 1.12 of the Merger Agreement.

1.2.

The Pledgor hereby grants the Pledgees a further security interest in any stock rights, rights to subscribe, stock dividends, new securities, or other property (excluding cash dividends) to which the Pledgor is or may hereafter become entitled to receive on account of the Shares originally pledged hereunder.  In the event the Pledgor receives additional property of such nature (the “Additional Pledged Property”), the Pledgor shall immediately deliver such Additional Pledged Property to the Escrow Agent to be held by the Escrow Agent in the same manner and on the same terms as the Shares originally pledged hereunder.

2.

Title to Pledged Shares.  From the Effective Date, subject only to the security interest of Pledgees created hereunder, the Pledgor shall be the legal and record owner of the Shares, and shall be entitled to vote the Shares, to receive dividends and other distributions thereon, and to enjoy all other rights and privileges incident to the ownership of the Shares, subject to the restrictions herein.  Upon the occurrence of an Event of Default as defined below, the Pledgees shall be entitled to vote the Shares, to receive dividends and other distributions thereon, and to enjoy all other rights and privileges incident to the ownership of the Shares and to repurchase the Shares pursuant to Section 1.12 of the Merger Agreement.

3.

Release of Shares from Pledge.  Upon the consummation of the Second Closing and the full payment and settlement of all the amounts due to the Pledgees under the Notes, the parties hereto shall notify the Escrow Agent to such effect in writing.  Upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents, the certificates representing the Shares, and any Additional Pledged Property (collectively, the “Pledged Materials”), whereupon any and all rights of Pledgees in the Pledged Materials shall immediately terminate. (Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgees under the Notes, this Escrow Agreement and Pledgees’ security interests and rights in and to the Shares, shall terminate.)

4.

Event of Default.  An “Event of Default” shall be deemed to have occurred under this Escrow Agreement upon an Event of Default under the Notes.

5.

Remedies.  Upon the occurrence of an Event of Default, the Pledgees shall provide written notice of such default (the “Default Notice”) to the Escrow Agent, with a copy to the Pledgor. As soon as practicable after receipt of the Default Notice, the Escrow Agent shall deliver to the Pledgees the Pledged Materials held by the Escrow Agent hereunder, whereupon the Pledgees may exercise all rights and remedies of secured parties with respect to such property as may be available in the State of Texas.

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6.

Exercise of Repurchase Option.  In addition to their rights and remedies under Section 5, in the event of the occurrence of an Event of Default or the occurrence of any other event set forth in Section 1.12(a) of the Merger Agreement, the Pledgees may jointly elect to repurchase the Shares pursuant to Section 1.12 of the Merger Agreement and shall in such a case notify the Pledgor in writing (with a copy to the Escrow Agent) of their repurchase election in accordance with such section. Upon receipt of joint written notice of the occurrence of the Repurchase Option Closing in accordance with the terms of the Merger Agreement from the Pledgor and Pledgees, the Escrow Agent shall immediately release the Pledged Materials to the Pledgees whereupon this Escrow Agreement shall terminate and shall have no further force and effect. 

7.

Concerning the Escrow Agent.

7.1.

The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no implied duties or obligations shall be read into this Escrow Agreement against the Escrow Agent.

7.2.

The Escrow Agent may act in reliance upon any writing or instrument or signature which it, in good faith, believes to be genuine, may assume the validity and accuracy of any statement or assertion contained in such a writing or instrument, and may assume that any person purporting to give any writing, notice, advice or instructions in connection with the provisions hereof has been duly authorized to do so.  The Escrow Agent shall not be liable in any manner for the sufficiency or correctness as to form, manner, and execution, or validity of any instrument deposited in this escrow, nor as to the identity, authority, or right of any person executing the same; and its duties hereunder shall be limited to the safekeeping of such certificates, monies, instruments, or other document received by it as such escrow holder, and for the disposition of the same in accordance with the written instruments accepted by it in the escrow.

7.3.

The Pledgees and the Pledgor hereby agrees to defend and indemnify the Escrow Agent and hold it harmless from any and all claims, liabilities, losses, actions, suits, or proceedings at law or in equity, or any other expenses, fees, or charges of any character or nature which it may incur or with which it may be threatened by reason of its acting as Escrow Agent under this Escrow Agreement; and in connection therewith, to indemnify the Escrow Agent against any and all expenses, including attorneys’ fees and costs of defending any action, suit, or proceeding or resisting any claim (and any costs incurred by the Escrow Agent pursuant to Sections 7.4 or 7.5 hereof).  The Escrow Agent shall be vested with a lien on all property deposited hereunder, for indemnification of attorneys’ fees and court costs regarding any suit, proceeding or otherwise, or any other expenses, fees, or charges of any character or nature, which may be incurred by the Escrow Agent by reason of disputes arising between the makers of this escrow as to the correct interpretation of this Escrow Agreement and instructions given to the Escrow Agent hereunder, or otherwise, with the right of the Escrow Agent, regardless of the instructions aforesaid, to hold said property until and unless said additional expenses, fees, and charges shall be fully paid.  Any fees and costs charged by the Escrow Agent for serving hereunder shall be paid by the Pledgor.

7.4.

If any of the parties shall be in disagreement about the interpretation of this Agreement, or about the rights and obligations, or the propriety of any action contemplated by the Escrow Agent hereunder, the Escrow Agent may, at its sole discretion deposit the Pledged Materials with the District Clerk of the State District Court in Dallas County, Texas and, upon notifying all parties concerned of such action, all liability on the part of the Escrow Agent shall fully cease and terminate.  The Escrow Agent shall be indemnified by the Pledgor and Pledgees for all costs, including reasonable attorneys’ fees in connection with the aforesaid proceeding, and shall be fully protected in suspending all 

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or a part of its activities under this Agreement until a final decision or other settlement in the proceeding is received.

7.5.

The Escrow Agent may consult with counsel of its own choice (and the costs of such counsel shall be paid jointly and severally by Pledgor and the Pledgees) and shall have full and complete authorization and protection for any action taken or suffered by it hereunder in good faith and in accordance with the opinion of such counsel.  The Escrow Agent shall not be liable for any mistakes of fact or error of judgment, or for any actions or omissions of any kind, unless caused by its willful misconduct or gross negligence.

7.6.

The Pledgor shall, upon written request by the Pledgees or the Escrow Agent, do or cause to be done all such acts or things and/or execute or cause to be executed all such documents as the Pledgees or Escrow Agent, as the case may be, may reasonably consider necessary or desirable to assure that the Pledgees receive full title to the Shares in the case the Pledgees has repurchased or will repurchase the Shares pursuant to Section 1.12 of the Merger Agreement and/or the full benefit of this Escrow Agreement.

8.

Conflict Waiver. Pledgees acknowledge and agree that the Escrow Agent is solely representing the Pledgor in connection with this Agreement and the Notes and Pledgees waive any objection it might have with respect to the Escrow Agent acting as the Escrow Agent pursuant to this Agreement.

9.

Notices.  Unless otherwise provided herein, all demands, notices, consents, service of process, requests and other communications hereunder shall be in writing and shall be delivered in person or by overnight courier service, or mailed by certified mail, return receipt requested, addressed:

		
	If to the Pledgor:

	Ariel Way, Inc.

	 
	8000 Towers Crescent Drive

	 
	Suite 1220, Vienna, VA

	 
	Attention:  Chief Executive Officer

	 
	Telephone:  +1 703 624 8042

	 
	Facsimile:    +1 703 991 0841

	 
	 

	With a copy to:

	Babirak Carr, P.C.

	 
	1920 L Street, N.W.

	 
	Suite 525

	 
	Washington, D.C.  20036

	 
	Attention:  Neil R.E. Carr, Esq.

	 
	Telephone:  +1 202 467-0916 (Direct Dial)

	 
	Facsimile:    +1 202 318-4486

	 
	 

	If to the Pledgees:

	Melody Mayer

Health Hill

Charles Warren

	 
	2805 Singleton Street

	 
	Rowlett, TX 75088

	 
	Attention:

Heath Hill

	 
	Facsimile:    

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	If to the Escrow Agent:

	Leggett & Clemons, PLLC

	 
	 2745 Dallas North Parkway

	 
	Suite 310

	 
	Plano, TX  75093

	 
	Attention: Tandy Jouret

	 
	Telephone: 214-473-8686

Any such notice shall be effective (a) when delivered, if delivered by hand delivery or overnight courier service, or (b) ten (10) days after deposit in the United States mail, as applicable.

10.

Binding Effect.  All of the covenants and obligations contained herein shall be binding upon and shall inure to the benefit of the respective parties, their successors and assigns.

11.

Governing Law; Venue; Service of Process.  The validity, interpretation and performance of this Agreement shall be determined in accordance with the laws of the State of Texas applicable to contracts made and to be performed wholly within that state except to the extent that Federal law applies.  The parties hereto agree that any disputes, claims, disagreements, lawsuits, actions or controversies of any type or nature whatsoever that, directly or indirectly, arise from or relate to this Agreement, including, without limitation, claims relating to the inducement, construction, performance or termination of this Agreement, shall be brought in the state district  courts located in Dallas County, Texas, and the parties hereto agree not to challenge the selection of that venue in any such proceeding for any reason, including, without limitation, on the grounds that such venue is an inconvenient forum.  The parties hereto specifically agree that service of process may be made, and such service of process shall be effective if made, pursuant to Section 8 hereto.

12.

Enforcement Costs.  If any legal action or other pro­ceeding is brought for the enforcement of this Escrow Agreement, or because of an alleged dispute, breach, default or misrepresenta­tion in connection with any provisions of this Escrow Agreement, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees, court costs and all expenses even if not taxable as court/arbitration costs (including, without limita­tion, all such fees, costs and expenses incident to appeals), incurred in that action or proceeding, in addition to any other relief to which such party or parties may be entitled.

13.

Remedies Cumulative.  No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or here­after existing at law, in equity, by statute, or otherwise.  No single or partial exercise by any party of any right, power or remedy hereunder shall preclude any other or further exercise thereof. 

14.

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

15.

No Penalties.  No provision of this Escrow Agreement is to be interpreted as a penalty upon any party to this Escrow Agreement.

[THE REMAINDER OF THIS PAGE IS LEFT BLANK INTENTIONALLY.]

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IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written. 

			
	 
	 
	MELODY MAYER

	 
	Signed:

	/s/ Melody Mayer 

	 
	 
	 

	 
	 
	 

	 
	 
	HEATH HILL

	 
	Signed:

	/s/ Heath Hill     

	 
	 
	 

	 
	 
	 

	 
	 
	CHARLES WARREN

	 
	Signed:

	/s/ Charles Warren

	 
	 
	 

	 
	 
	 

	         

	ARIEL WAY, INC. 

	 
	 
	  

	 
	By:  

	/s/ Arne Dunhem

	 
	Name: 

Title: 

	 Arne Dunhem

Chairman and CEO

	 
	 
	 

	 
	 
	 

	 
	 
	ESCROW AGENT

	 
	By:  

	/s/ Tandy Jouret

	 
	Name: 

Title: 

	Tandy Jouret

6Employment Agreement

Exhibit 10.4

EXHIBIT I

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”) is made and entered into effective as of the Effective Time (the filing of the Certificate of Merger as set forth herein) by and between Lime Truck Acquisition Corporation, a Delaware corporation (“Employer”) and a wholly-owned subsidiary of Ariel Way, Inc., a Florida corporation, and Melody Mayer (“Employee”), with reference to the following facts:

A.

Employer and Employee (through her association with Lime Media, LLC, a Texas limited liability company (“Lime Media”), among others, are parties to an Agreement and Plan of Merger, dated April 28, 2008 (the “Merger Agreement”), pursuant to which Lime Media, located at 2805 Singleton Street, Rowlett, Texas 75088 (the “Premises”), agreed to merge with and into the Employer upon the terms and conditions set forth in the Merger Agreement (the “Merger”).  

B.

In connection with the transactions contemplated by the Merger Agreement, Employer desires to employ Employee and Employee is willing to accept such employment, in each case, for the purposes and on the terms and conditions hereinafter described.

C.

Capitalized terms not defined herein shall have the meaning ascribed thereto in the Merger Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and conditions set forth below, and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows:

1.

Employment.  Employer hereby employs Employee to provide services at the Premises and to provide services as required by Employer and described in Section 2 hereof and Employee hereby accepts such employment upon the terms set forth in this Agreement. Employee shall perform her duties and responsibilities to the best of her abilities in a diligent, trustworthy, businesslike and efficient manner.

2.

Services.

2.1

Duties.

2.1.1

During the Term (as defined in Section 3.1) hereof, Employee shall hold the title “Chief Operations Officer” of Employer, successor to Lime Media, and shall provide the professional services necessary to continue the management and daily operations of Employer.  With respect to all matters, Employee shall operate under the direction and supervision of the Chief Executive Officer or the designee of the Chief Execu­tive Officer or the Board of Directors of Employer.  Employee shall perform or cause to be performed such services as are generally performed and as are substantially consistent with the services performed by Employee at Lime Media prior to the Merger.

2.1.2

Employee shall, with the assistance of personnel hired by Employer, cause to be kept and maintained complete and accurate records of all the business transactions conducted at the Premises, and shall continue to operate Employer in a substantially similar manner as previously conducted by Lime Media prior to the Merger.  

2.2

Hours.  During the Term, Employee shall work five (5) days per week at an average of forty (40) hours per week during normal business hours on a schedule mutually agreed upon by the parties, at the Premises.

3.

Term.

3.1

Term.  Unless earlier terminated as provided herein, the term of this Agreement shall commence on the date of the execution hereof and shall continue in full force and effect for a period of six (6) months from the date hereof (“Initial Term”).  Following the expiration of the Initial Term, the term of this Agreement shall be extended automatically for successive additional twelve (12) month periods (each a “Renewal Period”) unless terminated prior thereto by the Employer or the Employee as provided herein.  If the Employer or the Employee does not wish to renew this Agreement when it expires at the end of the Initial or any Renewal Period as provided herein or if either the Employer or the Employee wishes to renew this Agreement on different terms than those contained herein, the Employer or the Employee shall give written notice in accordance herewith of such intent to the other party at least 30 days prior to the expiration date (“Prior Written Notice”). Notwithstanding the foregoing, upon the expiration of the Initial Term and during any Renewal Period, the employment of Employee will be on an at-will basis and such employment may be terminated at any time by either party, either with or without cause, and without prior notice. The at-will nature of the employment relationship that will be in effect upon expiration of the Initial Term and during any Renewal Period, as applicable, cannot be changed except in writing signed by the Chief Executive Officer of Employer.  The parties expressly agree that designation of a Term and a Renewal Term in this Agreement does not in any way limit the right of the parties to terminate this Agreement at any time as provided herein.  Reference in this Agreement to the “Term” of this Agreement shall refer to both the Initial Term and any Renewal Period, as the context requires.

3.2

Termination.  This Agreement shall terminate upon the earlier to occur of (i) the expiration of the Initial Term or any Renewal Period upon delivery of Prior Written Notice in accordance with Section 3.1 above, or (ii) upon the termination at any time, with or without cause, of Employee’s at-will employment following the expiration of the Initial Term and during any Renewal Period, or (iii) upon the death or Disability of Employee, or (iv) during the Initial Term, upon thirty (30) days prior written notice from Employer to Employee of the termination of Employee’s employment for “cause” (as defined below).

For purposes hereof, “cause” shall include (i) any conviction of Employee for the violation of any criminal statute constituting a felony; (ii) gross misconduct in the performance of Employee’s duties hereunder; (iii) the failure by Employee to follow or comply with the policies and procedures of Employer or its parent, Ariel Way, Inc. (“Ariel Way”), or the written directives of the Board of Directors of Employer; provided that such policies, procedures or directives are consistent with Employee’s duties hereunder and provided that such failure continues after Employee receives written notice from Employer concerning such failure and such failure is not cured within ten (10) business days; or (iv) the violation by Employee of any material provision of this Agreement.

For purposes hereof, “Disability” shall mean that by reason of physical or mental disability, Employee will be unable to perform the regular duties of employment under this Agreement for a continuous period of ninety (90) days.

4.

Compensation, Vacation and Benefits. During the Term, for all services the Employee performs hereunder, the Employer shall compensate and pay or provide the Employee, and the Employee will receive, the following compensation and benefits:

4.1

Salary.  A base salary in the amount of Eight Thousand Five Hundred Dollars ($8,500) per month (the “Salary”) to be paid on a monthly basis in accordance with the Employer’s customary payroll practices.

4.2

Bonus.

   Employee shall participate in an annual performance bonus plan, for an additional up to 50% of the Salary per year, subject to achieving certain gross margin performance 

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metrics per targets and objectives set forth in Exhibit A hereto and incorporated herein by reference thereto. 

4.3

Time Off.  Employee will be entitled to two (2) weeks paid vacation after six (6) months and an additional one (1) week paid vacation after twelve (12) months for a total of three (3) weeks annually.  

4.4

Benefit Plans.  Employee shall be entitled to participate in all operative individual employee benefit and welfare plans of Employer as then in effect.  Employee shall be entitled to participate in Ariel Way’s ordinary Executive Stock Option plan as filed with the Securities and Exchange Commission.  Notwithstanding the foregoing, nothing contained herein shall, in any manner whatsoever, require or obligate Employer to adopt or implement, or to prevent, preclude or otherwise prohibit Employer from amending, modifying, curtailing, discontinuing or otherwise terminating any Benefit Plan at any time.    Employee acknowledges that, in order to maintain eligibility for healthcare benefits, Employee must work on a full-time basis, which means that Employee must work an average of 32 hours per week during any rolling four week period (it being understood that Employee is not penalized in such regard for vacation and other time off provided for herein).  

4.5

Expenses.

Employee shall be entitled to reimbursement for cell phone, Sprint air computer card, and gas reimbursement for travel related to the business operation of the Employer, subject to such reasonable documentation and other limitations as may be established by the policies of the Employer from time to time. 

5.

Termination of Employment.  If Employee terminates employment for any reason (either as a result of a breach or otherwise), then Employer’s obligations under this Agreement shall cease immediately and permanently.  Employer shall pay Employee such compensation owed as of the date of termination on the next payday following the month of such termination.  This termination shall be in addition to any and all remedies available to Employer at law or in equity resulting from such breach.

6.

Miscellaneous.

6.1

Successors and Assigns.  This Agreement ­shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  No party may assign any of its rights, or delegate any of its duties or obligations, under this Agreement without the prior written consent of the other party, and any such purported assignment or delegation shall be void.  Notwithstanding the foregoing, Employer, its affiliates, and its succes­sors and assigns, may assign its rights and delegate its duties to any successor entity resulting from any liquidation, merger, con­solidation, reorganization, or trans­fer of all or substantially all of the assets or stock of Employer, but such assignment and delegation shall not release the original party from such obligations and duties if the assignee/transferee fails to honor such obligations and duties.

6.2

Notices.  All notices, demands and other communications (collectively, “Notices”) given or made pursuant to this Agreement shall be in writing and shall be deemed to have been duly given if sent by registered or certified mail, return receipt requested, postage and fees prepaid, by overnight service with a nationally recognized “next day” delivery company such as Federal Express or United Parcel Service, or otherwise actually delivered to the following addresses:

(a)

if to Employer:

Ariel Way, Inc.

8000 Towers Crescent Drive, Suite 1220

Vienna, VA 22182

Attn: Chief Executive Officer

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(b)

if to Employee:

Melody Mayer

2805 Singleton Street

Rowlett, Texas 75088

Any Notice shall be deemed duly given when received by the addressee thereof, provided that any Notice sent by registered or certified mail shall be deemed to have been duly given two (2) business days from the date of deposit in the United States mail, unless sooner received.  Any of the parties to this Agreement may from time to time change its address for receiving Notices by giving written notice thereof in the manner set forth above.

6.3

Amendment; Waiver.  No provision of this Agreement may be waived unless in writing signed by all of the parties to this Agreement, and the waiver of any one provision of this Agreement shall not be deemed to be a waiver of any other provision.  This Agreement may be amended only by a written agreement executed by all of the parties to this Agreement.

6.4

Governing Law.  This Agreement shall be governed by and construed both as to validity and performance and enforced in accordance with the laws of the State of Texas without giving effect to the choice of law principles thereof.

6.5

Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.  A party may deliver this Agreement by transmitting a facsimile of this Agreement signed by such party to the other party, which facsimile signature shall be deemed an original for all purposes.

6.6

Remedies Cumulative.  Each of the various rights, powers and remedies shall be deemed to be cumulative with, and in addition to, all the rights, powers and remedies which each party may have hereunder or under applicable law relating hereto or to the subject matter hereof, and the exercise or partial exercise of any such right, power or remedy shall constitute neither an exclu­sive election thereof nor a waiver of any other such right, power or remedy.

6.7

Headings.  The section and subsection headings con­tained in this Agreement are included for convenience only and form no part of the agreement between the parties.

6.8

Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be or become prohibited or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Agreement.

6.9

Expenses.  Each party shall pay its own costs and expenses, including, without limitation, the fees and expenses of their respective counsel and financial advisors. 

6.10

Entire Agreement.  This Agreement, including the Merger Agreement, Collateral Agreements and other agreements and schedules to be entered into in connection with the transactions contemplated by the Merger Agreement, constitutes and embodies the entire understanding and agreement of the parties hereto relating to the subject matter hereof and there are no other agreements or understandings, written or oral, in effect between the parties relating to such subject matter except as expressly referred to herein.

[THE REMAINDER OF THIS PAGE IS LEFT BLANK INTENTIONALLY.]

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IN WITNESS WHEREOF, the parties hereto have duly executed this Employment Agreement as of the date first above written.

			
	 
	EMPLOYEE

	 
	 
	  

	 
	 
	 

	 
	 
	/s/ Melody Mayer

	 
	 
	Melody Mayer

	 
	 
	 

	 
	 
	 

	 
	Lime Truck Acquisition Corporation,

a Delaware corporation 

	 
	 
	 

	 
	 
	/s/ Arne Dunhem

	 
	By:  

	Arne Dunhem

	 
	Its:  

	President

	 
	 
	 

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EXHIBIT A

BONUS CRITERIA

6

Employment Agreement

Exhibit A

Bonus Criteria

Bonus.

   Employee shall participate in an annual performance bonus plan, for an additional up to 50% of the Salary per year, subject to achieving certain gross margin performance metrics per targets and objectives set forth and incorporated herein in accordance with the Exhibit F - Business plan attached to the Agreement and Plan of Merger.  The actual bonus criteria will be paid based upon a 30% increase in the net profit of 2008 Pro Forma.

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