Document:

Unassociated Document

    EXHIBIT 10.7

    

    ROKWADER,
INC.

    (a
delaware corporation)

     

      
        

      

    

     

    6%
Subordinated convertible Promissory Note

    
      

    

    

    NEITHER
THIS NOTE NOR THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF AS PROVIDED
HEREIN HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
UNDER THE LAWS OF ANY STATE OR OTHER JURISDICTION. TRANSFER OF THIS NOTE AND
SUCH SECURIITES IS RESTRICTED PURSUANT TO SUCH LAWS.

    

    
      	
              $25,000.00

            	
              Calabasas,
      California

              April
      14, 2010

            

    

     

    
      	

              1.

            	

              Note. FOR
      VALUE RECEIVED, ROKWADER, INC., a Delaware corporation (the “Company” or
      the “Borrower”), hereby promises to pay to the order of Yale Farar (the
      “Holder”) the amount of $25,000.00 on demand (“Due Date”) and to pay
      interest at the rate of six (6 %) per annum on the outstanding principal.
      Interest payments shall be made with principal on the due date, to the
      Holder in lawful money of the United States at, 25317 Prado de los
      Arboles, Calabasas, CA 91302, or at such other place as the Holder may
      specify in writing.

            
	 	 
	
              2.

            	
              Default.  In the
      event of an occurrence of any event of default specified below, the
      principal and all accrued interest on the Note shall become immediately
      due and payable without notice, except as specified below. The occurrence
      of any of the following events shall constitute an event of default under
      this Note:

            

    

    

    
      	
               
      

            	
              2.1

            	
              The
      Company fails to make any payment hereunder when due, which failure has
      not been cured within thirty (30) days following such
    failure.

            

    

    

    
      	
               
      

            	
              2.2

            	
              If
      the Borrower shall file a petition to take advantage of any insolvency
      act; make an assignment for the benefit of its creditors; commence a
      proceeding for the appointment of a receiver, trustee, liquidator or
      conservator of itself of a whole or any substantial part of its property;
      file a petition or answer seeking reorganization or arrangement or similar
      relief under the federal bankruptcy laws or any other applicable law or
      statute of the United States of America or any state;
    or

            

    

    

    
      	
               
      

            	
              2.3

            	
              If
      a court of competent jurisdiction shall enter an order, judgment or decree
      appointing a custodian, receiver, trustee, liquidator or conservator of
      the Borrower or of the whole or any substantial part of its properties, or
      approve a petition filed against the Borrower seeking reorganization or
      arrangement or similar relief under the federal bankruptcy laws or any
      other applicable law or statute of the United States of America or
      any state; or if, under the provisions of any other law for the relief or
      aid of debtors, a court of competent jurisdiction shall assume custody or
      control of the Borrower or of the whole or any substantial part of its
      properties; or if there is commenced against the Borrower any proceeding
      for any of the foregoing relief and such proceeding or petition remains
      undismissed for a period of thirty (30) days; or if the Borrower by any
      act indicates its consent to or approval of any such proceeding or
      petition; or

            

    

    

    
      	
               
      

            	
              2.4

            	
              If
      (i) any judgment remaining unpaid, unstayed or undismissed for a
      period of sixty (60) days is rendered against the Borrower which by itself
      or together with all other such judgments rendered against the Borrower
      remaining unpaid, unstayed or undismissed for a period of sixty (60) days,
      is in excess of $100,000, or (ii) there is any attachment or
      execution against the Borrower’s properties remaining unstayed or
      undismissed for a period of sixty (60) days which by itself or together
      with all other attachments and executions against the Borrower’s
      properties remaining unstayed or undismissed for a period of 60 days is
      for an amount in excess of
$100,000.00.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      
        	
                3.  

              	
                Conversion
      – Holder

              

      

       

    

    
      	
               
      

            	
              3.1

            	
              Conversion
      Rights.  At any
      time from the date hereof the Holder will have the right, at its option,
      to convert the Note into Shares of Common Stock of the Company (the
      “Shares”) at the conversion rate then in
effect.

            

    

    

    
      	
               
      

            	
              The
      initial conversion rate is seventy-five cents ($.75) per share or 33,333
      Shares if the entire Note was converted, subject to adjustments in certain
      events. No fractional Share or scrip representing a fractional Share will
      be issued upon conversion of the Notes. Cash will be paid in lieu of any
      fractional Shares equal to the then current market value of such
      fractional Share.

            

    

    

    
      	
               
      

            	
              The
      conversion rate will be appropriately adjusted if the Company
      (a) pays a dividend or makes a distribution on its Shares of Common
      Stock which is paid or made in Shares of Common Stock, (b) subdivides
      or reclassifies its outstanding Shares of Common Stock, (c) combines
      its outstanding Shares of Common Stock into a smaller number of Shares of
      Common Stock, (d) issues Shares of Common Stock, or issues rights or
      warrants to all Holders of its Common Stock entitling them to subscribe
      for or purchase Shares of Common Stock (or securities convertible into
      Common Stock), at a price per Share less than $.75 per Share, or
      (e) distributes to all Holders of its Common Stock evidences of its
      indebtedness or assets (excluding any dividend paid in cash out of legally
      available funds) subject to the limitation that adjustments by reason of
      any of the foregoing need not be made until they result in a cumulative
      change in the conversion rate of at least five percent (5%). The
      conversion rate will not be adjusted upon the conversion of presently
      outstanding stock options or
warrants.

            

    

    

    
      	
               
      

            	
              In
      case of any consolidation or merger to which the Company is a party other
      than a merger or consolidation in which the Company is the surviving
      corporation, or in case of any sale or conveyance to another corporation
      of the property of the Company as an entirety or substantially as an
      entirety, or in case of any statutory exchange of securities with another
      corporation, there will be no adjustment of the conversion price, but each
      Holder of the Notes then outstanding will have the right thereafter to
      convert such Notes into the kind and amount of securities, cash or other
      property which he would have owned or have been entitled to receive
      immediately after such consolidation, merger, statutory exchange, sale or
      conveyance had such Notes been converted immediately prior to the
      effective date of such consolidation, merger, statutory exchange, sale or
      conveyance. In the case of a cash merger of the Company into another
      corporation or any other cash transaction of the type mentioned above, the
      effect of these provisions would be that the conversion features of the
      Notes would thereafter be limited to converting the Notes at the
      conversion price in effect at such time into the same amount of cash per
      Share that such Holder would have received had such Holder converted the
      Notes into Common Stock immediately prior to the effective date of such
      cash merger or transaction.

            

    

    

    
      	
               
      

            	
              3.2

            	
              Mechanics
      of Conversion.

            

    

    

    
      	
               
      

            	
              The
      Note may be converted upon a notice from the Company to the Note holder
      and surrender of the Notes at any time from the date hereof, at the
      offices of the Company, 23950 Craftsman Road, Calabasas, CA 91302, with
      the form of “Notice of Conversion” duly completed and executed as
      indicated. Shares of Common Stock issued upon conversion will be fully
      paid and non-assessable.

            

    

    

    

    
      	
              4.

            	
              Prepayment.  Borrower
      may prepay any or all amounts due under this Note at any time from the
      date of this Note at one hundred percent (100%) of the principal amount of
      the Note together with accrued interest; provided, however, that Borrower,
      as a condition to prepayment of some or all of the balance hereof, shall
      deliver written notice of its intention to prepay at least thirty (30)
      calendar days prior to the date of such prepayment (“Prepayment
      Date”).

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              5.

            	
              Subordination.  Indebtedness
      evidenced by the Note will be subordinated in right of payment to the
      prior payment in full of all existing and future Senior Indebtedness of
      the Company. Senior Indebtedness is defined as the principal of (and
      premium, if any) and unpaid interest or accrued original issue discount on
      and other amounts due on or in connection with any Debt (as defined below)
      incurred, assumed or guaranteed by the Company, whether outstanding on the
      date of the issuance of the Note or thereafter incurred, assumed or
      guaranteed and all renewals, extensions and refunding of any such Debt;
      provided, however, that the following will not constitute Senior
      Indebtedness:

            

    

    

    
      	
               
      

            	
              (i)

            	
              any
      Debt as to which, in the instrument creating or evidencing the same or
      pursuant to which the same is outstanding, it is expressly provided that
      such Debt is subordinate in right of payment to all other debt of the
      Company not expressly subordinated to such
Debt;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              any
      Debt which by its terms refers explicitly to the Note and states that such
      Debt shall not be senior in right of payment
  thereto;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              any
      Debt of the Company in respect of the
Note;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              any
      Debt of the Company to any Subsidiary of the Company;
  and

            

    

    

    
      	
               
      

            	
              (v)

            	
              any
      Debt of the Company to any joint venture or partnership, which joint
      venture or partnership is required, under generally accepted accounting
      principles, to be consolidated in the Company’s consolidated financial
      statements.

            

    

    

    
      	
               
      

            	
              Debt
      is defined to mean, with respect to any person at any date, without
      duplication:

            

    

    

    
      	
               
      

            	
              (i)

            	
              all
      obligations of such person for borrowed
money,

            

    

    

    
      	
               
      

            	
              (ii)

            	
              all
      obligations of such person evidenced by bonds, debentures, note or other
      similar instruments,

            

    

    

    
      	
               
      

            	
              (iii)

            	
              all
      Debt of others secured by a lien on any asset of such person, whether or
      not such Debt is assumed by such
person,

            

    

    

    
      	
               
      

            	
              (iv)

            	
              all
      Debt of others for the payment, of which such person is responsible or
      liable as obligor or guarantor,

            

    

    

    
      	
               
      

            	
              (v)

            	
              all
      obligations of such person in respect of letters of credit or other
      similar instruments (or reimbursement obligations with respect
      thereto),

            

    

    

    
      	
               
      

            	
              (vi)

            	
              all
      obligations of such person to pay the deferred purchase price of property
      or services, except Trade Payables,
and

            

    

    

    
      	
               
      

            	
              (vii)

            	
              all
      reimbursement, reserve funding and other obligations of such person in
      respect of surety bonds executed by such person or at the request of and
      for the benefit of such person.

            

    

    

    
      	 	By
      reason of such subordination, in the event of dissolution, insolvency,
      bankruptcy or other similar proceedings, upon any distribution of assets,
      (i) holders of Senior Indebtedness will be entitled to be paid in
      full before payments may be made on the Note, and the Holder of the Note
      will be required to pay over their share of such distribution to the
      holder of Senior Indebtedness until such Senior Indebtedness is paid in
      full and (ii) creditors of the Company who are neither holders of
      Notes nor holders of Senior Indebtedness may recover less, ratably, than
      holders of Senior Indebtedness and may recover more, ratably, than the
      Holder of the Note.
	 	 
	
              6.

            	
              Securities
      Law Compliance.  The Holder understands that the right of
      conversion of this Note is subject to full compliance with the provisions
      of all applicable securities laws and the availability thereunder upon any
      conversion of any exemption from registration thereunder for such
      conversion, and that the certificate or certificates evidencing such Note
      will bear a legend to the following
effect:

            

    

    

    “THE
SECURITIES EVIDENCED HEREBY MAY NOT BE TRANSFERRED WITHOUT (i) THE OPINION
OF COUNSEL SATISFACTORY TO THIS CORPORATION THAT SUCH TRANSFER MAY LAWFULLY BE
MADE WITHOUT REGISTRATION UNDER THE FEDERAL SECURITIES ACT OF 1933, AS AMENDED,
OR (ii) SUCH REGISTRATION.”

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              7.

            	
              Notices.
      Any notice herein required or permitted to be given shall be in writing
      and may be personally served, sent by United States Mail, certified,
      or by overnight delivery service. For the purposes hereof, the address of
      the Holder and the address of the Company shall be as reflected in the
      Subscription Agreement between the Holder and the Company of even date
      herewith. Both the Holder and the Company may change the address for
      service by written notice to the other as herein
  provided.

            

    

    

    
      	
              8.

            	
              No Waiver
      Rights and Remedies Cumulative.  No failure on the part
      of the Holder to exercise, and no delay in exercising any right hereunder
      shall operate as a waiver thereof; nor shall any single or partial
      exercise by the Holder of any right hereunder preclude any other or
      further exercise thereof or the exercise of any other right. The rights
      and remedies herein provided are cumulative and not exclusive of any
      remedies or rights provided by law or by any other agreement between the
      Borrower and the Holder.

            

    

    

    
      	
              9.

            	
              Amendments.  No
      amendment, modification or waiver of any provision of this Note nor
      consent to any departure by the Holder therefrom shall be effective unless
      the same shall be in writing and signed by the Holder and then such waiver
      or consent shall be effective only in the specific instance and for the
      specific purpose for which given.

            

    

    

    
      	
              10.

            	
              Successors
      and Assigns.  This Note shall be binding upon the
      Borrower and its successors and assigns and the terms hereof shall inure
      to the benefit of the Holder and its successors and assigns, including
      subsequent holders hereof.

            

    

    

    
      	
              11.

            	
              Severability.  The
      provisions of this Note are severable, and if any provision shall be held
      invalid or unenforceable in whole or in part in any jurisdiction, then
      such invalidity or unenforceability shall not in any manner affect such
      provision in any other jurisdiction or any other provision of this Note in
      any jurisdiction.

            

    

    

    
      	
              12.

            	
              Waiver of
      Notice.  The Borrower hereby waives presentment, demand
      for payment, notice of protest and all other demands in connection with
      the delivery, acceptance, performance, default or enforcement of this
      Note.

            

    

    

    
      	
              13.

            	
              Governing
      Law.  This Note has been executed in and shall be
      governed by the laws of the State of
California.

            

    

     

    
      	
              14.

            	
              Note Holder
      is Not a Shareholder.  No Holder of this Note, solely by
      virtue of the ownership of this Note, shall be considered a shareholder of
      the Company for any purpose, nor shall anything in this Note be construed
      to confer on any Holder of this Note any rights of a shareholder of the
      Company including, without limitation, any right to vote, give or withhold
      consent to any corporate action, receive notice of meetings of
      shareholders or receive dividends.

            

    

    

    
      	
              15.

            	
              Exchange
      and Replacement of Note.  Upon surrender of this Note to
      the Borrower, the Borrower shall execute and deliver, at its expense, one
      or more new Notes of such denominations and in such names, as requested by
      the holder of the surrendered Note. Upon receipt of evidence satisfactory
      to the Company of the loss, theft, mutilation, or destruction of any Note,
      the Borrower will make and deliver a new Note of like tenor at the request
      of the holder of such Note.

            

    

     

    IN WITNESS WHEREOF, the Company has
caused this Note to be signed by its authorized officers as of the 14th day of
April, 2010.

     

    
      
        	 	
                ROKWADER,
      INC.

              	 
	 	 	 	 
	
              	
                By:
      

              	/s/
      Mitchell Turk     	 
	 	 	

                Mitchell
      Turk, SecretaryUnassociated Document

    
      Exhibit
10.1

    

     

    EMPLOYMENT
AGREEMENT

     

    This
Employment Agreement (the “Agreement”), is dated
as of August 13, 2010, and effective as of date hereinafter
provided,  by and between WidePoint Corporation, a
corporation organized under the laws of the State of Delaware (the “Company”), and Steve L. Komar (“Executive”).

     

    WITNESETH:

     

    WHEREAS, the Company and
Executive desire to provide for the employment of the Executive as the Chief
Executive Officer of the Company, to engage in such activities and to render
such services under the terms and conditions hereof;

     

    WHEREAS, the Company has
authorized and approved the execution of this Agreement, and Executive desires
to be employed by the Company under the terms and conditions hereinafter
provided; and

     

    WHEREAS, this Agreement
constitutes the entire understanding and agreement between the Company and
Executive regarding its subject matter and supersedes all prior or
contemporaneous negotiations and agreements, whether oral or written, between
them with respect to such subject matter.

     

    NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto intending to be legally bound do hereby
agree as follows:

     

    1. Effective Date, Appointment,
Title and Duties. The effective date of this Agreement is July 1, 2010
(“Effective
Date”).  As of the Effective Date, the Company employs
Executive to serve as its Chief Executive Officer.  In such capacity,
Executive shall report to the Board of Directors of the Company, and shall have
such duties, powers and responsibilities as are customarily assigned to a Chief
Executive Officer of a publicly held corporation, but shall also be responsible
to the Board of Directors and to any committee thereof.  In addition,
Executive shall have such other duties and responsibilities as the Board of
Directors may reasonably assign him, with his consent, including serving with
the consent or at the request of the Board of Directors as an officer or on the
board of directors of affiliated corporations, provided that such duties are
commensurate with and customary for a senior executive officer bearing
Executive’s experience, qualifications, title and position.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2. Term of Agreement.
The term of the Executive’s employment under this Agreement shall commence on
the Effective Date and shall terminate after a period of twenty four (24)
months, on June 30, 2012, except that by mutual consent of the Executive and the
Company, the Agreement may be optionally extended for an additional twelve (12)
month period, through and including June 30, 2013.

     

    3. Acceptance of
Position. Executive accepts the position of Chief Executive Officer,
and agrees that during the term of this Agreement he will faithfully perform his
duties and, except as expressly approved by the Board of Directors, will devote
substantially all of his business time to the business and affairs of the
Company.  It is acknowledged and agreed that Executive may serve as an
officer and/or director of companies in which the Company owns voting or
non-voting stock.  In addition, it is acknowledged that Executive may,
from time to time, serve as a member of the Board of Directors of other
for-profit companies, but not without prior approval by the Board of Directors
of the Company.  In the event the Executive, prior to the execution of
this Agreement, is holding positions as a member of a Board of Directors of a
public company, prior approval by the Board of Directors of the Company will not
be required.  The Executive may, from time to time, serve as a member
of the Board of Directors of other non-profit associations, community
associations, and not for profit groups without the approval of the Board of
Directors of the Company.  Any compensation or remuneration which
Executive receives in consideration of his service on the Board of Directors of
other companies shall be the sole and exclusive property of Executive, and the
Company shall have no right or entitlement at any time to any such compensation
or remuneration.

     

    4. Salary and
Benefits. During the term of this Agreement:

     

    (a) The
Company shall pay to Executive a base salary at an annual rate of not less than
(i) Two Hundred Five Thousand Dollars ($205,000) per annum for the initial
twelve (12) month period of this Agreement; (ii) Two Hundred Thirty Thousand
Dollars ($230,000) per annum for the second twelve (12) month period of this
Agreement; and (iii) Two Hundred Fifty Five Thousand Dollars ($255,000) per
annum for the optional third twelve (12) month period of this Agreement in the
event the parties jointly exercise that contractual option.  The
foregoing amounts are hereafter collectively referred to as the “Base Salary”
and shall be paid in approximately equal monthly installments at intervals based
on any reasonable Company policy which is consistently applied to all other
executives of the Company.  Any increase in the Base Salary above the
aforementioned amounts, once granted by the Company to the Executive, shall
automatically amend this Agreement to provide that thereafter Executive’s Base
Salary shall not be less than the annual amount to which such Base Salary has
been increased.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    (b) During
the term hereof, Executive shall be eligible to participate in all health,
retirement, Company-paid insurance, sick leave, vacation, disability, expense
reimbursement and other benefit programs which the Company or its subsidiaries
makes available to any of its senior executives.

     

    (c) Executive
may be awarded an annual bonus (in cash or stock of the Company) in the sole
discretion of the Board of Directors.  Executive also shall be
eligible to participate in any Company incentive stock, option or bonus plan
offered by the Company to its senior executives, subject to the terms thereof
and at the sole discretion of the Board of Directors.

     

    (d) The
Company will provide Executive with (i) a home office/automobile expense
allowance of $500.00 per month to cover such expenses incurred in the pursuit of
Company business and; (ii) a phone allowance of $100.00 per month to cover such
expenses incurred in the pursuit of Company business.

     

    5. Certain Terms
Defined. For purposes of this Agreement:

     

    (a)
Executive shall be deemed to be “disabled” if a physical or mental condition
shall occur and persist which, in the written opinion of a licensed physician
selected by the Board of Directors in good faith, has rendered Executive unable
to perform the duties set forth in Section 1 hereof for a period of sixty (60)
days or more and, in the written opinion of such physician, the condition will
continue for an indefinite period of time, rendering Executive unable to return
to his duties.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    (b) A
termination of Executive’s employment by the Company shall be deemed for “Cause”
if, and only if, it is based upon (i) conviction of a felony by a federal
or state court of competent jurisdiction; (ii) material disloyalty to the
Company such as embezzlement or misappropriation of corporate assets; or (iii)
engaging in unethical or illegal behavior which is of a public nature, brings
the Company into disrepute, and results in material damage to the
Company.  The Company shall have the right to suspend Executive with
pay, for a reasonable period to investigate allegations of conduct which, if
proven, would establish a right to terminate this Agreement for Cause, or to
permit a felony charge to be tried.  Immediately upon the conclusion
of such temporary period, unless Cause to terminate this Agreement has been
established, Executive shall be restored to all duties and responsibilities as
if such suspension had never occurred.

     

    (c) A
resignation by Executive shall not be deemed to be voluntary and shall be deemed
to be a resignation with “Good Reason” if it is based upon (i) a diminution
in Executive’s title, duties, or salary; (ii) a material reduction in
benefits; (iii) a direction by the Board of Directors that Executive report
to any person or group other than the Board of Directors, or (iv) a
geographic relocation of the Company’s primary business operations outside of
the Washington Metropolitan Area (with the Washington Metropolitan Area being
deemed to not include the Winchester, VA-WV Metropolitan Statistical Area and/or
the Culpepper, VA Micropolitan area).

     

    (d) “Affiliate”
means with respect to any Person, a Person who, directly or indirectly, through
one or more intermediaries, controls, is controlled by or is under common
control, with the Person specified.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (e) “Base
Salary” means, as of any date of termination of employment, the highest base
salary of Executive in the then current fiscal year or in any of the last four
fiscal years immediately preceding such date of termination of
employment.

     

    (f) “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the
Exchange Act.

     

    (g) A
“Change in Control” occurs if:

     

    (i) Any
Person or related group of Persons (other than Executive and his Related
Persons, the Company or a Person that directly or indirectly controls, is
controlled by, or is under common control with, the Company) is or becomes the
Beneficial Owner, directly or indirectly, of securities of the Company
representing 50% or more of the combined voting power of the Company’s then
outstanding securities;

     

    (ii) The
stockholders of the Company approve a merger or consolidation of the Company
with any other corporation (or other entity), other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) more than 50% of the combined voting power of the voting
securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation; provided, however, that a
merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no Person acquires 33 1/3% or more of the
combined voting power of the Company’s then outstanding securities shall not
constitute a Change in Control;

     

    (iii) The
stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company’s assets; or

     

    (iv) A
majority of the members of the Board of Directors of the Company cease to be
Continuing Directors;

     

    (h) “Code”
means the Internal Revenue Code of 1986, as amended.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (i) “Continuing
Directors” means, as of any date of determination, any member of the Board of
Directors who (i) was a member of such Board of Directors on the date of
this Agreement or (ii) was nominated for election or elected to such Board
of Directors with the approval of a majority of the Continuing Directors who
were members of such Board of Directors at the time of such nomination or
election.

     

    (j) “Exchange
Act” means the Exchange Act of 1934, as amended.

     

    (k) “Person”
means any individual, control group as defined in the Exchange Act, corporation,
partnership, limited liability company, trust, association or other
entity.

     

    (l) “Related
Person” means any immediate family member (spouse, partner, parent, sibling or
child, whether by birth or adoption) of the Executive and any trust, estate or
foundation, the beneficiary of which is the Executive and/or an immediate family
member of the Executive.

     

    6. Certain Benefits Upon
Termination. Executive’s employment shall be terminated upon the
earlier of (i) the voluntary resignation of Executive with or without Good
Reason; (ii) Executive’s death or permanent disability; or (iii) upon
the termination of Executive’s employment by the Company for any reason at any
time.  In the event of such termination, the provisions of Section
6(a) shall apply, and in the event of a Change of Control, the provisions of
Section 6(b) shall apply.

     

    (a) If
Executive’s employment by the Company terminates for any reason other than as a
result of a termination for Cause, or a voluntary resignation by Executive
without a Good Reason, then the Company shall pay Executive a lump sum severance
payment in cash equal to the greater of (A) the amount equal to twelve (12)
months of the Executive’s Base Salary at the time of such termination, or (B)
the amount equal to the Executive’s Base Salary for the remainder of the term as
if this Agreement had not been terminated; provided that if employment
terminates by reason of Executive’s death or disability, then Executive (or
Executive’s estate, if applicable) shall receive a one time payment equal to the
amount of Base Salary owed for the remainder of the term as if this Agreement
had not been terminated.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    (b) If
the Executive’s employment is terminated by the Company for any reason within
twenty four (24) months of a Change in Control of the Company other than as a
result of a termination for Cause, or a voluntary resignation by Executive
without a Good Reason,  then the Company shall pay Executive a one
time severance payment in cash equal to the greater of (A) the amount equal to
eighteen (18) months Base Salary, or (B) the amount equal to the Executive’s
Base Salary for the remainder of the term as if this Agreement had not been
terminated; provided
that if employment terminates by reason of Executive’s death or disability, then Executive (or
Executive’s estate, if applicable) shall receive a one time payment equal to the
amount of Base Salary owed for the remainder of the term as if this Agreement
had not been terminated.  If the Executive is paid under this Section
6(b), then the Executive shall not receive payments under Section
6(a).

     

    (c) If
Executive’s employment by the Company terminates for any reason, except for the
Company’s termination of Executive’s employment for Cause or a voluntary
resignation by Executive without a Good Reason, the Company shall offer to
Executive the opportunity to participate at Company expense in all medical and
dental plans provided by the Company to its executive officers to the extent
Executive elects for the remainder of the term of this Agreement.  To
the extent that the Company cannot provide, for a legal reason or any other
matter, Executive with the opportunity to participate in such medical and dental
plans (at Company expense) for the remainder of the term of this Agreement, then
in such event the Company shall pay to Executive in cash an amount equal to the
fair market value of the benefits to be provided pursuant to this Section
6(c).

     

    (d) The
Company shall make all payments pursuant to the foregoing subsections (a)
through (c) concurrently with the date of termination of Executive’s employment
or consummation of a Change in Control of the Company, as
applicable.  Any such termination payments payable hereunder shall be
considered as part-consideration for the non-compete covenant provided by
Executive in Section 7 below.

     

    (e) The
Company shall have no liability under this Section 6 if Executive’s employment
pursuant to this Agreement is terminated by the Company for Cause or by
Executive without a Good Reason.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    (f) Gross-Up.

     

    (i) If
it shall be determined that any payment, distribution or benefit received or to
be received by Executive from the Company (whether payable pursuant to the terms
of this Agreement or any other plan, arrangements or agreement with the Company
or an Affiliate (“Payments”)) would be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then Executive shall be entitled to
receive an additional payment (the “Excise Tax Gross-Up Payment”) in an amount
such that the net amount retained by Executive, after the calculation and
deduction of any Excise Tax on the Payments and any federal, state and local
income taxes and Excise Tax on the Excise Tax Gross-Up Payment provided for in
this Section 6(f), shall be equal to the Payments.  In determining
this amount, the amount of the Excise Tax Gross-Up Payment attributable to
federal income taxes shall be reduced by the maximum reduction in federal income
taxes that could be obtained by the deduction of the portion of the Excise Tax
Gross-Up Payment attributable to state and local income
taxes.  Finally, the Excise Tax Gross-Up Payment shall be reduced by
income or Excise Tax withholding payment made by the Company or any Affiliate to
any federal, state or local taxing authority with respect to the Excise Tax
Gross-Up Payment that was not deducted from compensation payable to
Executive.

     

    (ii) All
determinations required to be made under this Section 6(f), including whether
and when an Excise Tax Gross-Up Payment is required and the amount of such
Excise Tax Gross-Up Payment and the assumptions to be utilized in arriving at
such determination, except as specified in Section 6(f)(i) above, shall be made
by the Company’s independent auditors (the “Accounting Firm”), which shall
provide detailed supporting calculations both to the Company and
Executive.  Such determination of tax liability made by the Accounting
Firm shall be subject to review by Executive’s tax advisor and, if Executive’s
tax advisor does not agree with such determination reached by the Accounting
Firm, then the Accounting Firm and Executive’s tax advisor shall jointly
designate a nationally recognized public accounting firm, which shall make such
determination.  All reasonable fees and expenses of the accountants
and tax advisors retained by either Executive or the Company shall be borne by
the Company.  Any Excise Tax Gross-Up Payment, as determined pursuant
to this Section 6(f), shall be paid by the Company to Executive within five days
after the receipt of such final determination in writing.  Any
determination by a jointly designated public accounting firm shall be binding
upon the Company and Executive.

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    (iii) As
a result of the uncertainty in the application of Section 4999 of the Code at
the time of the initial determination thereunder, it is possible that Excise Tax
Gross-Up Payments will not have been made by the Company in an amount that
should have been made consistent with the calculations required to be made
hereunder (“Underpayment”).  In the event that Executive thereafter is
required to make a payment of any Excise Tax, any such Underpayment calculated
in accordance with and in the same manner as the Excise Tax Gross-Up Payment in
Section 6(f)(i) above shall be promptly paid by the Company to or for the
benefit of Executive.  In the event that the Excise Tax Gross-Up
Payment exceeds the amount subsequently determined to be due, such excess shall
be repaid by the Executive to the Company (together with interest at the rate
provided in Section 1274(b)(2)(B) of the Code) within one hundred eighty (180)
days from the date that Executive receives written notice of the final
determination of such excess payment.

     

    7. Non-competition. Executive
agrees that at all times while he is employed by the Company and for a period of
twelve (12) months thereafter if Executive’s employment is terminated by
Executive with Good Reason or by the Company without Cause (or if Executive’s
employment is terminated under the provisions of Section 6(b) of this Agreement
or by the Executive without Good Reason or by the Company for Cause, then
Executive’s non-competition period shall be eighteen (18) months from the date
of termination), he will not, as a principal, agent, employee, employer,
consultant, stockholder, investor, director or co-partner of any person, firm,
corporation or business entity other than the Company, or in any individual or
representative capacity whatsoever, directly or indirectly, without the express
prior written consent of the Company:

     

    (i) engage or participate in any
business whose products or services are directly competitive
with that of the Company and which conducts or solicits business, or transacts
with suppliers or customers located within the United States or Puerto
Rico;

     

    (ii) aid or counsel any other person,
firm, corporation or business entity to do any of the above;

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    (iii) become employed by a firm,
corporation, partnership or joint venture which competes with the business of
the Company within the United States or Puerto Rico; or

     

    (iv) approach, solicit business
from, or otherwise do business or deal with any customer of the Company in
connection with any product or service competitive to any provided by the
Company.

     

    For
purposes of the definition of stockholder or investor used in this Section
7, the Executive may hold a non-control position as stockholder or investor in
the securities of publicly traded companies without the prior written consent of
the Company.

     

    8. Indemnification. The
Company shall indemnify Executive and hold him harmless from and against all
claims, losses, damages, expense or liabilities (including expenses of defense
and settlement) based upon or in any way arising from or connected with his
employment by the Company, to the maximum extent permitted by law.  To
the fullest extent permitted by law, the Company shall advance to Executive all
expenses necessary in connection with the defense of any action or claim which
is brought if indemnification cannot be determined to be available prior to the
conclusion of such action or the investigation of such claim.  The
Company shall investigate in good faith the availability and cost of directors’
and officers’ insurance and shall include Executive as an insured in any
directors’ and officers’ insurance policy it maintains.  The
provisions of this Section 8 shall survive any termination or expiration of this
Agreement.

     

    9. Attorney Fees and
Costs. In the event that any action or proceeding is brought to
enforce the terms and provisions of this Agreement, the prevailing party shall
be entitled to recover reasonable attorney fees and costs.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    10. Notices. All
notices and other communications provided to either party hereto under this
Agreement shall be in writing and delivered by certified or registered mail,
postage prepaid, or by national overnight delivery service (such as Federal
Express), to such party at its/his address set forth below its/his signature
hereto, or at such other address as may be designated by either party in
conformity with the provisions of this Section 10, with any such notices being
deemed given when actually received by the recipient.

     

    11. Construction. In
construing this Agreement, if any portion of this Agreement shall be found to be
invalid or unenforceable, the remaining terms and provisions of this Agreement
shall be given effect to the maximum extent permitted without considering the
void, invalid or unenforceable provisions.  In construing this
Agreement, the singular shall include the plural, the masculine shall include
the feminine and neuter genders as appropriate.  Without limitation to
the foregoing, nothing in this Agreement is intended to violate the
Sarbanes-Oxley Act of 2002, and to the extent that any provision of this
Agreement would constitute such a violation, such provision shall be modified to
the extent required by such Act, or, to the extent that such provision cannot be
so modified and is found to be invalid or unenforceable, the remaining terms and
provisions shall be given effect to the maximum extent permitted without
considering the void, invalid or unenforceable provision.

     

    12. Headings. The
section headings hereof have been inserted for convenience of reference only and
shall not be construed to affect the meaning, construction or effect of this
Agreement.

     

    13. Governing
Law. This Agreement, and any statements, conduct, claims, causes of
action, liabilities or other matters relating to or arising out of or in
connection with this Agreement, shall be governed by, and construed in
accordance with, the laws of the State of Delaware, without regard to choice of
law or conflict of law principles. The federal or state courts sitting in the
State of Maryland, County of Anne Arundel, shall have exclusive jurisdiction to
adjudicate any disputes arising out of or in connection with this Agreement and
the parties hereby waive any objection based with respect
thereto.  Any rights to trial by jury
with respect to any claim, action or proceeding, directly or indirectly, arising
out of, or relating to, this Agreement are waived by the
parties.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    14. Entire
Agreement. This Agreement constitutes the entire agreement and
supersedes all other prior agreements and undertakings, both written and oral,
among Executive and the Company, with respect to the subject matter
hereof.

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, this
Agreement shall be effective as of the date specified in the first paragraph of
this Agreement.

     

    
      
        	 	 	

                WIDEPOINT
      CORPORATION:

              	 
	 	 	 	 
	
                

                  Signed
      August 13, 2010

                

              	
                 

              	

                /s/
      James T. McCubbin

              	 
	 	 	

                Name:
      James T. McCubbin,

              	 
	 	 	

                Title:  Chief
      Financial Officer

              	 

      

    

     

     

    
      
        	 	 	

                EXECUTIVE:

              	 
	 	 	 	 
	
                

                  Signed
      August 13, 2010

                

              	
                 

              	

                /s/
      Steve L. Komar

              	 
	 	 	

                Name:
      Steve L. Komar

              	 
	 	 	

                Title:  Chief
      Executive Officer

              	 

      

    

    

    
      
        
        

      

      
        -13-

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