Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.1

MIVA, Inc.

Policy for Compensation

For Independent Members of

The Board of Directors

Amended and Restated on
December 13, 2007

This policy provides a
compensation program for the independent members of the board of directors
designed to adequately compensate them for their time and effort. Board members
who do not qualify as independent directors under NASDAQ rules, as they are
established from time to time, are not included in this program.

The overall goals of this policy are:

	 	•	 	To align the interests of shareholders and directors and

	 	•	 	To provide value to directors for value received.

The program provides
for equity and cash payments. The equity payments are in the form of Restricted
Stock Units (“RSUs”). Each RSU consists of the right to receive one
share of stock upon reaching a vesting event, a predetermined point in time. At
the request of a board member or pursuant to the terms of the RSU Agreement,
the RSU may be settled partially in stock and partially in cash to facilitate
the payment of any tax liability arising from settlement of the RSU.

One compensation
scheme is applicable to all independent board members. A second scheme provides
for additional compensation for the extra efforts and responsibilities for
independent directors in the positions of chair and vice-chair of the board.

General Board Compensation

For their service on
the board, independent board members are to be given an RSU grant, an annual
cash retainer, and cash meeting stipends for participation in board and
committee meetings. The RSU grant shall be for the whole number of shares that
could be purchased for $40,000 based on the closing price of the
company’s stock on the first trading day of the calendar year. The RSUs
will vest at the rate of one-quarter (1/4) of the total at the end of the
months of March, June, September, and December. The actual issuance of shares
will take place at the end of each quarter. If an individual becomes an
independent member of the board of directors or leaves the board after January
1 of a year, the RSU award dollar amount will be adjusted to a fractional
portion of the full year dollar amount the numerator of which will be the
number of months in which the individual will be on the board and the
denominator of which is twelve (12). In the case of a new board member, the
number of shares will be based on the closing stock price the last trading day
preceding the date the individual becomes a member and the quarterly vesting
will be based on the relative number of months to be served in the respective
quarters of the remaining calendar year. In the case of a departing board
member, the number of shares that will vest in the last quarter of service will
be a fraction of the number of shares that otherwise would have vested the
numerator of which will be the number of full months of service during the
quarter and the denominator of which is 3. Any RSUs that are unvested as of the
date of termination of service as a director are automatically forfeited.

The annual cash
retainer that board members shall be entitled to receive is $20,000. The
retainer shall be paid in quarterly installments of $5,000 each at the
beginning of each fiscal quarter. This retainer shall be prorated for new board
members in the same fashion as RSUs as described above. Terminating board
members are not to receive any quarterly payments after termination.

The cash meeting
stipends, which are to be paid at the end of each calendar quarter, are as
follows:

Board meeting

$2,000 per board
meeting attended in person.

$500 per board meeting
attended telephonically

Committee
meetings

$1,000 per committee
meeting attended in person, except the audit committee chairman who shall
receive $2,000 per meeting.

$500 per meeting
attended telephonically, except for the audit committee chairman who shall
receive $1,000 per meeting.

6

 

Chair and Vice-Chair Compensation

In addition to the
general board compensation, the board members holding the position of chair and
vice-chair of the board shall each be given the following additional RSU grant
and cash stipend.

RSU grant

The RSU grant shall be
for the whole number of shares that could be purchased for $15,000 based on the
closing price of the company’s stock on the first trading day of the
calendar year. The RSUs will vest at the rate of one-fourth (1/4) of the total
at the end of each quarter of the calendar year.

Cash retainer

The cash retainer,
one-fourth (1/4) of which is to be paid at the end of each calendar quarter of
the year, shall be $15,000.

The RSU grant and cash
retainer for a quarter during which a board member ceases to hold the position
of chair or vice-chair, whatever the reason, shall be prorated in the same
fashion as RSUs for a departing board member as described above. Any RSUs that
are unvested or any cash retainer that is not due and payable as of the date of
termination of service as the chair or vice-chair of the Board are
automatically forfeited.

Effective Date

This amended policy is
effective for the calendar year 2008 and later years until further amended.

7ex10_48.htm

     

    
      

      

    

    
 

    Exhibit
      10.48

    

    

    FACTORING
      AGREEMENT AMENDMENT AGREEMENT

    

    

    THIS
      AGREEMENT is made as of the 13 day of December, 2007 between WIRELESS AGE
      COMMUNICATIONS LTD., a corporation incorporated under the laws of Saskatchewan
      (“Wireless Age”), and WIRELESS SOURCE
      DISTRIBUTION LTD., a corporation incorporated under the laws of Saskatchewan
      (“Wireless Source”), and NEWLOOK INDUSTRIES CORP., a
      corporation incorporated under the laws of British Columbia
      (“Newlook”), and WIRELESS AGE COMMUNICATIONS, INC., a
      corporation incorporated under the laws of Nevada (“WACL”), and
      ONLINETEL CORP., a corporation incorporated under the laws of Canada
      (“Onlinetel”), and TCE CAPITAL CORPORATION, a corporation
      amalgamated under the laws of the Province of Ontario
      (“TCE”).

    

    WHEREAS
      Wireless Age, Wireless Source , WACL and TCE are parties to a certain factoring
      agreement dated as of January 9, 2006 (the “Factoring
      Agreement”);

    

    AND
      WHEREAS the parties desire to amend the Factoring Agreement to provide for
      Newlook to be added as an “Assignor” and Onlinetel to be added as an “Additional
      Convenator” within the respective meanings of such terms under the Factoring
      Agreement.

    

    NOW
      THEREFORE in consideration of the mutual agreements and covenants herein
      contained and for other good and valuable consideration now paid by each of
      the
      parties hereto to the other (the receipt and sufficiency of which are hereby
      acknowledged), the parties agree as follows:

    

    1.           Newlook
      is hereby added as a party to the Factoring Agreement and shall be regarded
      in
      all respects and for all purposes as an “Assignor” within the meaning of the
      Factoring Agreement.

    

    2.           Onlinetel
      is hereby added as a party to the Factoring Agreement and shall be regarded
      in
      all respects and for all purposes as an “Additional Covenantor” within the
      meaning of the Factoring Agreement.

    

    3.           Newlook
      and Onlinetel agree to be bound by the provisions of the Factoring Agreement
      as
      an Assignor and as an Additional Covenantor respectively.

    

    4.           This
      Agreement, the Factoring Agreement, together with a certain terms letter dated
      December 23, 2005 from TCE to Wireless Age and Wireless Source as accepted
      by
      Wireless Age and Wireless Source and by WACL, as amended by a certain terms
      amendment letter dated December 4, 2007 from TCE to Wireless Age, Wireless
      Source and Newlook, and the “Security” provided for therein, constitute the
      entire agreement between the parties hereto with respect to all matters herein
      and therein.

    

    5.           The
      Factoring Agreement is otherwise confirmed and the terms and conditions thereof
      shall continue in full force and effect as amended, modified and supplemented
      by
      this Agreement.  This Agreement shall form part of the Factoring
      Agreement and shall be interpreted in accordance with the terms and provisions
      of the Factoring Agreement and, for greater certainty, all general provisions
      thereof  are incorporated herein.

    

     

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

     

     

    
      
        	
                TCE
                  CAPITAL CORPORATION

                (TCE)

              	 	
                WIRELESS
                  AGE COMMUNICATIONS LTD.

                (Wireless
                  Age)

                 

              	 
	
                BY:

              	 	
                BY:

              	 
	
                Name:

              	 	
                Name:  Gary
                  Hokkanen

              	 
	
                Title:

              	 	
                Title:     Chief
                  Financial Officer

              	 
	
                (Authorized
                  Signing Officer)

              	 	
                (Authorized
                  Signing Officer)

              	 
	 	 	 	 
	
                WIRELESS
                  SOURCE DISTRIBUTION LTD.

                (Wireless
                  Age)

              	 	
                NEWLOOK
                  INDUSTRIES CORP.

                (Newlook)

                 

              	 
	
                BY:

              	 	
                BY:

              	 
	
                Name:   Gary
                  Hokkanen

              	 	
                Name:  John
                  G. Simmonds

              	 
	
                Title:     Chief
                  Financial Officer

              	 	
                Title:    CEO
                  and President

              	 
	
                (Authorized
                  Signing Officer)

              	 	
                (Authorized
                  Signing Officer)

              	 
	 	 	 	 
	
                WIRELESS
                  AGE COMMUNICATIONS, INC.

                (WACI)

                 

              	 	
                ONLINETEL
                  CORP.

                (Onlinetel)

              	 
	
                BY:

              	 	
                BY:

              	 
	
                Name:   Gary
                  Hokkanen

              	 	
                Name:  Jason
                  Moretto

              	 
	
                Title:     Chief
                  Financial Officer

              	 	
                Title:    President

              	 
	
                (Authorized
                  Signing Officer)

              	 	
                (Authorized
                  Signing Officer)

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