Document:

ex10-5.htm

    Exhibit 10.5

     

    
 

    Approved
January 27, 2010

    2010 DIRECTOR
FEES

    

    
      	
               

              NATIONAL PENN BANCSHARES

            	 
      
	
              Outside
      Directors only

            	
              Paid
      Quarterly

            
	 
      
	
              Retainers:  Board
      members must attend in person or by phone 75%

            
	
              of
      meetings (Board and Committee Meetings combined) to be
  paid

            
	
              retainer.  Committees
      include:  Audit, Executive Compensation

            	 
      
	
              Nominating/Corp.
      Governance, Directors Enterprisewide Risk

            	 
      
	
              Management,
      Technology Risk, and Finance/Investment Committee

            	 
      
	 
      	 
      
	
              Chairperson
      of Board

            	
              $61,200

            
	
              Chairperson
      of Audit Committee

            	
              16,200

            
	
              Chairperson
      of Executive Committee (other than Chairperson of Board)

            	
              13,700

            
	
              Chairperson
      of Compensation Committee

            	
              13,700

            
	
              Chairperson
      of Nominating/Corporate Governance Committee

            	
              13,700

            
	
              Chairperson
      of Directors Enterprisewide Risk Management Committee

            	
              13,700

            
	
              Chairperson
      of Technology Risk Committee

            	
              13,700

            
	
              Chairperson
      of Finance/Investment Committee

            	
              13,700

            
	
              All
      Other Board Members

            	
              11,200

            
	 
      	 
      
	
              Board Meeting Fees (per meeting
      attended)

               

            	
              $  1,500

            
	
              Committee Fees (per meeting
      attended)

            	 
      
	 
      	 
      
	
              Audit
      Committee Members, including Chairperson

            	
              $     750

            
	
              Audit
      Committee Meeting by Conference Call

            	
              750

            
	
              Chairperson
      of Audit Committee also receives fee per phone

            	
              250

            
	
                 meeting
      with accountants

            	 
      
	
              Audit
      Committee Member attendance at Executive Disclosure

            	
              750

            
	
                 Committee
      meeting

            	 
      
	 
      	 
      
	
              All
      Other Committee Members, including Chairperson (Executive,

            	
              500

            
	
                 Compensation,
      Nominating/Corp Governance, Directors’

            	 
      
	
                 Enterprisewide
      Risk Management, Technology Risk, and

            	 
      
	
                 Finance/Investment
      Committee)

            	 
      
	
              All
      Other Committee Phone Meetings

               

            	
              500

            
	
              Director Education

            	 
      
	
              Per
      day (includes travel day)

            	
              $     750

            
	 
      	 
      
	
              Strategic Planning
Workshops

            	 
      
	
              Entire
      workshop

            	
              $  1,000

            
	 
      	 
      
	
              NATIONAL PENN BANK

            	
              Paid
      Quarterly

            
	
              Outside
      Directors only (per meeting attended)

            
	 
      	 
      
	
              Retainers:

            	 
      
	 
      	 
      
	
              Board
      meetings (held quarterly)

            	
              $  1,000

            
	
              Phone
      meetings

            	
              1,000

            
	 
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

        
          Approved
January 27, 2010

        

      

    

    

    
      	
              Committee Fees (per meeting
      attended):

            	 
      
	 
      	 
      
	
              Committee
      Phone meetings

            	
              500

            
	 
      	 
      

    

    

    
      	
              DIRECTOR EMERITUS

            	 
      
	
              This
      retainer covers all meetings attended. Includes Bank and

            	
              $  2,000

            
	
              Bancshares
      Board Meetings and any committee meetings the

            	 
      
	
              Director
      Emeritus may attend.

            	 
      
	 
      	 
      
	
               

              NATIONAL PENN BANK ADVISORY
      BOARDS

            	 
      
	
              Outside
      directors only

            	 
      
	 
      	 
      
	
              Meeting Fees (per meeting unless otherwise
      noted)

            	 
      
	
              Berks
      County Advisory Board

            	
              $     250

            
	
              FirstService
      Bank

            	
              250

            
	
              HomeTowne
      Heritage Advisory Board - annual fee

            	
              6,000

            
	
              Nittany
      Bank – annual fee

            	
              18,000

            
	
              Nittany
      Advisory – Bellefonte

            	
              100

            
	
              Nittany
      Advisory – State College

            	
              100

            
	
              KNBT
      Advisory – Northern

            	
              250

            
	 
      	 
      
	
              NATIONAL PENN WEALTH MANAGEMENT,
      N.A.

            	 
      
	
              Outside
      directors only

            	 
      
	 
      	 
      
	
              Meeting Fees (per meeting
      attended):

            	 
      
	
              Board
      Meetings

            	
              $     500

            
	
              Phone
      Meetings

            	
              500

            
	
              Travel
      expense allowance-annual (non-employees only)

            	
              500

            
	 
      	 
      
	
              NATIONAL PENN INSURANCE SERVICES GROUP,
      INC.

            	 
      
	
              Outside
      Directors only

            	 
      
	 
      	 
      
	
              Board
      Meeting Fee (per meeting attended)

            	
              $    500

            
	
              Travel
      expense allowance-annual (non-employees only)

            	
              500

            
	 
      	 
      
	
              CHRISTIANA BANK AND TRUST
      COMPANY

            	 
      
	
              Outside
      Directors only

            	 
      
	 
      	 
      
	
              Meeting Fees (per meeting
      attended)

            	 
      
	
              Board
      Meetings

            	
              $  1,000

            
	
              Audit
      Committee Members, including Chairperson

            	
              750

            
	
              Trust
      Committee Members, including Chairperson

            	
              500

            
	
              Travel
      expense allowance-annual

            	
              500licec_ex1040.htm

 

    
      

    

    Exhibit 10.40

     

    

       

       

      THIS
AMENDMENT AGREEMENT is dated the 2nd day of June, 2009,

       

      BETWEEN:

       

      LIVE
CURRENT MEDIA INC., a corporation incorporated under the laws of Nevada (the
"Company"),

       

      - and
-

       

      JONATHAN
EHRLICH of Vancouver, British Columbia (the "Executive").

       

      WHEREAS
the Company and the Executive (collectively, "the parties") entered into an
agreement (the "Employment Agreement") dated as of September 8, 2007 pursuant to
which the Company employed the Executive as therein provided until January 31,
2009;

       

      AND
WHEREAS the parties entered into an agreement dated February 4, 2009, amending
the Employment Agreement (the "Separation Agreement");

       

      AND
WHEREAS the Executive has secured new employment and, therefore, the parties.
wish to amend the Separation Agreement as set forth herein;

       

      NOW
THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and
the terms and conditions contained herein, the parties covenant and agree with
each other that the Separation Agreement be amended as follows:

       

      1.          
Section 2(b)(i)-(ii): As of September 1, 2009, the remaining severance allowance
and additional benefits to be paid to Executive shall be paid in equal
semi-monthly installments over a period of ten (10) months rather than over a
period of five (5) months. As a result, the gross amount of each payment
representing the severance allowance and additional benefits will be reduced by
50% and the
payments will continue through June 30, 2010. The payments will continue to be
paid on each of the Company's regular paydays and shall be subject to the
Company's normal payroll practices,

       

      2.           Section
2(b)(iii): The Executive will defer the net monthly equity payments that
the Company is obligated to pay him
during the 2009 calendar year to December 31, 2009.

       

      3.           Section
2tb)(iv): Commencing September 1, 2009, the Company will no longer pay for and
administer Executive's MSP and Sun Life benefits or Executive's monthly cell
phone expense.

       

      4.           Section
2(b)(v): The parties agree that Executive shall not be entitled to relocation
expenses under the Separation Agreement.

       

      5.           Executive
acknowledges that he is not entitled to any other compensation, benefit, or
payment from the Company other than that expressly set forth in this Agreement,
The Executive further agrees that the amounts paid and the value of benefits
provided herein may be applied as a set-off against any later claim that he may
make.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      6.           The
Executive acknowledges that he has not relied upon the Company or its legal
counsel for any advice in connection with the tax treatment of the payments set
forth herein. The Executive agrees to indemnify and hold the Company harmless
from any and all claims or liability, including costs and legal fees, incurred
as a result of the Executive's tax treatment of the payments set forth herein,
or in respect of income tax payable by Executive that was not withheld, or in
respect of any Employment Insurance or Canada Pension Plan amounts payable by
the Company relating to or arising from Executive's employment or the
termination thereof,

       

      7.           Other
than as provided herein, all of the terms and conditions of the Employment
Agreement and the Separation Agreement shall remain in full force and effect,
Without limiting the foregoing, Executive specifically acknowledges his
continuing duties and obligations under paragraphs 8 (Inventions, Etc.), 9
(Ion-Competition), 10 (No Solicitation of Customers), 11 (No Solicitation of
Employees), and 12 (Confidentiality) of the Employment Agreement.

       

      8.           Executive
acknowledges that he:

       

      (a)           has
had sufficient time to review and consider this Agreement
thoroughly;

       

      (b)           has
read and understands the terms of this Agreement and his obligations hereunder;
and

       

      (c)           has
been given an opportunity to obtain independent legal advice, or such other
advice as he may desire concerning the interpretation and effect of this
Agreement.

       

      IN WITNESS WHEREOF
the parties have executed this Agreement as of the day and year first
above written.

       

       

      
        
          	 
      	
                  LIVE
      CURRENT MEDIA INC.

                
	 
      	 
      
	 
      	
                  By:  /s/ C. Geoffrey
      Hampson                                   
      

                
	 
      	
                  C.
      Geoffrey Hampson

                
	 	 
	 	 
	 
      	
                  /s/ Jonathan
      Ehrlich                                                   
      

                
	 
      	
                  Jonathan
      Ehrlich

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