Document:

Contract No.:

 

Labour          Contract

 

Party A (Employer): Jiangsu Law Insurance Broker Co., Ltd.

 

Party B (Employee):  TSAI, SHIU-FANG

 

Supervised by Tongzhou Municipal Bureau of Labour and Social Security

 

This contract is concluded by and between Party A and Party B in accordance with the “Labor Law”, “Jiangsu Province Labour Contract Regulations” and other relevant laws and regulations, in the principles of equality, voluntariness, consensus through negotiation and good faith, to establish labour relations and define the rights and obligations of each party, and all the terms and conditions of this contract shall be observed by both parties.

 

  

  

  

	
I.

	
Before signing this labour contract, both parties shall carefully read the terms and conditions and have a good knowledge of the rights and obligations stipulated by this contract.

 

	
II.

	
Contract Term

 

	
1.

	
Labour contract, according to “Labour Law”, may be signed as a fixed-term labour contract, a non-fixed term labour contract or a task-oriented labour contract. Either of the said terms may be chosen upon the agreement by both parties with ticking “√” in the corresponding box and be filled with related contents.  Multiple choices or no choice will result in the invalid contract.

 

	
  

	
√(1) Fixed-term contract: from 2011/01/01 (Y/M/D) to 2012/12/31 (Y/M/D), lasts for 2 year(s). The probation is 0 month(s), from ___month, ____day, _____year to____ month, ____day, _____year.

 

	
  

	
 (2) Non-fixed term contract: from ___month, ____day, _____year to the occurrence of a statutory termination condition, such as termination of legal person of Party A, Party B reaching retired age, death of Party B or other termination conditions agreed by both parties.

 

	
  

	
 (3) Task-oriented contract: the job (task) content, requirements, acceptance and other issues shall be separately stipulated in the appendix of contract.

 

	
2.

	
The employing unit shall notify the intent of termination or renewal to the employee in written form within thirty (30) days prior to the expiration of contract. The formalities for termination or renewal shall be gone through by the parties at the expiring date of contract.

 

	
3.

	
Upon the expiration of contract, neither renewal contract being signed nor termination formalities being gone through, Party B continues to do the job assigned by Party A, which shall be deemed that the parties, under the original conditions excepted the contract term, agree and continue to perform the labour contract. The employee may dissolve the labour relation at any time; however, the employer shall dissolve the labour relation by giving the employee a thirty (30) days prior written notice.

 

	
III.

	
Job Content

 

	
1

	
Party A employs Party B to engage in CFO post.

 

	
2

	
The job responsibility and the requirements of  production (work) quantity and quality shall be subject to relevant regulations of Party A. In case there is a Post (Appointment) Contract, the content shall not be in conflict with this contract, and the incompatible parts shall be invalid. Party B shall complete the work assigned by Party A according to this contract on time and in required quality and quantity.

 

	
IV.

	
Working Hours & Leave

 

	
1

	
Following working hours systems may be chosen by Party A with ticking “√” in the corresponding box, otherwise, the standard working hours system shall be defaulted as agreed by the parties.

 

√(1) Standard working hours system;

 

   (2) Non-fixed working hours system;

 

   (3) Cumulative working hours system.

  

  

  

	
2

	
During the contract period, Party B has the right to enjoy the statutory holidays, public holidays, home leave, marriage leave, funeral leave, family planning leave and other paid leave.

 

	
V.

	
Labour Remuneration

 

	
1

	
Party A may determine the payment distribution forms and pay level legally as per the production and management features and the economic benefit of itself. The salary paid by Party A for the normal labour provided by Party B shall be no less than the local minimum salary or the pay level stipulated in the collective contract.

 

	
2

	
During the probation period, Party B’s monthly salary is___. After that, the monthly salary is RMB 4800. Party A shall pay salary to Party B on October 1st of each year, as the appendix says.

 

	
VI.

	
Labour Protection  and Labour Condition

 

	
1

	
As is required by law, Party A shall provide required labour condition and labour instruments to Party B, establish and improve manufacturing practices /work specifications and guarantee that Party B enjoys his/her labour rights and perform his/her labour obligations.

 

	
2

	
Party A shall establish the labour safety and hygiene system, provide necessary labour protective devices as per the labour safety and hygiene conditions stipulated by the state, provide labour safety and hygiene education to Party B to avoid accidents, reduce occupational hazards and ensure safe and civilized production.

 

	
3

	
Party B shall receive the management and position skill training provided by Party A, constantly improve the professional qualities and labour skills and strictly abide by the safety operation specifications.

 

	
4

	
According to the relevant national provisions, female employee and underage employee shall have the right to enjoy special labour protection.

 

	
VII.

	
Labour Discipline

 

	
1

	
Party A shall formulate and improve labour discipline rules and regulations according to the laws, and the content shall not conflict with the state laws, regulations or policies. Party B shall strictly abide by the said labour discipline rules and regulations.

 

	
2

	
The rules and regulations formulated by Party A shall be in accordance with legal procedure and be known to Party B by public notification or other ways.

 

	
VIII.

	
Social Insurance and Benefits

 

	
1

	
Both parties shall take part in various social insurance and pay social insurance premiums according to the law. Party A will deduct Party B’s social insurance premium from his/her salary and pay off on his/her behalf.

 

	
2

	
Party A shall create conditions to improve collective welfare and provide Party B with better welfare treatment. The treatment for Party B due to work-related disability, occupational disease and death and the treatment of Party B due to non-work related injury, disease and death shall be implemented by Party A according to the state laws, regulations and other relevant provisions.

 

  

  

  

	
IX.

	
Labour Contract Modification Cancellation and Termination

 

	
1

	
The parties may modify the partial content of the labour contract if they so agree after consultations, the amended provisions shall be recorded in written form. The party shall respond to the modification request in writing within fifteen (15) days since receiving it,  if no rely is made after the time limit expires, it shall be deemed that the party does not agree to modify the labour contract, unless otherwise specified by both parties.

 

	
2

	
This contract may be canceled based on both parties’ mutual negotiation.

 

	
3

	
According to the provision of Clause25, Clause 26 and Clause 27 of “Labour Law”, Party A may cancel the labour contract with Party B. In case that Party B meets any condition stipulated by Clause 29 of “Labour Law”, Party A shall not cancel the contract, unless Party B meet the conditions stipulated by Clause 25 of “Labour Law”.

 

	
4.

	
Party B may cancel the contract by giving a thirty (30) days’ prior written notice to Party A. However, in case there is any condition stipulated by Clause 32 of “Labour Law” or Clause 33 of “Jiangsu Province Labour Contract Regulations”, Party B may notify Party A for cancelling the contract at any time.

 

	
5.

	
The labour contract terminates when the term of contract expires or other terminal conditions agreed by both parties occur.

 

	
6.

	
Party A shall carry out related procedure for transferring the labour relations of Party B after the cancellation and termination of labour contract. In case Party A fails to carry out the said procedure on time, which affects the re-employment or getting unemployment benefit of Party B, Party A shall pay one month’s salary to Party B for per each delayed month according to the local minimum salary standard.

 

	
X.

	
Liability for Breach

 

	
1

	
Both parties may make an agreement of liquidated damages for the breach of contract, the amount of liquidate damages shall be determined according to the labour reward of employee, in the principle of fairness.

 

	
2

	
The liquidate damages against employee only applies to the two circumstances below:

 

	
  

	
(1)

	
The employee breaches the agreement of service period;

 

	
  

	
(2)

	
The employee breaches the agreement of keeping trade secrets or the non-competition agreement.

 

	
XI.

	
Trade Secret

 

	
1

	
At the post of ___CFO_________ (this obligation is valid for Party B unless the blanket is filled), Party B may possess the trade secrets of Party A with unknown to public, bringing economic efficiency and having practical value, and Party A has taken adequate measures to protect these secrets. Party B shall undertake the obligation of keeping the trade secrets.

 

	
2

	
Party B shall cancel the contract by giving a six (6) months’ prior written notice to Party A during the contract period, Party A may adjust his/her post in time to protect the trade secret and the contract may be cancelled after the six months; Party B shall agree that he/she will not use any trade secret of Party A after this contract term and in subsequent three years, nor disclose the trade secrets of Party A to any third party (including person and organization) in any form, unless receiving the written permission from Party A. In case that Party B breaches this agreement,   Party B shall pay RMB __20.000,00____ to Party A as compensation.

 

  

  

  

	
3

	
Where Party B breaches the contract, Party A has the right to initiate the labor disputes arbitration. Since Party A requires Party B to fulfill the contract, Party A shall pay confidential compensation ___20.000,00_____yuan to Party B at the same time of termination or cancellation of this contract (the annual economic compensation shall be no less than one third of the total remuneration that the employee has received from employing unit during the twelve months before he/she leaving the employing unit). In case that Party A Party B shall not undertake any obligation of confidentiality.

 

XII. Other terms and conditions observed by both parties

 

	
1.

	
Both parties shall abide by the national family planning policy, and the employer shall guarantee the employee’s right of family planning.

 

	
2.

	
This agreed salary shall be paid for once on October 1st of each year by cash.

 

3.

 

4.

 

XIII. Other issues not mentioned herein shall be subject to the relevant laws and provisions of Jiangsu Province or the state; if no such provision exists, the issues shall be solved by negotiation.

 

XIV. Labour dispute resolutions

 

	
1.

	
Any disputes arising from the execution of the contract may be settled through friendly consultations between both parties, through a mediation or arbitration, or instituting a legal proceeding against the arbitral award.

 

	
2.

	
After a labour dispute arises, the arbitration shall be submitted to the Labour Dispute Arbitration Committee within sixty days, counting from the day the dispute occurs.

 

XV. This contract may not be altered or signed by other unauthorized units, any alteration or substituted signature shall be deemed invalid. This labour contract shall be verified by the labour administrative department within one month since the execution of signature and seal by both parties hereto.

 

XVI. This contract is served in duplicates, each party holding one copy. Any of the two parties cannot hold the both copies, in case there is any different interpretation of contract, the interpretation to the benefit of the party not holding contract shall prevail.

 

	
Party A (signature/seal): Jiangsu Law Insurance Broker Co., Ltd.

 

Legal Representative or Entrusted Agent:

	
Party B (signature): TSAI, SHIU-FANG

	
Date:

	
Date:  January 1st, 2011

Verified by Labour Contract Verification Organization         Verification Personnel:

 

Verification Organization (seal)

 

Date:Unassociated Document

Exhibit 10.1

THIS AGREEMENT (this “Agreement”), dated October 25, 2011 is entered into by and between NEOMEDIA TECHNOLOGIES, INC., a Delaware corporation (the “Company”), and YA GLOBAL INVESTMENTS, L.P. (the “Investor”).

 

WHEREAS:

 

	
A.  

	
Reference is made to certain financing arrangements entered into by and between the Company and certain of its former and/or current subsidiaries (collectively, the “Obligors”) and the Investor, evidenced by, among other things, the documents, instruments, and agreements listed on Exhibit X attached hereto and incorporated herein by reference (collectively, together with all other documents, instruments, and agreements executed in connection therewith or related thereto, the “Existing Financing Documents”).

 

	
B.  

	
Reference is also made to the Securities Purchase Agreement (the “Securities Purchase Agreement”) dated as of May 27, 2010, between the Company and the Investor pursuant to which the Company has issued and the Investor has purchased the Convertible Debentures and Warrants.  All capitalized terms used but not defined herein shall have the meaning ascribed thereto in the Securities Purchase Agreement.

 

	
C.  

	
The parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor, as provided herein, and the Investor shall purchase (i) a $450,000 secured convertible debenture in the form attached hereto as “Exhibit A” (the “Tenth 2011 Convertible Debenture”, which shall be deemed to be included in the term Convertible Debentures), which shall be convertible into Common Stock (as converted such shares of Common Stock, shall be Conversion Shares), and (ii) warrants substantially in the form attached hereto as “Exhibit B” (the “Tenth 2011 Warrants”, which shall be deemed to be included in the term Warrants and together with this Agreement, the Tenth 2011 Convertible Debenture, the Existing Financing Documents and all other documents, instruments and agreements executed in connection therewith or related thereto, the “Financing Documents”), to acquire up to 1,000,000 additional shares of Common Stock (as exercised, such shares of Common Stock shall be Warrant Shares) which shall be funded on the date hereof (the “Tenth 2011 Closing”) for a total purchase price of $450,000, (the “Tenth 2011 Purchase Price”).

 

	
D.  

	
In order to induce the Company to issue and the Investor to purchase the Tenth 2011 Convertible Debenture and the Tenth 2011 Warrants, the parties desire to enter into this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants and other agreements contained in this Agreement the Company and the Investor hereby agree as follows:

 

  

  

  

1. Purchase and Sale of Tenth 2011 Convertible Debenture and Tenth 2011 Warrants.

 

(a) Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, the Investor agrees to purchase at the Tenth 2011 Closing and the Company agrees to sell and issue to the Investor at the Tenth 2011 Closing, the Tenth 2011 Convertible Debenture and Tenth 2011 Warrants.

 

(b) The Tenth 2011 Closing shall take place at 10:00 a.m. Eastern Standard Time on the same business day as the date hereof, subject to notification of satisfaction of the conditions to the Tenth 2011 Closing set forth in this Agreement (or such other date as is mutually agreed to by the Company and the Investor).  The Tenth 2011 Closing shall occur at the offices of Yorkville Advisors, LLC, 101 Hudson Street, Suite 3700, Jersey City, New Jersey 07302 (or such other place as is mutually agreed to by the Company and the Investor).

 

(c) Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, on the day of the Tenth 2011 Closing, (i) the Investor shall deliver to the Company such aggregate proceeds for the Tenth 2011 Convertible Debenture and Tenth 2011 Warrants to be issued and sold to such Investor at the Tenth 2011 Closing, minus the fees to be paid directly from the proceeds thereof as set forth herein, and (ii) the Company shall deliver to the Investor the Tenth 2011 Convertible Debenture and Tenth 2011 Warrants duly executed on behalf of the Company.

 

2. Representations and Warranties of Investor.

 

(a) The representations and warranties of the Investor set forth in Section 2 of the Securities Purchase Agreement are hereby incorporated by reference with such changes necessary to relate to this Agreement as if set forth in their entirety herein (the “Investor Representations and Warranties”).  For the avoidance of doubt, in the Investor Representations and Warranties references to “Securities” shall be deemed references to the Tenth 2011 Convertible Debenture, the Tenth 2011 Warrants and the shares of Common Stock issuable upon conversion or exercise thereof, references to “Conversion Shares” shall be deemed to reference the shares of Common Stock issuable upon conversion of the Tenth 2011 Convertible Debenture, references to “Warrant Shares” shall be deemed to reference the shares of Common Stock issuable upon exercise of the Tenth 2011 Warrants and any reference to “Transaction Documents” shall be deemed to include a reference to this Agreement, the Tenth 2011 Convertible Debenture and the Tenth 2011 Warrants.

 

(b) The Investor hereby represents and warrants that except as may otherwise be disclosed on a disclosure schedule attached hereto, the Investor Representations and Warranties are true and correct on the date hereof (except for Investor Representations and Warranties that speak as of a specific date).

 

3. Representations and Warranties of the Company.

 

(a) The representations and warranties of the Company set forth in Section 3 of the Securities Purchase Agreement are hereby incorporated by reference with such changes necessary to relate to this Agreement as if set forth in their entirety herein (the “Company Representations and Warranties”).  For the avoidance of doubt, in the Company Representations and Warranties references to “Securities” shall be deemed references to the Tenth 2011 Convertible Debenture, the Tenth 2011 Warrants and the shares of Common Stock issuable upon conversion or exercise thereof, references to “Conversion Shares” shall be deemed to reference the shares of Common Stock issuable upon conversion of the Tenth 2011 Convertible Debenture, references to “Warrant Shares” shall be deemed to reference the shares of Common Stock issuable upon exercise of the Tenth 2011 Warrants and any reference to “Transaction Documents” shall be deemed to include a reference to this Agreement, the Tenth 2011 Convertible Debenture and the Tenth 2011 Warrants.

 

  

  

  

(b) The Company hereby represents and warrants that except as may otherwise be disclosed on a disclosure schedule attached hereto or as set forth in the SEC Documents, such Company Representations and Warranties are true and correct on the date hereof (except for Company Representations and Warranties that speak as of a specific date).

 

4. Covenants.

 

(a) With the exception of subsections 4(d), 4(g)(ii), 7(e) and 7(h), the covenants set forth (or referenced) in Section 4 of the Securities Purchase Agreement are hereby incorporated by reference with such changes necessary to relate to this Agreement as if set forth in their entirety herein (the “Covenants”).  For the avoidance of doubt, the Covenants’ references to “Securities” shall be deemed references to the Tenth 2011 Convertible Debenture, the Tenth 2011 Warrants and the shares of Common Stock issuable upon conversion or exercise thereof, references to “Conversion Shares” shall be deemed to reference the shares of Common Stock issuable upon conversion of the Tenth 2011 Convertible Debenture, references to “Warrant Shares” shall be deemed to reference the shares of Common Stock issuable upon exercise of the  Tenth 2011 Warrants and any reference to “Transaction Documents” shall be deemed to include a reference to this Agreement, the  Tenth 2011 Convertible Debenture and the  Tenth 2011 Warrants.

 

(b) The Company will use the proceeds from the sale of the Tenth 2011 Convertible Debenture for the general corporate and working capital purposes of the Company and its subsidiaries.

 

5. Ratification of Financing Documents; Confirmation of Collateral; Cross-Default; Cross-Collateralization; Further Assurances.

 

(a) The Company hereby ratifies, confirms, and reaffirms all and singular the terms and conditions of the Existing Financing Documents, and acknowledges and agrees that, subject to the terms and conditions of this Agreement, all terms and conditions of the Existing Financing Documents shall remain in full force and effect and the Company remains liable to the Investor for the payment and performance of all amounts due under the Existing Documents, without offset, defense or counterclaim of any kind, nature or description whatsoever.

 

(b) The Company hereby ratifies, confirms, and reaffirms that (i) the obligations secured by the Financing Documents include, without limitation, all amounts hereafter owed or due under the Tenth 2011 Convertible Debenture and/or the Financing Documents (the “Obligations”), and any future modifications, amendments, substitutions, or renewals thereof, (ii) all collateral, whether now existing or hereafter acquired, granted to the Investor pursuant to the Financing Documents, or otherwise, shall secure all of the Obligations until the full, final, and indefeasible payment of the Obligations, and (iii) the occurrence of a default and/or event of default under any Financing Document shall constitute a default and an event of default under all of the Financing Documents, it being the express intent of the Company that all of the Obligations be fully cross-collateralized, cross-guaranteed, and cross-defaulted.

 

  

  

  

(c) The Company has previously granted the Investor security interests in all of its assets, and to confirm the same the Company hereby grants the Investor a security interest in all of its assets, whether now existing or hereafter acquired, including, without limitation, all accounts, inventory, goods, equipment, software and computer programs, securities, investment property, financial assets, deposit accounts, chattel paper, electronic chattel paper, instruments, patents, patent applications, copyrights, trademarks, trademark applications, trade names, domain names, documents, letter-of-credit rights, health-care-insurance receivables, supporting obligations, notes secured by real estate, commercial tort claims, and general intangibles including payment intangibles, to secure the Obligations free and clear of all liens and encumbrances, except those in favor of the Investor.

 

(d) The Company shall, from and after the execution of this Agreement, execute and deliver to the Investor whatever additional documents, instruments, and agreements that the Investor may require in order to correct any document deficiencies, or to vest or perfect the Financing Documents and the collateral granted therein more securely in the Investor and/or to otherwise give effect to the terms and conditions of this Agreement and/or any documents, instruments and agreement required in connection with, related to, or contemplated by this Agreement, and hereby irrevocably authorizes the Investor to file any financing statements (including financing statements with a generic description of the collateral such as “all assets”), and take any other normal and customary steps, the Investor deems necessary to perfect or evidence the Investor’s security interests and liens in any such collateral.

 

(e) The Company acknowledges and agrees that this Agreement shall constitute an authenticated record as such term is defined in the Uniform Commercial Code.

 

(f) The Company acknowledges and agrees that nothing contained in this Agreement, the Tenth 2011 Convertible Debenture, the  Tenth 2011 Warrants or in any document, instrument or agreement required in connection with, related to or contemplated thereby shall be deemed to constitute (1) a waiver of any defaults or events of default now existing or hereafter arising, (2) an agreement to forbear by the Investor with respect to such defaults or events of default, or (3) an amendment, modification, extension or waiver of any of the terms of the Financing Documents or of any of the Investor’s rights and remedies thereunder.

 

6. Conditions.  The obligation of the Investor hereunder to purchase the  Tenth 2011 Convertible Debenture is subject to the Investor having received an opinion of counsel from counsel to the Company in a form satisfactory to the Investor; provided that this condition is for the Investor’s sole benefit and may be waived by the Investor at any time in its sole discretion.

 

  

  

  

7. Fees and Expenses. The Company shall pay all of its costs and expenses incurred by it connection with the negotiation, investigation, preparation, execution and delivery of this Agreement, the  Tenth 2011 Convertible Debenture, the  Tenth 2011 Warrants or any document, instrument or agreement required in connection with, related to or contemplated thereby.   The Company shall pay a structuring and due diligence fee to Yorkville Advisors, LLC, the Investor’s investment manager, of $25,000 which shall be paid directly from the proceeds of the Closing.  The Company acknowledges and agrees that the structuring and due diligence fee paid shall be nonrefundable, fully earned as of the date of the execution of this Agreement, and retained by the Investor as a fee and not applied in reduction of any other Obligations.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  

  

  

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

 

	  	
COMPANY:

	  	
NEOMEDIA TECHNOLOGIES, INC.

	  	  
	  	
By:           /s/ Robert Thomson                                

	  	
Name:  Robert Thomson

	  	
Title:    C.F.O.

	  	  
	  	  
	  	
INVESTOR:

	  	
YA GLOBAL INVESTMENTS, L.P.

	  	
By:  Yorkville Advisors, LLC

	
 

	
         its Investment Manager

	  	  
	  	
By:         /s/ Gerald Eicke                                                      

	  	
Name:  Gerald Eicke

	  	
Title:    Managing Member

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