Document:

Exhibit 10.5

 

DEERFIELD CAPITAL MANAGEMENT
LLC 

6250 North River Road, 9th Floor

Rosemont, Illinois 60018

 

April 9, 2009

 

Mr. Jonathan Trutter

830 Lake Road

Lake Forest, Illinois 60045

 

Dear Mr. Trutter:

 

This letter agreement (the “Agreement”) sets forth our
understanding with respect to certain matters in relation to your employment by
Deerfield Capital Management LLC (the “Company”).  This Agreement is entered into in
consideration of, and as a condition to, the formation and raising of Deerfield
Pegasus Loan Capital LP (“DPLC”), a fund as to which the Company shall
serve as advisor, and in consideration of, and as a condition to, your serving
DPLC through the Company as an investment professional.  You acknowledge that the Company would not
direct you to provide services to DPLC, continue to employ you as an investment
professional with respect to DPLC, or provide you with compensation or
remuneration in connection with your employment with the Company but for your
execution of this Agreement.

 

1.                                       Confidentiality;
Use of Track Record Prohibition.  You acknowledge that as a result of your
employment by the Company, you will be provided access to secret, proprietary,
and confidential information that has not been made publicly available
concerning the Company and its Affiliates (as defined below), including without
limitation, information relating to the business of the Company and its
Affiliates, information relating to any Fund (as defined below), or any account
or other investment vehicle advised, managed or sponsored by the Company or any
of its Affiliates (each, a “Managed Asset”) or any investor in any of
them (each, an “Investor”, and together with the Managed Assets, the “Covered
Parties”), or any information otherwise deemed confidential pursuant to any
agreement or policy of the Company or any of its Affiliates or any Covered
Party, including without limitation information relating to financial
performance or rates of return, systems, formulae, analyses, business models,
other material ideas, Investor information (including  identity and contacts, lists, and financial
or personal information), and/or information regarding employees of the Company
or any of its Affiliates, and other secret, proprietary, and/or confidential
information (“Confidential Information”).  You further acknowledge that this
Confidential Information has been developed and created by the Company at
substantial time and expense and constitutes a valuable proprietary asset of
the Company.  You therefore agree that
you shall at all times during your employment with the Company and for a period
of five (5) years thereafter (the “Confidentiality Term”) keep
confidential and not disclose to any person or entity (other than the Company
or any of its Affiliates if it is necessary to perform your duties in respect
of any Covered Parties) or use for your benefit or the benefit of any other
person or entity, without the prior written consent of the Company, any
Confidential Information; provided
that you may (a) disclose any such information as has become generally
available to the public other than as a result of disclosure by you in breach
of this Agreement, (b) disclose any such information as may be required in
response to any legally valid summons or subpoena, (c) disclose any such
information to the extent necessary in order to comply with any law, order,
regulation or ruling applicable to you or the Company or its Affiliates; provided that in the case of (b) and
(c), you notify the Company in advance of such disclosure, cooperate with the Company
or its Affiliate, as applicable, should it choose to seek a protective order,
and use your best efforts to obtain confidential treatment for such
information, and (d) disclose as necessary, your salary, bonus
eligibility, benefits and the fact that you are subject to the Restrictive
Covenants (as defined herein) and the terms thereof to a prospective employer,
your personal financial, tax and legal advisors and immediate family members
(each a “Permitted Party”); provided
that in the case of (d), you will be responsible for the disclosure or use by
any Permitted Party of any such information in violation of this
Agreement.  However, notwithstanding the
fact that the following information may have become generally available to the
public as set forth in clause (a) above or that the Confidentiality Term
may have ended, the track records of DPLC and any successor funds thereto (the 

 

1

 

“Funds”),
the terms of your employment with the Company (including your salary, bonus
eligibility and other benefits), as well as the terms of this Agreement, are
all confidential, shall not be disclosed by you to any person or entity or used
for your benefit or the benefit of any other person or entity (except for the
benefit of any of the Covered Parties) without the prior written consent of the
Company and shall otherwise be subject to the obligations set forth in this Section 1.  You agree that upon the termination of your
employment with the Company for any reason you will promptly return to the
Company all materials in whatever form or media received from the Company or
any of its Affiliates or based upon or containing information derived from such
materials.  An “Affiliate” of a
person or entity shall mean any other person or entity controlled by,
controlling, or under common control with such initial person or entity.

 

2.                                       Non-Disparagement.  You shall not disclose to the public or any
other person or entity any false or misleading information concerning, or any
information that reflects negatively upon or otherwise disparages, the Company,
any of its Affiliates, any Managed Account, any investors in the Funds or their
respective operations or employees, except, with respect to negative
information only, to the extent necessary in order to comply with any law,
order, regulation or ruling applicable to you or the Company and its
Affiliates; provided that you
notify the Company in advance of such disclosure, cooperate with the Company or
its Affiliate, as applicable, should it choose to seek a protective order, and
use your best efforts to obtain confidential treatment for such
information.  The Company agrees to
direct its officers and directors not to disclose to the public or any other
person or entity any false or misleading information concerning, or any
information that reflects negatively upon or otherwise disparages, you, except,
in each case, with respect to negative information only (a) to the extent
necessary in order to comply with any law, order, regulation or ruling
applicable to the Company or any of its Affiliates or any disclosures in
confidence to the Company’s legal advisors, (b) responses by the Company
that it believes in good faith to be truthful to questions of investors or
prospective investors, or (c) in connection with any performance reviews
or evaluations.

 

3.                                       Non-Solicitation.  You acknowledge and agree that the Company’s
ability to operate its business depends upon its ability to attract Investors
and to develop relationships with Investors, and that the Company has invested
and will continue to invest substantial time, expense, and resources in
attracting and developing relationships with its Investors.  You further acknowledge and agree that you
would not have developed contacts with any such Investors but for your
employment by the Company.  You further
acknowledge and agree that the Company has invested and will continue to invest
substantial resources in recruiting, hiring, and training its employees, and that
you would not have developed contacts with these employees but for your
employment by the Company.  Therefore,
you agree that as long as you are employed by the Company, any of its
Affiliates or on behalf of any Fund and for 12 months thereafter (or such shorter period as is expressly agreed to by you and
the Company in writing), you shall not:

 

(a)                                  solicit for employment or hire any person (other than on
behalf of and for the benefit of the Company or its Affiliates) who is at the
time of such solicitation or was within six months preceding such solicitation
employed by the Company or any of its Affiliates;

 

(b)                                 solicit or encourage any other employee of the Company or
any of its Affiliates to terminate such employee’s employment with the Company
or such Affiliate or breach any restrictive covenant between the Company or
such Affiliate and such employee;

 

(c)                                  solicit (i) current or former investors in any of the
Funds, or (ii) any other potential investor in any Fund of whom you have
knowledge and with whom the Company or any of its Affiliates has held a meeting
or to whom marketing materials have been given; or

 

(d)                                 (i) solicit investments by parties not affiliated with
the Company or its Affiliates in any investment of any Fund or in any
investment or company which, to your knowledge, any Fund was considering
investing in during your employment, except on behalf of the Company, any of
its Affiliates or any Fund, or (ii) solicit or induce any person to leave
the employ of such investment or company or otherwise breach any obligation to
any such investment or company.

 

2

 

4.                                       Non-Competition.

 

(a)                                  You acknowledge that as a result of your employment by the
Company, you have been and will be provided access to Confidential Information
and information relating to the employees and Investors of the Company and its
Affiliates.  You further acknowledge that
the Company would not disclose to you any Confidential Information relating to
any Fund but for your execution of this Agreement.  Therefore, you agree that during your
employment by the Company or any of its Affiliates and for 12 months thereafter
(provided that one or more of the
Funds continues to do business at such time) (the “Non-Compete Term”)
you shall not anywhere in the United States, except on behalf of any Managed
Asset or as is otherwise expressly provided in this Agreement or unless the
Company has expressly agreed otherwise in writing, participate directly or
indirectly, personally or as the agent or employee of another, in the
ownership, management, operation or control of any investment fund or other
investment vehicle that is (at
the time of the termination of your employment) or becomes during the
Non-Compete Term engaged in a business with a strategy substantially
similar to that of DPLC as of the date hereof (“Competitive
Activity”).

 

(b)                                 Notwithstanding the provisions of the preceding clause (a),
you shall not be precluded from holding an amount equal to or less than 1% of
the outstanding voting shares of any publicly traded company.  The Company may elect, in
its sole discretion, to pay severance to you (the amount and schedule for
payment thereof to be determined by the Company in its sole discretion) and in
the event of such election, you agree to accept such severance payments in accordance with
such schedule.  Further, the Company may
elect to extend the Non-Compete Term (regardless of whether the Company has
elected to pay you severance as set forth above) for a period of up to twelve
(12) months; provided that in the
event of an extension, the Company shall pay you (the schedule for payment
thereof to be determined by the Company it its sole discretion) for each day
during such extension an amount equal to your then-current annual base salary,
divided by 365 (the “Daily Amount”). 
Notwithstanding
anything to the contrary contained in this Section 4, in the event your
employment is terminated without Cause or due to a Forced Relocation
(as each term is defined herein), the Company may elect, by providing you
with written notice thereof within ten (10) calendar days following the
effective date of such termination, that the restrictions contained in Section 4(a) be
applicable to you for any period it determines in its sole discretion, provided that such period does not exceed
24 months and, provided, further, that the Company pays you
the Daily Amount for each day of such period (the schedule for payment thereof
to be determined by the Company it its sole discretion).

 

(c)                                  For purposes of
this Agreement, “Cause” shall mean (i) your willful and continued
failure to substantially perform your duties to the Company or its Affiliates,
including without limitation a breach of any material provision of this
Agreement, as determined in the sole discretion of the Company; (ii) your
failure to comply in a material respect with, or a material breach of, any (x) rule or
regulation of a regulatory or self regulatory agency with jurisdiction over the
activities of the Company or its Affiliates or (y) any policy of the
Company or its Affiliates previously advised in writing, or generally made
available, to employees, applicable to its operations or employees generally
or, with respect to its investment operations, applicable to such investment
operations generally; (iii) your conviction of, or pleading of guilty or nolo contendere to, any felony in a
domestic or foreign court (other than motor vehicle violations not subject to a
custodial penalty), or to a misdemeanor involving moral turpitude; (iv) your
commission of any act (or the failure to act) which triggers an event of “Cause”
as defined in and pursuant to any governing document of a Fund; or (v) your
willful engagement in, or the finding, charge or allegation in a judicial,
administrative or arbitral tribunal that you have engaged in conduct that is
materially injurious to the Company or its Affiliates (including the making of
materially disparaging or derogatory comments about the Company or any of its
Affiliates, except as such statements or comments may be made pursuant to any
legal proceeding), monetarily or otherwise; provided that
in the case of clauses (i) and (ii), you have been provided with written
notice of such failure or breach and shall have failed to cure the same within
30 days after receipt of such notice (but only if such breach is curable).

 

For
purposes of this Agreement “Forced Relocation” shall mean your
resignation from the Company within 30 days after the Company indicates to you
in writing and without your consent that it will require you to relocate
outside of a 100 miles radius of the Company’s headquarters.

 

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 (d)                              During the investment period
for DPLC, you agree to offer to DPLC investment opportunities that are
presented to you that are consistent with DPLC’s investment objectives to the
extent set forth in the Company’s Related Party Transaction Policy.

 

5.                                       Enforcement.  The covenants contained in Sections 1 through
4 of this Agreement (the “Restrictive Covenants”) shall be enforced to
the fullest extent permissible under the laws of the State of New York.  These obligations are not limited in time to
the duration of your employment and rather shall survive the termination of
your employment, irrespective of the reason for such termination.  You acknowledge and agree that your services
for and relationship with the Company, its Affiliates, the Funds, and Pegasus
Deerfield (AIV), LLC and its Affiliates (collectively, “Pegasus”) are of a
special character, with a unique value to the Company, its Affiliates, the
Funds and Pegasus, the loss of which cannot be adequately compensated by
damages or an action at law, and that during your employment by the Company,
you will have access to and become acquainted with Confidential Information and
information relating to the employees and Investors of the Company and/or its
Affiliates.  You agree and acknowledge
that the Restrictive Covenants are reasonable and necessary for the protection
of the legitimate and protectable business interests of the Company, its
Affiliates, the Funds and Pegasus (including their respective investors,
customers, customer goodwill, accounts, prospects, employee training, and
confidential, proprietary and/or secret information).  You also agree and acknowledge that if you breach
or threaten to breach any of the provisions in the Restrictive Covenants, the
Company, its Affiliates, the Funds and Pegasus will suffer substantial and
irreparable damages, such that monetary relief alone will be inadequate to
redress such a breach or threat to commit a breach, and further that each of
the Company, its Affiliates, the Funds and Pegasus shall be entitled to obtain
an injunction to prevent and/or remedy such a breach or threatened breach,
without first having to post a bond.  In
any proceeding for an injunction and upon any motion for a temporary or
permanent injunction (“Injunctive Action”), the right of the Company,
each of its Affiliates, each of the Funds and Pegasus to receive monetary
damages shall not be a bar or interposed as a defense to the granting of such
injunction.  The right of the Company,
each of it Affiliates, each of the Funds and Pegasus to an injunction is in
addition to, and not in lieu of, any other rights and remedies available to the
Company, such Affiliates, such Funds and Pegasus under law or in equity.  The parties hereto further agree that each
such party shall, in the event of litigation or other proceeding before any
court, arbitrator or other tribunal, be liable for any and all reasonable
attorneys’ fees and costs incurred by the other party and its Affiliates as a
result of a breach of any such party’s covenants or agreements contained in the
Restrictive Covenants.

 

6.                                       Survival;
Entire Agreement.  Unless
stated otherwise herein, the Restrictive Covenants contained in this Agreement
shall survive the termination of your employment for any reason in accordance
with their terms.  This Agreement
constitutes the entire agreement and understanding between the parties with
regard to the subject matter herein.  It
supersedes and cancels any prior understandings, agreements, or representations
by or between the parties, written or oral, relating to the subject matter
hereof.  Any modification or amendment of
this Agreement must be made in writing and signed by both parties.

 

7.                                       Severability.  If any term or provision of this Agreement,
or the application thereof to any person or circumstances, will to any extent
be invalid or unenforceable, the remainder of this Agreement, or the
application of such terms to persons or circumstances other than those as to which
it is invalid or unenforceable, will not be affected thereby, and each term of
this Agreement will be valid and enforceable to the fullest extent permitted by
law.

 

8.                                       Jurisdiction
and Choice of Law.  You and the
Company agree to exclusive personal jurisdiction in the State of Illinois with
respect to the matters set forth in or arising out of this Agreement.  Any dispute arising out this Agreement will
be governed by the laws of the State of Illinois without regard to its rules regarding
conflicts of law that would require or permit the application of laws of
another jurisdiction.

 

9.                                       Blue Pencil.  You hereby
acknowledge that the provisions of this Agreement shall be enforced to the fullest extent
permissible under the law.  If any
provision of this Agreement is held to be invalid or  unenforceable by reason of being vague or
unreasonable as to area, duration or scope of activity, this Agreement shall become and be immediately amended to
only such area, duration and scope of activity as shall be determined to be
reasonable and enforceable by the court or other body having jurisdiction over
the matter 

 

4

 

and the
parties hereto agree that this Agreement shall be valid and binding as though
any invalid or unenforceable provision had not been included herein.

 

10.                                 Successors and
Assigns.  This Agreement shall be
binding upon, inure to the benefit of and be enforceable by the Company’s
successors and assigns.  You acknowledge
that your rights and obligations contained herein are personal to you and you
may not assign your rights or obligations hereunder without the prior written
consent of the Company.  The parties
further acknowledge and agree that each of the Funds and Pegasus (with its
principal place of business being in New York, New York) and each of its
Affiliates is an intended third party beneficiary of this Agreement.

 

The foregoing accurately sets forth our agreement with respect to the
subject matter hereof.

 

	
   

  	
  DEERFIELD CAPITAL MANAGEMENT LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Robert A. Contreras

  
	
   

  	
  Name:

  	
  Robert A. Contreras

  
	
   

  	
  Title:

  	
  General Counsel

  
	
   

  	
   

  

 

Agreed and Accepted:

 

 

	
  /s/
  Jonathan W. Trutter

  	
   

  
	
  Name:
  Jonathan W. Trutter

  	
   

  
	
  Dated:
  April 9, 2009

  	
   

  

 

5DIRECTOR NON-QUALIFIED

Exhibit 4.3

DIRECTOR NON-QUALIFIED STOCK OPTION AGREEMENT

THIS STOCK OPTION AGREEMENT (the “Agreement”) entered into as of this __ day of ______, 200_ between Money4Gold Holdings, Inc. (the “Company”) and ________ (the “Director”), a member of the Company’s board of directors (the “Board”).

WHEREAS, by action taken by the Board it has adopted the 2008 Equity Incentive Plan (the “Plan”); and

WHEREAS, by action taken by the Board it has been determined that in order to enhance the ability of the Company to attract and retain qualified directors it will grant the Director the right to purchase stock in the Company pursuant to non-qualified options.

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

1.

Grant of Non-Qualified Options.  The Company irrevocably grants to the Director, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option to purchase all or any part of ________ shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth.  Of the Options, ________ shall be for service as a director and ______ shall be for service as a member of the ______ Committee.

2.

Price.  The exercise price of the shares of common stock subject to the Options shall be $____ per share.

3.

Vesting -When Exercisable.  

(a)

The Options shall vest annually in equal increments over a three-year period following the date of the automatic grant, with the initial vesting date one year from the date of this Agreement, subject to service in the capacity in which the grant is received on the applicable vesting dates.  Any fractional vesting shall be rounded up one or two times, as applicable. 

(b)

Subject to Sections 3(c) and 4 of this Agreement, Options may be exercised prior to vesting and remain exercisable for five years from the date of grant or until 6:00 p.m. New York time on ______, __, 2013.

(c)

However, notwithstanding any other provision of this Agreement at the option of the Board, all Options, whether vested or unvested shall be immediately forfeited in the event of:

(1)

Purchasing or selling securities of the Company without written authorization in accordance with the Company’s inside information guidelines then in effect;

(2)

Breaching any duty of confidentiality including that required by the Company’s inside information guidelines then in effect;

(3)

Competing with the Company; or

(4)

Recruitment of Company personnel after ceasing to be a director.

(d)

Notwithstanding any other provision in this Agreement, the Options automatically vest on the date of a “Change in Control.”  A “Change in Control” shall mean any of the following: 

(1)

the consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than 50% of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other corporate reorganization are owned by persons who were not shareholders of the Company immediately prior to such merger, consolidation or other corporate reorganization; 

(2)

any entity or person not now an executive officer, director or 30% beneficial owner of the Company becomes either individually or as part of a group (required to file a Schedule 13D or 13G with the Securities and Exchange Commission (“SEC”)) the beneficial owner of 30% or more of the Company’s common stock; for this purpose, the terms “person” and “beneficial ownership” shall have the meanings provided in Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) or related rules promulgated by the SEC;

(3)

the closing of a sale of all or substantially all of the assets of the Company in a transaction which requires shareholder approval;  

(4)

individuals who, as of the date of this Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided, however, that any individual becoming a director subsequent to the date of this Agreement whose election or nomination for election by the Company’s shareholders was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company (as such term is used in Rule 14a-11 of Regulation 14A, or any successor section, promulgated under the Exchange Act); or

(5)

the Board, in its sole and absolute discretion, determines that there is a Change in Control of the Company.

4.

Termination of Relationship.

(a)

If for any reason, except death or disability as provided below, the Director 

ceases to act as a director of the Company, all rights granted hereunder shall terminate effective one year from the date the Director ceases to act as a director, except as otherwise provided for herein.

(b)

No transfer of the Options by the Director by will or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of the letters testamentary or such other evidence as the Board may deem necessary to establish the authority of the state and the acceptance by the Transferee or Transferees of the terms and conditions of the Options.

5.

Profits on the Sale of Certain Shares; Redemption.  If any of the events specified in Section 3(c) of this Agreement occur within one year from the last date the Director is a director of the Company (the “Termination Date”), all profits earned from the sale of the Company’s securities, including the sale of shares of common stock underlying Options, during the two-year period commencing one year prior to the Termination Date shall be forfeited and forthwith paid by the Director to the Company.  Further, in such event, the Company may at its option redeem shares of common stock acquired upon exercise of Options by payment of the exercise price to Director.  The Company’s rights under this Section 5 do not lapse one year from the Termination Date but are a contract right subject to any appropriate statutory limitation period.

6.

Method of Exercise.  The Options shall be exercisable by a written notice which shall:

(a)  

state the election to exercise the Options, the number of shares to be exercised, the person in whose name the stock certificate or certificates for such shares of common stock is to be registered, his address and social security number (or if more than one, the names, addresses and social security numbers of such persons);

(b)  

contain such representations and agreements as to the holder’s investment intent with respect to such shares of common stock as set forth in Section 11 hereof;

(c)  

be signed by the person or persons entitled to exercise the Options and, if the Options are being exercised by any person or persons other than the Director, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person or persons to exercise the Options; and

(d) 

be accompanied by full payment of the purchase or exercise price in United States dollars in cash or by check.  

The certificate or certificates for shares of common stock as to which the Options shall be exercised shall be registered in the name of the person or persons exercising the Options.

7.

Sale of Shares Acquired Upon Exercise of Options.  Any shares of the Company’s common stock acquired pursuant to Options granted hereunder as set forth herein cannot be sold by the Director until at least six months elapse from the date of grant of the Options except in case of 

death or disability or if the grant was exempt from the short-swing profit provisions of Section 16(b) of the Securities Exchange Act of1934. 

8.

Anti-Dilution Provisions.  The Options granted hereunder shall have the anti-dilution rights set forth in the Plan.

9.  

Necessity to Become Holder of Record.  Neither the Director nor his/her estate shall have any rights as a shareholder with respect to any shares covered by the Options until such person shall have become the holder of record of such shares.  No adjustment shall be made for cash dividends or cash distributions, ordinary or extraordinary, in respect of such shares for which the record date is prior to the date on which he/she shall become the holder of record thereof.

10.  

Reservation of Right to Terminate Relationship.  Nothing contained in this Agreement shall restrict the right of the Company to terminate the relationship of the Director at any time, with or without cause. The termination of the relationship of the Director by the Company, regardless of the reason therefor, shall have the results provided for in Sections 3 and 5 of this Agreement.  

11.  

Conditions to Exercise of Options.  In order to enable the Company to comply with the Securities Act of 1933 (the “Securities Act”) and relevant state law, the Company may require the Director, the Director’s estate, or any transferee as a condition of the exercising of the Options granted hereunder, to give written assurance satisfactory to the Company that the shares subject to the Options are being acquired for his/her own account, for investment only, with no view to the distribution of same, and that any subsequent resale of any such shares either shall be made pursuant to a registration statement under the Securities Act and applicable state law which has become effective and is current with regard to the shares being sold, or shall be pursuant to an exemption from registration under the Securities Act and applicable state law.

The Options are subject to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration, or qualification of the shares of common stock subject to the Options upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with the issue or purchase of shares under the Options, the Options may not be exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected.  

12.  

Duties of Company.  The Company will at all times during the term of Options:

(a)  

Reserve and keep available for issue such number of shares of its authorized and unissued common stock as will be sufficient to satisfy the requirements of this Agreement;

(b)  

Pay all original issue taxes with respect to the issue of shares pursuant hereto and all other fees and expenses necessarily incurred by the Company in connection therewith;

(c)  

Use its best efforts to comply with all laws and regulations which, in the opinion of counsel for the Company, shall be applicable thereto.

13.

Parties Bound by Plan.  The Plan and each determination, interpretation or other action made or taken pursuant to the provisions of the Plan shall be final and shall be binding and conclusive for all purposes on the Company and the Director and his/her respective successors in interest.

14.

Severability.  In the event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be binding with the same effect as though the void parts were deleted.

15.

Arbitration.  Any controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application, implementation, breach or enforcement which the parties are unable to resolve by mutual agreement, shall be settled by submission by either party of the controversy, claim or dispute to binding arbitration in Palm Beach County, Florida (unless the parties agree in writing to a different location), before a single arbitrator in accordance with the rules of the American Arbitration Association then in effect. The decision and award made by the arbitrator shall be final, binding and conclusive on all parties hereto for all purposes, and judgment may be entered thereon in any court having jurisdiction thereof.

16.

Benefit.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors and assigns.

17.

Notices and Addresses.  All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by Federal Express or similar receipted delivery, or by facsimile delivery as follows:

		
	The Director:

	 

	 
	 

	 
	 

	 
	 

	The Company:

	Daniel Brauser

	 
	Money4Gold Holdings, Inc.

	 
	595 South Federal Highway

	 
	Suite 600

	 
	Boca Raton, FL 33432

	 
	Facsimile: (954) 208-9862

		
	with a copy to:

	Michael D. Harris, Esq.

	 
	Harris Cramer LLP

	 
	1555 Palm Beach Lakes Blvd., Suite 310

	 
	West Palm Beach, FL 33401

	 
	Facsimile:  (561) 659-0701

or to such other address as either of them, by notice to the other may designate from time to time.  The transmission confirmation receipt from the sender’s facsimile machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing.

18.

Attorney’s Fees.  In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation, breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing party shall be entitled to a reasonable attorney’s fee, costs and expenses.

19.

Governing Law.  This Agreement and any dispute, disagreement, or issue of construction or interpretation arising hereunder whether relating to its execution, its validity, the obligations provided herein or performance shall be governed or interpreted according to the laws of the State of Delaware without regard to choice of law considerations.  

20.

Oral Evidence.  This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement or the change, waiver discharge or termination is sought.

21.

Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  The execution of this Agreement may be by actual or facsimile signature.

22.

Section or Paragraph Headings.  Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement.

IN WITNESS WHEREOF the parties hereto have set their hand and seals the day and year first above written.

			
	WITNESSES:

	MONEY4GOLD HOLDINGS, INC.

	 
	 
	  

	 
	 
	 

	 
	By:  

	 

	 
	 
	Daniel Brauser

Chief Financial Officer

	 
	 
	 

	 
	 
	 

	 
	By:

	 

	 
	 
	 

	 
	 
	 

	 
	 
	DIRECTOR:

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