Document:

Form of Notice of Stock Purchase Right & related agreements Dated 1998

 Exhibit 10.2 
  
 SIRENZA MICRODEVICES, INC. 
  
 AMENDED AND RESTATED 1998 STOCK PLAN 
  
 NOTICE OF GRANT OF STOCK PURCHASE RIGHT 
  
 Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Notice of Grant. 
  
 [Grantee’s Name and Address] 
  
 You have been granted the right to purchase Common Stock of the Company,
subject to the Company’s Repurchase Option and your ongoing status as a Service Provider (as described in the Plan and the attached Restricted Stock Purchase Agreement), as follows: 
  

					
	 Grant Number
	 	 	 	  

	 Date of Grant
	 	 	 	  

	 Price Per Share
	 	 $
	 	  

	 Total Number of Shares Subject to This Stock Purchase Right
	 	 	 	  

	 Expiration Date:
	 	 	 	  

  
 YOU MUST EXERCISE THIS
STOCK PURCHASE RIGHT BEFORE THE EXPIRATION DATE OR IT WILL TERMINATE AND YOU WILL HAVE NO FURTHER RIGHT TO PURCHASE THE SHARES. By your signature and the signature of the Company’s representative below, you and the Company agree that this Stock
Purchase Right is granted under and governed by the terms and conditions of the Amended and Restated 1998 Stock Plan and the Restricted Stock Purchase Agreement, attached hereto as Exhibit A-1, both of which are made a part of this document.
You further agree to execute the attached Restricted Stock Purchase Agreement as a condition to purchasing any shares under this Stock Purchase Right. 
  

			
	GRANTEE:	 	SIRENZA MICRODEVICES, INC.
		
	  

	 	  

	 Signature
	 	 By

	  

	 	  

	 Print Name
	 	 Title

 EXHIBIT A-1 
  
 SIRENZA MICRODEVICES, INC. 
  
 AMENDED AND RESTATED 1998 STOCK PLAN 
  
 RESTRICTED STOCK PURCHASE AGREEMENT 
  
 Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Restricted Stock Purchase Agreement.

  
 WHEREAS the Purchaser named in the Notice of Grant (the
“Purchaser”) is a Service Provider and the Purchaser’s continued participation is considered by the Company to be important for the Company’s continued growth; and 
  
 WHEREAS in order to give the Purchaser an opportunity to acquire an equity interest in the Company as an incentive for the
Purchaser to participate in the affairs of the Company, the Administrator has granted to the Purchaser a Stock Purchase Right subject to the terms and conditions of the Plan and the Notice of Grant, which are incorporated herein by reference, and
pursuant to this Restricted Stock Purchase Agreement (the “Agreement”). 
  
 NOW THEREFORE, the parties agree as follows: 
  
 1. Sale of Stock. The Company hereby agrees to sell to the Purchaser and the Purchaser hereby agrees to purchase shares of the Company’s Common Stock (the “Shares”), at the per Share purchase
price and as otherwise described in the Notice of Grant. 
  
 2.
Payment of Purchase Price. The purchase price for the Shares may be paid by delivery to the Company at the time of execution of this Agreement of cash, a check, or some combination thereof. 
  
 3. Repurchase Option. 
  
 (a) In the event the Purchaser ceases to be a Service
Provider for any or no reason (including death or disability) before all of the Shares are released from the Company’s Repurchase Option (see Section 4), the Company shall, upon the date of such termination (as reasonably fixed and determined
by the Company) have an irrevocable, exclusive option (the “Repurchase Option”) for a period of sixty (60) days from such date to repurchase up to that number of shares which constitute the Unreleased Shares (as defined in Section 4) at
the original purchase price per share (the “Repurchase Price”). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or the Purchaser’s executor (with a copy to the Escrow Holder) AND,
at the Company’s option, (i) by delivering to the Purchaser or the Purchaser’s executor a check in the amount of the aggregate Repurchase Price, or (ii) by canceling an amount of the Purchaser’s indebtedness to the Company equal to
the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals the aggregate 

 Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price, the
Company shall become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Shares being
repurchased by the Company. 
  
 (b) Whenever the
Company shall have the right to repurchase Shares hereunder, the Company may designate and assign one or more employees, officers, directors or shareholders of the Company or other persons or organizations to exercise all or a part of the
Company’s purchase rights under this Agreement and purchase all or a part of such Shares. 
  
 4. Release of Shares From Repurchase Option. 
  
 (a)
                                        
         percent (            %) of the Shares shall be released from the Company’s Repurchase Option [one year] after the Date
of Grant and
                                        
     percent (            %) of the Shares [at the end of each month thereafter], provided that the Purchaser does not cease to be a Service Provider
prior to the date of any such release. 
  
 (b)
Any of the Shares that have not yet been released from the Repurchase Option are referred to herein as “Unreleased Shares.” 
  
 (c) The Shares that have been released from the Repurchase Option shall be delivered to the Purchaser at the Purchaser’s request (see
Section 6). 
  
 5. Restriction on Transfer. Except for the
escrow described in Section 6 or the transfer of the Shares to the Company or its assignees contemplated by this Agreement, none of the Shares or any beneficial interest therein shall be transferred, encumbered or otherwise disposed of in any way
until such Shares are released from the Company’s Repurchase Option in accordance with the provisions of this Agreement, other than by will or the laws of descent and distribution. 
  
 6. Escrow of Shares. 
  
 (a) To ensure the availability for delivery of the Purchaser’s Unreleased Shares upon repurchase by the Company pursuant to the
Repurchase Option, the Purchaser shall, upon execution of this Agreement, deliver and deposit with an escrow holder designated by the Company (the “Escrow Holder”) the share certificates representing the Unreleased Shares, together with
the stock assignment duly endorsed in blank, attached hereto as Exhibit A-2. The Unreleased Shares and stock assignment shall be held by the Escrow Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached hereto
as Exhibit A-3, until such time as the Company’s Repurchase Option expires. 
  
 (b) The Escrow Holder shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares in escrow
while acting in good faith and in the exercise of its judgment. 
  
 (c) If the Company or any assignee exercises the Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such exercise from the proposed transferee, shall take all steps necessary to
accomplish such transfer. 
  

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 (d) When the Repurchase Option has been exercised or expires unexercised or a portion of
the Shares has been released from the Repurchase Option, upon request the Escrow Holder shall promptly cause a new certificate to be issued for the released Shares and shall deliver the certificate to the Company or the Purchaser, as the case may
be. 
  
 (e) Subject to the terms hereof, the
Purchaser shall have all the rights of a shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. If, from time to time
during the term of the Repurchase Option, there is (i) any stock dividend, stock split or other change in the Shares, or (ii) any merger or sale of all or substantially all of the assets or other acquisition of the Company, any and all new,
substituted or additional securities to which the Purchaser is entitled by reason of the Purchaser’s ownership of the Shares shall be immediately subject to this escrow, deposited with the Escrow Holder and included thereafter as
“Shares” for purposes of this Agreement and the Repurchase Option. 
  
 7. Legends. The share certificate evidencing the Shares, if any, issued hereunder shall be endorsed with the following legend (in addition to any legend required under applicable state securities laws):

  
 THE SHARES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO CERTAIN RESTRICTIONS UPON TRANSFER AND RIGHTS OF REPURCHASE AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
  
 8. Adjustment for Stock Split. All references to the number of Shares
and the purchase price of the Shares in this Agreement shall be appropriately adjusted to reflect any stock split, stock dividend or other change in the Shares that may be made by the Company after the date of this Agreement. 
  
 9. Tax Consequences. The Purchaser has reviewed with the
Purchaser’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. The Purchaser is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents. The Purchaser understands that the Purchaser (and not the Company) shall be responsible for the Purchaser’s own tax liability that may arise as a result of the transactions contemplated by
this Agreement. The Purchaser understands that Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), taxes as ordinary income the difference between the purchase price for the Shares and the Fair Market Value of the
Shares as of the date any restrictions on the Shares lapse. In this context, “restriction” includes the right of the Company to buy back the Shares pursuant to the Repurchase Option. The Purchaser understands that the Purchaser may elect
to be taxed at the time the Shares are purchased rather than when and as the Repurchase Option expires by filing an election under Section 83(b) of the Code with the IRS within 30 days from the date of purchase. The form for making this election is
attached as Exhibit A-4 hereto. 
  
 THE
PURCHASER ACKNOWLEDGES THAT IT IS THE PURCHASER’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER 
  

 -3- 

 SECTION 83(b), EVEN IF THE PURCHASER REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON
THE PURCHASER’S BEHALF. 
  
 10. General Provisions.

  
 (a) This Agreement shall be governed by the
internal substantive laws, but not the choice of law rules of Colorado. This Agreement, subject to the terms and conditions of the Plan and the Notice of Grant, represents the entire agreement between the parties with respect to the purchase of the
Shares by the Purchaser. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan shall prevail. Unless
otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Agreement. 
  
 (b) Any notice, demand or request required or permitted to be given by either the Company or the Purchaser pursuant to the terms of this
Agreement shall be in writing and shall be deemed given when delivered personally or deposited in the U.S. mail, First Class with postage prepaid, and addressed to the parties at the addresses of the parties set forth at the end of this Agreement or
such other address as a party may request by notifying the other in writing. 
  
 Any notice to the Escrow Holder shall be sent to the Company’s address with a copy to the other party hereto. 
  
 (c) The rights of the Company under this Agreement shall be transferable to any one or more persons or entities, and all covenants and
agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. The rights and obligations of the Purchaser under this Agreement may only be assigned with the prior written consent of the Company.

  
 (d) Either party’s failure to enforce
any provision of this Agreement shall not in any way be construed as a waiver of any such provision, nor prevent that party from thereafter enforcing any other provision of this Agreement. The rights granted both parties hereunder are cumulative and
shall not constitute a waiver of either party’s right to assert any other legal remedy available to it. 
  
 (e) The Purchaser agrees upon request to execute any further documents or instruments necessary or desirable to carry out the purposes or
intent of this Agreement. 
  
 (f) PURCHASER
ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO SECTION 4 HEREOF IS EARNED ONLY BY CONTINUING SERVICE AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED OR PURCHASING SHARES HEREUNDER). PURCHASER
FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING
PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH PURCHASER’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE PURCHASER’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
  

 -4- 

 By Purchaser’s signature below, Purchaser represents that he or she is familiar with the terms and
provisions of the Plan, and hereby accepts this Agreement subject to all of the terms and provisions thereof. Purchaser has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Agreement and fully understands all provisions of this Agreement. Purchaser agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this
Agreement. Purchaser further agrees to notify the Company upon any change in the residence indicated in the Notice of Grant. 
  

			
	 DATED:
                                        
            
	  	 
		
	PURCHASER:	  	SIRENZA MICRODEVICES, INC.
		
	
 Signature
	  	
 By

	  

 Print
Name
	  	
 Title

  

 -5- 

 EXHIBIT A-2 
  
 ASSIGNMENT SEPARATE FROM CERTIFICATE 
  
 FOR VALUE RECEIVED I,
                                        
                , hereby sell, assign and transfer unto
                                        
            
                                        
             (                    ) shares of the Common Stock of
Sirenza Microdevices, Inc., standing in my name of the books of said corporation represented by Certificate No.              herewith and do hereby irrevocably constitute and appoint
                                        
                             to transfer the said stock on the books of the within named
corporation with full power of substitution in the premises. 
  
 This Stock Assignment may be used only in accordance with the Restricted Stock Purchase Agreement (the “Agreement”) between Sirenza Microdevices, Inc. and the undersigned dated
                        ,             . 
  
 Dated:
                        ,              
  
 Signature:                                     
                
  
 INSTRUCTIONS: Please do not fill in any blanks other than the signature line. The purpose of this assignment is to enable the Company to exercise the Repurchase Option, as set forth in the Agreement, without
requiring additional signatures on the part of the Purchaser. 
  

 EXHIBIT A-3 
  
 JOINT ESCROW INSTRUCTIONS 
  
                                 ,
             
  
 Corporate Secretary 
 Sirenza Microdevices, Inc. 
 303
S. Technology Court 
 Broomfield, CO 80021 
  
 Dear Corporate Secretary 
  
 As Escrow Agent for both Sirenza Microdevices, Inc., a Delaware corporation (the “Company”), and the undersigned purchaser of stock of the
Company (the “Purchaser”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Restricted Stock Purchase Agreement (“Agreement”) between the Company and the
undersigned, in accordance with the following instructions: 
  
 1.
In the event the Company and/or any assignee of the Company (referred to collectively as the “Company”) exercises the Company’s Repurchase Option set forth in the Agreement, the Company shall give to Purchaser and you a written notice
specifying the number of shares of stock to be purchased, the purchase price, and the time for a closing hereunder at the principal office of the Company. Purchaser and the Company hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice. 
  
 2. At the closing, you are directed (a) to date the stock assignments necessary for the transfer in question, (b) to fill in the number of shares being transferred, and (c) to deliver same, together with the
certificate evidencing the shares of stock to be transferred, to the Company or its assignee, against the simultaneous delivery to you of the purchase price (by cash, a check, or some combination thereof) for the number of shares of stock being
purchased pursuant to the exercise of the Company’s Repurchase Option. 
  
 3. Purchaser irrevocably authorizes the Company to deposit with you any certificates evidencing shares of stock to be held by you hereunder and any additions and substitutions to said shares as defined in the
Agreement. Purchaser does hereby irrevocably constitute and appoint you as Purchaser’s attorney-in-fact and agent for the term of this escrow to execute with respect to such securities all documents necessary or appropriate to make such
securities negotiable and to complete any transaction herein contemplated, including but not limited to the filing with any applicable state blue sky authority of any required applications for consent to, or notice of transfer of, the securities.
Subject to the provisions of this paragraph 3, Purchaser shall exercise all rights and privileges of a shareholder of the Company while the stock is held by you. 

 4. Upon written request of the Purchaser, but no more than once per calendar year, unless the
Company’s Repurchase Option has been exercised, you shall deliver to Purchaser a certificate or certificates representing so many shares of stock as are not then subject to the Company’s Repurchase Option. Within 90 days after Purchaser
ceases to be a Service Provider, you shall deliver to Purchaser a certificate or certificates representing the aggregate number of shares held or issued pursuant to the Agreement and not purchased by the Company or its assignees pursuant to exercise
of the Company’s Repurchase Option. 
  
 5. If at the time of
termination of this escrow you should have in your possession any documents, securities, or other property belonging to Purchaser, you shall deliver all of the same to Purchaser and shall be discharged of all further obligations hereunder.

  
 6. Your duties hereunder may be altered, amended, modified or
revoked only by a writing signed by all of the parties hereto. 
  
 7. You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and
to have been signed or presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Purchaser while acting in good faith, and any act done or
omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 
  
 8. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation,
excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree, you shall not be liable to
any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered
without jurisdiction. 
  
 9. You shall not be liable in any
respect on account of the identity, authorities or rights of the parties executing or delivering or purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 
  
 10. You shall not be liable for the outlawing of any rights under the statute
of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 
  
 11. You shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your
obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor. 
  

 -2- 

 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be an officer
or agent of the Company or if you shall resign by written notice to each party. In the event of any such termination, the Company shall appoint a successor Escrow Agent. 
  
 13. If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations
in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
  
 14. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to retain in
your possession without liability to anyone all or any part of said securities until such disputes shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent
jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 
  
 15. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal
delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties thereunto entitled at the following addresses or at such other addresses as a party may
designate by ten days’ advance written notice to each of the other parties hereto. 
  

			
	COMPANY:	  	Sirenza Microdevices, Inc.
	 	  	303 S. Technology Court
	 	  	Broomfield, CO 80021
		
	PURCHASER:	  	  

	 	  	  

	 	  	  

		
	ESCROW AGENT:	  	Corporate Secretary
	 	  	Sirenza Microdevices, Inc.
	 	  	303 S. Technology Court
	 	  	Broomfield, CO 80021

  
 16. By signing these
Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions; you do not become a party to the Agreement. 
  
 17. This instrument shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns.

  

 -3- 

 18. These Joint Escrow Instructions shall be governed by, and construed and enforced in accordance with,
the internal substantive laws, but not the choice of law rules, of Colorado. 
  

	
	 Very truly yours,

	
	 SIRENZA MICRODEVICES, INC.

	
	  

	 By

	
	  

	 Title

	
	 PURCHASER:

	
	  

	 Signature

	
	  

	 Print Name

  

	
	 ESCROW AGENT:

	
	  

	 Corporate Secretary

  

 -4- 

 EXHIBIT A-4 
  
 ELECTION UNDER SECTION 83(b) 
  

OF THE INTERNAL REVENUE CODE OF 1986 
  
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer’s gross income for the
current taxable year the amount of any compensation taxable to taxpayer in connection with his or her receipt of the property described below: 
  

	1.	The name, address, taxpayer identification number and taxable year of the undersigned are as follows: 

  

					
	 NAME:
	  	 TAXPAYER:
	  	 SPOUSE:

			
	 ADDRESS:
	  	 	  	 
			
	 IDENTIFICATION NO.:
	  	 TAXPAYER:
	  	 SPOUSE:

			
	 TAXABLE YEAR:
	  	 	  	 

  

	2.	The property with respect to which the election is made is described as follows:              shares (the
“Shares”) of the Common Stock of Sirenza Microdevices, Inc. (the “Company”). 

  

	3.	The date on which the property was transferred is:             ,     .

  

	4.	The property is subject to the following restrictions: 

  
 The Shares may be repurchased by the Company, or its assignee, upon certain events. This right lapses with regard to a portion of the Shares based on the
continued performance of services by the taxpayer over time. 
  

	5.	The fair market value at the time of transfer, determined without regard to any restriction other than a restriction which by its terms will never lapse, of such property is:
$            . 

  

	6.	The amount (if any) paid for such property is: $            . 

  
 The undersigned has submitted a copy of this statement to the person for whom the services
were performed in connection with the undersigned’s receipt of the above-described property. The transferee of such property is the person performing the services in connection with the transfer of said property. 
  
 The undersigned understands that the foregoing election may not be revoked except with the
consent of the Commissioner. 
  

					
	 Dated:
	 	                                 ,     
   
	  	  

	 	 	 	  	 Taxpayer

	
	 The undersigned spouse of taxpayer joins in this election.

	 Dated:
	 	                                 ,     
   
	  	  

	 	 	 	  	 Spouse of TaxpayerEmployment Agreement between the Company and Randall G. Smith

 EXHIBIT 10.9 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”), dated as of September 1, 2004, between OmniComm Systems, Inc., a Delaware corporation, (the
“Company”), and Randall G. Smith (the “Executive”). 
  
 WITNESSETH: 
  
 WHEREAS, the Executive has
experience in managing at a senior level the technology of a publicly traded company (or a division of such a company) involved in the clinical trials business; 
  

WHEREAS, the parties acknowledge that the Executive’s abilities and services are unique and essential to the prospects of the Company; and,

  
 WHEREAS, in light of the foregoing, the Company desires
to employ the Executive as its Chief Technology Officer and the Executive desires to accept such employment. 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Employment. The Company hereby employs the Executive and the Executive hereby accepts employment upon the terms and conditions
hereinafter set forth. 
  
 2. Term and Termination.
This Agreement shall commence on September 1, 2004 for a term of one-year and shall automatically renew for successive one-year terms unless terminated by: 
  

	 	(a)	the death or disability of the Executive. Disability shall mean the Executive’s inability, due to sickness or injury, to perform effectively his duties hereunder for a period
of at least 90 consecutive days; 

  

	 	(b)	thirty (30) days after notice is given by the Company to the Executive after a material breach hereof by the Executive; or, 

  

	 	(c)	thirty (30) days after notice is given by the Executive to the Company after a material breach hereof by the Company. 

  
 The exercise of the Company’s or the Executive’s right to terminate this Agreement
pursuant to clause (b) or (c) hereof, as the case may be, shall not abrogate the rights and remedies of the terminating party in respect of the breach giving rise to such termination. 
  
 3. Salary. For all services rendered under this Agreement: 
  

	 	(a)	During the term of his employment, the Company shall pay the Executive an annual salary of $150,000. The Executive’s salary may be paid in the form of cash and/or stock, as
agreed upon by the parties. This amount may be increased at the discretion of the Board of Directors and shall be adjusted to compensate for annual cost of living increases. 

  

	 	(b)	During the term of his employment, the Executive shall be entitled to participate in employee benefit plans or programs of the Company, if any, to the extent the Executive is
eligible to participate thereunder. Such plans and programs shall include, but not be limited to, the following: 

  

	 	i.	major medical health insurance for the Executive, his spouse and two children; and 

  

	 	ii.	four weeks paid vacation. 

	 	(c)	The Executive shall be permitted to participate in the Company’s stock option plan. 

  

	 	(d)	The Company shall also pay the Executive a bonus based upon achieving technology related milestones set forth in a particular calendar year. The Executive shall be entitled to
receive a bonus to be agreed upon by the Executive and the Company’s Board of Directors. The Company’s Board of Directors and the Executive shall agree upon the milestones and if the Executive meets the milestone conditions, he shall be
paid 30 days after the end of the Company’s calendar year. 

  

	 	(e)	The Executive shall also be entitled to severance pay equal to six (6) months salary and benefits in the event of termination by the Company for any reason other than commission of
a felony or a crime involving moral turpitude relating to services provided to the Company, or termination by the Company pursuant to Paragraph 2(c). Options which have vested prior to the date of termination shall remain exercisable during the
severance period. Unvested options shall terminate in accordance with the terms of the respective Stock Option Agreements. 

  
 4. Duties. The Executive shall be employed as Chief Technology Officer of the Company and, subject to the direction of the Board of Directors and
the Company’s officers designated by the Board of Directors, shall perform and discharge well and faithfully the duties which may be assigned to him from time to time by the Company in connection with the conduct of its business. If the
Executive is elected or appointed a director of the Company or any subsidiary thereof during the term of this Agreement, the Executive will serve in such capacity without further compensation. 
  
 5. Extent of Services. Except as set forth below, the Executive shall
devote his entire time, attention and energies to the business of the Company and shall not during the term of this Agreement be engaged, whether or not during normal business hours, in any other business or professional activity, whether or not
such activity is pursued for gain, profit, or other pecuniary advantage. Notwithstanding the foregoing, the Executive shall be allowed to serve on the Board of Directors of other companies so long as such Board participation does not interfere with
the Executive fulfilling his duties to the Company and the Executive obtains the prior written approval of the Company’s Board of Directors. In addition, the Executive shall be allowed to provide consulting services to other companies so long
as he obtains the prior written approval of the Company’s Board of Directors, turns over to the Company the entire amount of the compensation he receives as a result of providing such services, and provides such services no more than three (3)
days per month. 
  
 6. Disclosure of Information. The
Executive recognizes and acknowledges that the Company’s trade secrets and proprietary information and processes, as they may exist from time to time, are valuable, special and unique assets of the Company’s business, access to and
knowledge of which are essential to the performance of the Executive’s duties hereunder. The Executive will not, during or after the term of his employment by the Company, in whole or in part, disclose such secrets, information or processes to
any person, firm, corporation, association or other entity for any reason or purpose whatsoever, nor shall the Executive make use of any such property for his own purposes or for the benefit of any person, firm, corporation or other entity except
the Company under any circumstances during or after the term of his employment, provided that after the term of his employment these restrictions shall not apply to such secrets, information and processes which are then in the public domain provided
that the Executive was not responsible, directly or indirectly, for such secrets, information or processes entering the public domain without the Company’s consent. The Executive agrees to hold as the Company’s property, all memoranda,
books, papers, letters, formulas and other data, and all copies thereof and therefrom, in any way relating to the Company’s business and affairs, whether made by him or otherwise coming into his possession, and on termination of his employment,
or on demand of the Company, at any time, to deliver the same to the Company. In the event an action is instituted and prior knowledge is an issue, it shall be the obligation of the Executive to prove by clear and convincing evidence that the
confidential information disclosed was in the public domain, was already known by the Executive prior to his employment with the Company, or was developed independently by the Executive. 
  

 2 

 7. Inventions. The Executive hereby sells, transfers and assigns to the Company or to any person,
or entity designated by the Company, all of the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable material, made or conceived by the
Executive, solely or jointly, or in whole or in part, during the term hereof which (i) relate to methods, apparatus, designs, products, processes or devices sold, leased, used or under construction or development by the Company or any subsidiary, or
(ii) otherwise relate to or pertain to the business, functions or operations of the Company or any subsidiary, or (iii) arise wholly or partly from the efforts of the Executive during the term hereof. The Executive shall communicate promptly and
disclose to the Company, in such form as the Company requests, all information, details and data pertaining to the aforementioned inventions, ideas, disclosures and improvements; and, whether during the term hereof or thereafter, the Executive shall
execute and deliver to the Company such formal transfers and assignments and such other papers and documents as maybe required of the Executive at the Company’s expense to permit the Company or any person or entity designated by the Company to
file and prosecute the patent applications and, as to copyrightable material, to obtain copyright thereon. Any invention by the Executive within one (1) year following the termination of this Agreement shall be deemed to fall within the provisions
of this paragraph unless proved by the Executive to have been first conceived and made following such termination. 
  
 8. Covenant Not to Compete. 
  

	 	(a)	During the term hereof and for a period of one (1) year thereafter, the Executive shall not compete, directly or indirectly, with the Company, interfere with, disrupt or attempt to
disrupt the relationship, contractual or otherwise, between the Company and any customer, client, supplier, consultant, or employee of the Company and any customer, client, supplier, consultant or employee of the Company, including, without
limitation, employing or being an investor (representing more than 5% equity interest) in, or officer, director, or consultant to, any person or entity which employs any former key or technical employee whose employment with the Company was
terminated after the date which is one year prior to the date of termination of the Executive’s employment therewith. An activity competitive with an activity engaged in by the Company shall mean performing services whether as an employee,
officer, consultant, director, partner, or sole proprietor for any person or entity engaged in the business then engaged in by the Company, which services involve the development and marketing of a web-based system to collect, manage, and compile
clinical trial and research data. 

  

	 	(b)	It is the desire and intent of the parties that the provisions of this Section shall be enforced to the fullest extent permissible under the laws and public policies applied in each
jurisdiction in which enforcement is sought. Accordingly, if any particular portion of this Section shall be adjudicated to be invalid or unenforceable, this Section shall be deemed amended to delete therefrom the portion thus adjudicated to be
invalid or unenforceable, such deletion to apply only with respect to the operation of this Section in the particular jurisdiction in which such adjudication is made. 

  

	 	(c)	Nothing in this Section shall reduce or abrogate the Executive’s obligations during the term of this Agreement under Sections 4 and 5 hereof. 

  
 9. Remedies. If there is a breach or threatened breach of the
provisions of Section 6, 7 or 8 of this Agreement, the Company shall be entitled to an injunction restraining the Executive from such breach. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies for such
breach or threatened breach. 
  
 10. Assignment. This
Agreement may not be assigned by any party hereto; provided that the Company may assign this Agreement: 
  

	 	(a)	to an affiliate so long as such affiliate assumes the Company’s obligations hereunder; provided that no such assignment shall discharge the Company of its obligations herein,
or 

  

 3 

	 	(b)	in connection with a merger or consolidation involving the Company or a sale of more than 50% of the Company’s securities or assets, to the surviving corporation or purchaser
as the case may be, so long as such assignee assumes the Company’s obligations thereunder. 

  
 11. Notices. Any notice required or permitted to be given under this Agreement shall be sufficient if in writing and sent by registered mail to the
Executive at his residence at: 
  
 Randall G.
Smith 
 214 N. Park Ave. 
 Batesville, IN 47006 
  
 and to the Company at:

  
 OmniComm Systems, Inc. 
 2555 Davie Road, Suite 110-B 
 Davie, Florida 33317 
 Attention: Chief Financial Officer 
  
 12. Waiver of Breach. A waiver by the Company or the Executive of a
breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any subsequent breach by the other party. 
  
 13. Entire Agreement. This instrument contains the entire agreement of the parties. It may be changed only by an agreement in writing signed by a
party against whom enforcement of any waiver, change, modification, extension or discharge is sought. 
  
 14. Governing Law. This Agreement shall be construed in accordance with the laws of the State of Florida. All questions with respect to the
construction hereof and the rights and liabilities of the parties hereto shall be governed by the laws of the State of Florida. Any action or proceeding arising out of or relating hereto shall be brought in Miami-Dade County, State of Florida.

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

			
	OmniComm Systems, Inc.
		
	By:	 	 /s/ Cornelis. F. Wit

	 	 	Cornelis Wit
	 	 	Chief Executive Officer

  
 Executive 
  

			
	 	 	 /s/ Randall G. Smith

	 	 	Randall G. Smith

  

 4

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