Document:

opmg_ex1011.htm

Exhibit 10.11

Options Media Group Holdings, Inc.

123 NW 13th Street, Suite 300

Boca Raton, Florida 33432

July 21, 2010

Mr. Dale S. Harrod

4928 NW 58 Ave

Coral Springs, FL 33067-2188

Re:  Settlement Agreement and Release

Dear Dale:

This letter agreement confirms our agreement with respect to your Employment Agreement with Options Media Group Holdings, Inc. and/or any of its subsidiaries.  We agree that effective last Friday, July 16, 2010, your role as an employee and Chief Technology Officer terminated.  Notwithstanding anything contained in your Employment Agreement effective as of October 6, 2008, as amended by Amendment to Employment Agreement dated December 30, 2008, we agree that the Company’s sole obligation to you will be to pay you  salary of $10,000 per month for a five month period expiring December 16, 2010, pay you $[5,000] on December 16, 2010 and reimburse you for your COBRA expenses through January 16, 2011.  All payments will be subject to appropriate withholding and deductions as required by law.  This severance shall be paid in installments in accordance with the Company’s payroll practices.  In addition, the Company will grant you 200,000 five-year non-qualified options exercisable at the closing price of our common stock on the last trading day prior to approval by the Company’s Board of Directors. The options will vest each June 30 and December 31 beginning December 31, 2010 as long as during the prior six month period you made yourself available to perform consulting services as requested by the Company not to exceed 10 hours per month and the exercisability will be further conditioned on your signing the Company’s stand stock option agreement. The Company’s obligation to compensate you  is contingent upon your agreeing to extend the non-compete period contained in your Employment Agreement for a period of one year following the last salary payment date or the close of business on December 16, 2011 and your  executing the Settlement Agreement and Release.

If the foregoing is acceptable to you, please execute a copy of this letter agreement in the place indicated below.

Sincerely yours,

/s/ Scott Frohman

Scott Frohman

Chief Executive Officer

AGREED AND ACCEPTED:

/s/ Dale S. Harrod                    

Dale S. Harrodopmg_ex1012.htm

Exhibit 10.12

 

OPTIONS MEDIA GROUP HOLDINGS, INC.

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Facsimile: (561) 892-2618

August 11, 2010

Mr. Scott Frohman

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Re:           Series C Preferred Stock

Dear Scott:

This letter (this “Agreement”) shall set forth our agreement with respect to the cancellation of the 70,000,000 stock options granted to you on April 20, 2010 by Options Media Group Holdings, Inc., a Nevada corporation (the “Company”), in exchange for the Company issuing you 675 shares of Series C Preferred Stock of the Company, which shall be restricted and shall be subject to the following vesting schedule:

(i)            39 shares of Series C Preferred Stock of the Company for each 100,000 software licenses that are sold by PG Acquisition Corp, Inc., a Florida corporation and wholly owned subsidiary of the Company (“Phoneguard”), or its reseller(s) pursuant to that certain sublicense agreement of even date herewith by and between Phoneguard and Cellular Spyware, Inc., a Nevada corporation (the “Sublicense Agreement”), not to exceed an aggregate of 1,000,000 software licenses.

 

              (ii)           193 shares of Series C Preferred Stock of the Company upon the aggregate sales of 1,000,000 software licenses by Phoneguard or its reseller(s) pursuant to the Sublicense Agreement.

 (iii)            77 shares of Series C Preferred Stock of the Company for each 100,000 software licenses that are sold by Phoneguard or its reseller(s) pursuant to the Sublicense Agreement over 1,000,000 software licenses.

To the extent that any and/or a partial amount of remaining shares are not fully vested within five (5) years following the date of this letter agreement or the earlier termination of your employment with the Company, such unvested shares shall be cancelled.

Any shares of common stock of the Company received through a conversion of the Series C Preferred Stock of the Company shall be subject to the above vesting schedule; provided, however, the number of shares shall be appropriately adjusted to reflect the applicable conversion formula.

 

  

  

  

By signing below, you hereby agree in writing to be bound by the terms of this Agreement.

 

	 	 	

Yours very truly,

	 
	 	 	 	 
	 	 	 	 
	
 

	 	/s/ Steve Stowell	 
	 	 	 	 
	 	 	 
Steve Stowell

	 
	 	 	Chief Financial Officer	 
	

AGREED AND ACCEPTED:

	 	 	 
	 	 	 	 
	/s/ Scott Frohman	 	 	 
	

Scott Frohmanopmg_ex1013.htm

 

Exhibit 10.13

 

OPTIONS MEDIA GROUP HOLDINGS, INC.

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Facsimile: (561) 892-2618

April 6, 2011

Mr. Scott Frohman

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Re:           Series E Preferred Stock

Dear Scott:

This letter (this “Amendment”) sets forth our understanding regarding the amendments to that certain letter agreement dated August 11, 2010 (the “Letter Agreement”) by and between you and Options Media Group Holdings, Inc., a Nevada corporation (“OPMG”). The parties intend to amend the vesting schedule for the Series E Preferred Stock of OPMG, as set forth in the Letter Agreement, to include all software licenses (not just anti-virus software) sold by or on behalf of PhoneGuard.

For $10.00 and other valuable consideration, the sufficiency of which you hereby acknowledge, you hereby agree to the following:

1.  The Letter Agreement is hereby amended as follows.

The 675 shares of Series E Preferred Stock of OPMG delivered to you shall be restricted and shall be subject to the following vesting schedule:

 (i)            39 shares of Series E Preferred Stock of OPMG for each 100,000 software licenses that are sold by PhoneGuard or its reseller(s), not to exceed an aggregate of 1,000,000 software licenses.

 (ii)           193 shares of Series E Preferred Stock of OPMG upon the aggregate sales of 1,000,000 software licenses by PhoneGuard or its reseller(s).

   (iii)           77 shares of Series E Preferred Stock of OPMG for each 100,000 software licenses that are sold by PhoneGuard or its reseller(s) over 1,000,000 software licenses.

To the extent that any and/or a partial amount of remaining shares are not fully vested within five (5) years following the date of the Letter Agreement or the earlier termination of your employment with OPMG, such unvested shares shall be cancelled.

Any shares of common stock of OPMG received through a conversion of the Series E Preferred Stock of OPMG shall be subject to the above vesting schedule; provided, however, the number of shares shall be appropriately adjusted to reflect the applicable conversion formula.

 

  

  

  

By signing below, you hereby agree in writing to be bound by the terms of this Agreement.

 

	 	 	

Yours very truly,

	 	 	 
	 	 	 
	 	 	

/s/ Steve Stowell

	 	 	 
	 	 	

Steve Stowell

	 	 	Chief Financial Officer
	 	 	 
	

AGREED AND ACCEPTED:

	 	 
	 	 	 
	/s/ Scott Frohman	 	 
	

Scott Frohmanopmg_ex1015.htm

EXHIBIT 10.15

 

LICENSE AGREEMENT

 

BETWEEN Cellular Spyware, Inc. and PHONEGUARD, INC.

 

 

 

Licensor Cellular Spyware, Inc.

 

Licensee Phone Guard, Inc. (a wholly owned subsidiary of Options Media Group Holdings, Inc.)

 

	
  

	
Licensor acknowledges that the licenses granted pursuant to this Agreement were purchased by the Licensee from the Licensor pursuant to that certain Asset Purchase Agreement dated April 16, 2010.  As additional consideration, the Licensee paid One Hundred Ten Thousand Dollars ($110,000) to Licensor for the exclusive perpetual irrevocable license for North America, Central America, and South America, of its anti-texting software (drive safe).

 

	PHONEGUARD, INC.  	 	CELLULAR SPYWARE, INC.	 
	 	 	 	 	 
	 	 	 	 	 
	By: 	
/s/ Scott Frohman   8-27-10

	 	By:	
/s/ Anthony Sasso    8-27-10

	 
	Name:	
Scott Frohman

	 	Name:	
Anthony Sasso

	 
	Title:	Chief Executive Officer	 	Title:	
Presidentopmg_ex1016.htm

EXHIBIT 10.16

STOCKHOLDERS AGREEMENT

This Stockholders Agreement (the “Agreement”) is made and entered into as of the 16th day of April, 2010 by and among Options Media Group Holdings, Inc., a Nevada corporation (“Options”), Scott Frohman, (“Frohman”), and Anthony Sasso (“Sasso”) (Frohman and Sasso may sometimes be referred to herein individually as a “Stockholder” or collectively a the “Stockholders”).

WHEREAS, the parties hereto enter into this Agreement to set forth certain agreements among them with respect to the shares of common and preferred stock of Options (collectively, the “Stock”) owned by them.

 

 

NOW, THEREFORE, in consideration of the respective represen­tations and warranties hereinafter set forth and of the mutual covenants and agreements contained herein, the parties hereto agree as follows:

ARTICLE I

TRANSFER OF SHARES

1.0           First Right of Refusal; Tag Along Rights

 

 (a)          Options’s Right of First Refusal.  In the event any Stockholder (an “Offering Stockholder”) receives a bona fide offer (the “Bona Fide Offer”) from a prospective purchaser to purchase Stock equal to, or in the case of preferred stock convertible into, at least 1,000,000 shares of Stock in a single or series of related transactions, and the Offering Stockholder desires to accept such offer, then the Offering Stockholder shall first give written notice of his or her intention to sell to Options and the other Stockholders (the “Other Stockholders”), indicating the name and address of the prospective purchasing third party, the terms and conditions of the sale, any information with respect to said third party’s experience and financial condition available to the Offering Stockholder, together with a copy of the contract of sale (subject to the rights of refusal) and evidence of payment of a deposit thereunder, if applicable.  Options shall have the first right to purchase all or any part of the shares of Stock subject to the Bona Fide Offer at the price and upon the terms set forth in the Bona Fide Offer by giving notice of exercise of such right to purchase (specifying the number of shares of Stock to be purchased) to the Offering Stockholder and the other parties hereto within ten (10) days after receipt of such notice.  The decision of whether or not Options exercises said right to purchase the shares of Stock of the Offering Stockholder shall be made in the form of a resolution adopted by the Board of Directors of Options, except that if the Offering Stockholder is a member of the Board of Directors of Options, he shall recuse himself from such vote or action.

 

  

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(b)           Stockholders’ Rights of First Refusal.   If Options shall fail to exercise its right to purchase any or all of the shares of Stock subject to the Bona Fide Offer, then each of the Other Stockholders shall have the right to purchase at the price and upon the terms set forth in the Bona Fide Offer such portion of the shares of Stock that are not accepted for purchase by Options as the number of shares of Stock owned by each bears to the total number of shares of Stock owned by all of the Stockholders (not including the shares of Stock owned by the Offering Stockholder) by giving notice of exercise of such right to purchase such shares of Stock (specifying the number of shares of Stock to be purchased) to the Offering Stockholder within five (5) days following the close of the period hereinabove provided for Options’s exercise of its right to purchase such shares of Stock or notice that the above-mentioned option will not be exercised, whichever occurs first.  However, if any Stockholder does not elect to purchase his full proportionate share of such shares of Stock within the period allowed as hereinabove provided, then the Stockholders who elected to purchase shall have the right to purchase (proportionately among themselves unless they shall agree otherwise) all or any part of such shares of Stock as such non-purchasing Stockholder shall have failed to elect to purchase by giving notice of exercise of such right to purchase such shares of Stock (specifying the number of shares to be purchased) to the Offering Stockholder and the other parties hereto within five (5) days following the close of the aforesaid five (5) day period or notice that the above-mentioned option will not be exercised, whichever occurs first.

 

 (c)           Closing of Transaction.  The closing of the purchase and sale of the shares of the Stock pursuant to Sections 1.0 (a) and (b) above shall take place (i) within twenty (20) days following the date of notice of exercise of the right to purchase; or (ii) the date set forth in the Bona Fide Offer, whichever is later, at the offices of the attorney for the Offering Stockholder or such other time and place as may be mutually agreed upon.

 

(d)           Tag-Along Rights for Undersubscribed Stock. In the event that Options and the Other Stockholders do not purchase all of the Stock of the Offering Stockholder pursuant to Sections 1.0 (a) and (b) above, then the Offering Stockholder shall give at least 10 days’ prior notice to the Other Shareholders (the “Tag-Along Sale Notice”) specifying the number and the class of shares that were not purchased by Options and the Other Stockholders pursuant to Sections 1.0 (a) and (b) above (the “Undersubscribed Shares”) and notifying them of their right to participate in the sale. The Other Stockholders may elect to participate in the sale by delivering written notice to the Offering Stockholder within 10 days after receipt of the Tag-Along Sale Notice. Notwithstanding anything contained herein to the contrary, in no event shall the holder of unvested shares of Options be entitled to participate in the tag-along rights set forth in this Section 1.0(d).

(i)           If any Other Stockholders elect to participate (each a “Participating Stockholder”) in such sale (a “Proposed Sale”), the Offering Stockholder and each Participating Stockholder shall be entitled to sell, at the same price and on the same terms, an equal  number of shares of Stock (based upon the conversion shares, if preferred stock), provided that if a Participating Stockholder does not have or elect to sell as many shares as are being proposed to be sold by the Offering Stockholder after accounting for the sale(s) by the Participating Stockholders, the number of shares to be sold by the Offering Stockholder and the other Participating Stockholder shall be increased, in equal amounts (or as they may otherwise agree in writing) by the shortfall.

 

  

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(ii)           The Offering Stockholder shall use his reasonable best efforts to obtain the agreement of the prospective transferee(s) to the participation of the Participating Stockholders in any such Proposed Sale, and the Offering Stockholder shall not close the Proposed Sale unless (A) the prospective transferee(s) agrees to allow the participation of the Participating Stockholders or (B) the Offering Stockholder agrees to purchase the number of shares of Options Stock from any Participating Stockholders which the Participating Stockholders would have been entitled to sell pursuant to this Section 1.0(d). Any such purchase under clause (B) above shall be for cash and shall occur at the same time as the Offering Stockholder closes the Proposed Sale.

 

1.1           Public Sale. Notwithstanding the above limitations, any Stockholder may publicly sell any shares of Options common stock on the Over-the-Counter Bulletin Board or other established trading market or exchange where Options common stock may trade in the future.

1.2.           Permitted Transfers. Any party may at any time transfer all or a portion of his shares of Stock any other party to this Agreement. Any individual owner of shares of Options  may transfer all or a portion of their shares of Options by will or under the laws of descent and distribution and to a trust, partnership, limited liability company, corporation, custodianship or other fiduciary account for the benefit of the holder and/ or his spouse or immediate family member so long as the transferee during his lifetime has full control of such entity or account and the holder agrees to be bound by the terms of this Agreement as if he were a party hereto.  Any transfer of shares of Stock that is not made in accordance with this Agreement or is not otherwise made with the prior written consent of the Other Stockholders shall be null and void and of no force or effect.

 

ARTICLE II

GENERAL PROVISIONS

2.0           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 next business day delivery, or by facsimile delivery (in which event a copy shall immediately be sent by Federal Express or similar receipted delivery), as follows:

 

	 (a)	 If to Options:	Options Media Group Holdings, inc. 

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Attn: Scott Frohman

Facsimile: (561) 892-2618

	 	 	 
	 	With a copy to: 	Harris Cramer LLP 

1555 Palm Beach Lakes Blvd, Suite 310

West Palm Beach, FL 33401

Attn: Michael D Harris, Esq.

Facsimile: (561) 659-1789

	 	 	 
	 (b)  	If to Frohman:    	Scott Frohman 

123 NW 13th Street, Suite 300

Boca Raton, FL 33432

Attn: Scott Frohman

Facsimile: (561) 892-2618

	 	 	 
	(c) 	If to Sasso: 	Anthony Sasso 

6574 N. State Road 7

Suite 278

Coconut Creek, FL 33073

	 	 	 
	 	With a copy to:	Paul Taylor 

6400 N. Andrews Ave., Suite 340

Ft. Lauderdale, Florida 33309

Facsimile: 954-978-9001

 

  

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or to such other address or facsimile number, 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.

2.1           Modification.  This Agreement contains the entire agreement between the parties hereto and there are no agreements, warranties or repre­sentations which are not set forth herein and all prior negotia­tions, agreements and understandings are superseded hereby.  This Agree­ment may not be modified or amended except by an instru­ment in writing duly signed by or on behalf of the parties hereto.

2.2           Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the local laws of the State of Florida applicable to agreements made and to be per­formed entirely within the State, without regard to conflict of laws principles. each party hereto hereby irrevocably consents and submit to the jurisdic­tion of any Florida or Federal court located in Palm Beach County, Florida over any action or proceed­ing arising out of any dispute between the parties hereto, and waive any right they have to bring an action or proceeding with respect thereto in any other jurisdiction.  Each party hereto further irrevoca­bly consent to the service of process against them in any such action or proceed­ing by the delivery of a copy of such process at the ad­dress set forth above.

2.3           Binding Effect; Assignment.  This Agreement shall be binding upon the parties and inure to the benefit of the succes­sors and assigns of the respective parties hereto; provided, however, that this Agreement and all rights hereunder may not be assigned by any Party except with the prior written consent of the other parties hereto or as otherwise provided in Section 1.1

2.4           Counterparts.  This Agreement may be executed simulta­neously in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

2.5           Section Headings.  The section headings in this Agreement are for convenience of reference only and shall not be deemed to alter or affect any provision hereof.

2.6           Waiver.  The waiver of one breach or default hereunder shall not constitute the waiver of any other or subsequent breach or default.

 

  

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2.7           No Agency.  This Agreement shall not constitute either party the legal representa­tive or agent of the other, nor shall either party have the right or authority to assume, create, or incur any liability or any obligation of any kind, express or implied, against or in the name of or on behalf of the other party.

2.8           Termination.  This Agreement shall terminate on December 31, 2015.

2.9           Force Majeure.  Options shall be excused from any delay in performance or for non-performance of any of the terms and conditions of this Agreement caused by any circumstances beyond its control, including, but not limited to, any Act of God, fire, flood, or government regulation, direction or request, or accident, interruption of telecommunications facilities, labor dispute, unavoidable breakdown, civil unrest or disruption to the extent that any such circumstances affect the Options’ ability to perform its obligations under this Agreement or the ability of the SEC to perform its responsibilities under the Securities Act.

 

[Signature Pages to Follow]

  

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

 

	 	 	OPTIONS MEDIA GROUP HOLDINGS, INC.	 
	 	 	 	 	 
	 	 	
By: 

	/s/ Scott Frohman 	 
	 	 	 	Scott Frohman, Chief Executive Officer	 

	 	 	
By: 

	/s/ Scott Frohman 	 
	 	 	 	Scott Frohman	 

	 	 	
By: 

	/s/ Anthony Sasso	 
	 	 	 	Anthony Sasso	 

 

 

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