Document:

Exhibit 10.2

    
      

    

     

    Exhibit
      10.2

     

    

      AGREEMENT
        BETWEEN

      GARY
        E. BAN AND OASYS MOBILE, INC. 

       

      THIS
        AGREEMENT (the "Agreement") is entered into as of the 29th
        day of
        September, 2006 (the "Effective Date") between Gary E. Ban ("Ban”) and Oasys
        Mobile, Inc., a Delaware corporation (“Oasys Mobile”). Ban and Oasys Mobile
        occasionally are referred to collectively herein as the "Parties."

       

      WHEREAS,
        Ban is an individual residing
        at 113 White Sands Drive, Cary, NC 27513; 

       

      WHEREAS,
        Oasys Mobile is a Delaware corporation with its principal place of business
        at
        434 Fayetteville Street, Suite 600, Raleigh, North Carolina 27601;

      

      WHEREAS,
        Ban currently serves as the Chief Executive Officer and as a Director of
        Oasys
        Mobile and desires to resign from these and any and all other positions with
        Oasys Mobile, its subsidiaries or affiliates; 

      

      WHEREAS,
        in consideration for the resignation from the positions as set forth above;
        and

      

      WHEREAS,
        the Parties agree that they knowingly and voluntarily executed this Agreement
        after having the opportunity to secure the advice of competent legal counsel
        of
        their choosing. 

      

      NOW
        THEREFORE, in consideration of the foregoing and of the mutual understandings
        set forth below, the receipt and sufficiency of which are hereby acknowledged,
        the Parties agree as follows:

       

      1.    OBLIGATIONS
        OF BAN. Ban
        agrees that:

       

      
        	 	
                (a)
                  

              	
                as
                  of the Effective Date, the Employment Agreement (the “Employment
                  Agreement”) between Oasys Mobile and Ban dated as of June 21, 2005, is
                  canceled and of no effect between the
                  Parties.

              

      

       

      
        	 	
                (b)

              	
                as
                  of the Effective Date, he shall resign from his positions as a
                  Director
                  and Chief Executive Officer of Oasys Mobile and from any and all
                  other
                  positions he may hold with Oasys Mobile, its subsidiaries or its
                  affiliates.

              

      

       

      
        	
              	(c)	
                he
                  shall return all of Oasys Mobile’s property in his possession including,
                  but not limited to, all written and electronic documents, electronic
                  equipment, check books and bank statements, debit cards, invoices,
                  accounting records, and all of the tangible and intangible property
                  belonging to the Company and relating to Ban’s employment with the
                  Company. Ban further represents and warrants that he has not retained
                  any
                  copies, electronic or otherwise, of such property. Ban further
                  waives any
                  rights to copies of company documents, except those to which he
                  may be
                  entitled as a shareholder pursuant to applicable statutes and
                  regulations.

              

      

       

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      
        	 	
                (d)

              	
                upon
                  receipt of all amounts to be paid to Ban pursuant to Section 2
                  of this
                  Agreement, he shall execute the Mutual Release (the “Mutual Release”)
                  between Ban and Oasys Mobile attached to this Agreement as Appendix
                  A.

              

      

       

      
        	 	
                (e)

              	
                he
                  shall not make any comments relating to Oasys Mobile or its employees
                  which are critical, derogatory or which may tend to injure the
                  business of
                  Oasys Mobile or the reputation of the employees.
                  

              

      

       

      
        	 	
                (f)

              	
                he
                  shall keep all matters related to this Agreement and the Mutual
                  Release
                  confidential, except to immediate family, Ban’s attorneys and financial
                  advisors and except as may be required by applicable
                  law.

              

      

       

       

      2.    OBLIGATIONS
        OF OASYS MOBILE.
        Oasys
        Mobile agrees that:

       

      
        	 	
                (a)

              	
                as
                  of the Effective Date, the Employment Agreement is canceled and
                  of no
                  effect between the Parties.

              

      

       

      
        	
              	(b)	
                it
                  shall pay Ban:

              

      

       

      
        	
              	(i)	
                his
                  earned and unpaid payroll owed to him through September 30, 2006,
                  in the
                  amount of $8,750.00. 

              

      

       

      
        	
              	(ii)	
                his
                  outstanding vacation pay in the amount of
                  $8,076.92.

              

      

       

      
        	
              	(iii)	
                a
                  lump sum severance payment of $210,000.00.

              

      

       

      
        	
              	(iv)	
                Reimbursable
                  expenses submitted to date in the amount of $4,851.04 and any other
                  reimbursable expenses made prior to the Effective Date.
                  

              

      

       

      
        	
              	(c)	
                it
                  shall provide Ban health care benefits as provided by Oasys Mobile
                  to all
                  of its employees in accordance with its corporate policies, however
                  in no
                  event less than the current level of health care benefits received
                  by Ban,
                  through September 30, 2007; provided, however, that if Ban receives
                  employment prior to September 30, 2007, this obligation shall terminate.
                   

              

      

       

      
        	
              	(d)	
                all
                  stock option grants to purchase shares of Oasys Mobile common stock
                  issued
                  to Ban prior to the Effective Date shall be vested in full and
                  shall
                  expire by their terms as set forth in the respective stock option
                  grant
                  documents. A list of the stock options is attached hereto as Exhibit
                  1.  

              

      

       

      
        	
              	(e)	
                upon
                  receipt by Oasys Mobile of the executed Mutual Release by Ban,
                  it
                     shall
                  execute the Mutual Release.

              

      

       

      
        	
              	(f)	
                it
                  shall not make any comments relating to Ban which are critical,
                  derogatory
                  or which may tend to injure Ban or his reputation.
                  

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (g)

              	
                it
                  shall keep all matters related to this Agreement and the Mutual
                  Release
                  confidential, except as to Oasys Mobile’s attorneys and financial advisors
                  and except as may be required by applicable law.
                  

              

      

       

      
        	 	
                (h)

              	
                Oasys
                  Mobile shall maintain Directors and Officers Insurance coverage
                  for Ban.
                  

              

      

      
 

      3.    REPRESENTATIONS
        AND WARRANTIES BY OASYS MOBILE. Oasys
        Mobile hereby represents, warrants, and covenants to Ban as
        follows:

       

      (a)    Organization,
        Good Standing and Power.
        Oasys
        Mobile is a corporation duly incorporated validly existing and in good standing
        under the laws of the State of Delaware and has all requisite corporate
        authority to carry on its business as now being conducted. 

       

      (b)    Authorization,
        Enforcement. 
        (i) Oasys Mobile has the requisite corporate power and corporate authority
        to
        enter into and perform its obligations under this Agreement; (ii) the execution
        and delivery of this Agreement by Oasys Mobile and the consummation by it
        of the
        transactions contemplated hereby have been duly authorized by all necessary
        corporate action and no further consent or authorization of Oasys Mobile
        or its
        Board of Directors or shareholders is required, and (iii) this Agreement
        shall
        constitute a valid and binding obligation of Oasys Mobile enforceable against
        Oasys Mobile in accordance with its terms, except as such enforceability
        may be
        limited by applicable bankruptcy, insolvency, reorganization, moratorium,
        liquidation, conservatorship, receivership or similar laws relating to, or
        affecting generally the enforcement of, creditors’ rights and remedies or by
        other equitable principles of general application.

       

      4.    SURVIVAL
        OF AGREEMENT.
        Notwithstanding the Parties' respective releases in the Mutual Release, all
        agreements, representations, warranties, rights, and obligations of the Parties
        under this Agreement and the documents attached hereto shall survive the
        execution and delivery of this Agreement and are not released by this
        Agreement.

       

      5.    AUTHORITY.
        The
        Parties hereby expressly represent and warrant to each other that they have
        entered into this Agreement voluntarily, with proper authority, and without
        any
        reservation. The Parties acknowledge that the only consideration for this
        Agreement is expressly set forth within this Agreement and no further
        inducements or representations have been exchanged in connection herewith.
        The
        Parties further hereby acknowledge that each Party has had adequate time
        to
        reflect upon, consider, and consult with legal counsel concerning the terms
        of
        this Agreement. The Parties further agree that this Agreement is not the
        result
        of fraud, duress, coercion, or undue influence on the part of either Party
        or
        its counsel. 

       

      6.    MUTUAL
        DRAFTING.
        The
        Parties agree that: (1) each Party to this Agreement has reviewed and revised
        this Agreement and, accordingly, the normal rule of construction (to the
        effect
        that any ambiguities are to be resolved against the drafting Party) will
        not be
        employed in any interpretation of this Agreement; and (2) if any part, term,
        or
        provision of this Agreement shall to any extent be declared unenforceable
        or
        illegal by a court of competent jurisdiction, the remainder of this Agreement
        shall not be affected thereby, and each part, term, or provision of this
        Agreement (including, but not limited to, any enforceable and legal portion
        of
        the challenged part, term, or provision) shall be valid and enforceable to
        the
        fullest extent permitted by law

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      7.    BINDING
        ON PARTIES IN INTEREST.
        The
        Parties agree that this Agreement shall be binding and inure to the benefit
        of
        the Parties, their successors, predecessors, agents, affiliates, parent
        corporations, subsidiaries, officers, shareholders, and assigns.

       

      8.    ASSIGNMENT.
        Neither
        Ban nor Oasys Mobile may assign or transfer this Agreement to any other person
        or entity except upon the prior written consent of the other Party.

       

      9.    AMENDMENT.
        This
        Agreement may be amended or modified only by a written agreement signed by
        all
        Parties, but any such amendment or modification shall not be deemed a waiver
        of
        any prior or subsequent breach of this Agreement unless so
        specified.

       

      10.    
        COOPERATION.
        The
        Parties agree to cooperate with each other in good faith in order to carry
        out
        the purposes of, and to effectuate, this Agreement, and to execute and deliver
        any and all additional documents necessary or appropriate to carry out and
        implement the provisions of this Agreement.

       

      11.        
        ENTIRE
        AGREEMENT. This
        Agreement, including the attachments hereto, embodies the entire agreement
        and
        understanding of the Parties hereto are an integral part of this Agreement
        and
        are incorporated by reference herein. This Agreement supersedes all prior
        agreements and understandings between the Parties with respect to the
        transactions contemplated by this Agreement. 

       

      12.        
        COUNTERPARTS.
        This
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        instrument.

       

      13.       
        WAIVER;
        CONSENT.
        Except
        as otherwise provided in this Agreement, any failure of one of the Parties
        to
        comply with any obligation, representation, warranty, covenant, agreement
        or
        condition herein may be waived by the Party entitled to the benefits thereof
        only by a written instrument signed by the Party granting such waiver, but
        such
        waiver or failure to insist upon strict compliance with such obligation,
        representation, warranty, covenant, agreement or condition shall not operate
        as
        a waiver of, or estoppel with respect to, any subsequent breach or other
        failure. Whenever this Agreement requires or permits consent by or on behalf
        of
        any Party hereto, such consent shall be given in writing in a manner consistent
        with the requirements for a waiver of compliance as set forth in this Agreement.
        

       

      14.        
        HEADINGS.
        The
        headings used in this Agreement are for convenience only and shall not limit
        or
        expand the meaning of the Agreement's provisions.

       

      15.        
        NOTICES
        AND CORRESPONDENCE.
        All
        notices and correspondence shall be sent by either Party to the other in
        all
        matters dealing with this Agreement, by certified mail or overnight courier,
        at
        the following addresses:

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      
        	
                TO
                  BAN: 

                 

                113
                  White Sands Drive

                Cary,
                  NC 27513 

              	
                TO
                  OASYS MOBILE:

                 

                434
                  Fayetteville Street

                Suite
                  600

                Raleigh,
                  NC 27601

                Attn:
                  General Counsel

                 

              

      

      

       

      ;or
        any
        other address timely provided by written notice to the other Party.

       

      16.        
        ATTORNEYS'
        FEES.
        In the
        event of default hereunder, the defaulting Party agrees to pay all reasonable
        attorneys' fees and costs of collection incurred in the filing and pursuit
        of
        any legal action to enforce this Agreement.

      

      17.        
        JURISDICTION.
        Oasys
        Mobile agrees to submit to the personal jurisdiction of the courts of the
        North
        Carolina for any proceedings arising out of obligations under this Agreement.
        

      

      18.        
        NORTH
        CAROLINA LAW TO APPLY. This
        Agreement shall be construed and enforced pursuant to the substantive and
        procedural laws of North Carolina (excluding its choice of law
        rules).

       

      IN
        WITNESS WHEREOF, the Parties, through their respective authorized
        representatives, set their hands to this Agreement on the dates indicated
        below.

       

      

       

      
        	
                GARY
                  E. BAN 

              	
                OASYS
                  MOBILE, INC. 

              
	 	 
	 	 
	
                /s/
                  Gary E. Ban

              	
                By: 
                  /s/ Donald T. Locke

              
	 	
                    
                  Name:  Donald T. Locke

              
	 	
                    
                  Title:  Executive Vice President

              
	 	 
	 	 
	
                Dated:
                  September 29, 2006

              	
                Dated:
                  September 29, 2006Non-Employee Director Compensation Policy and Stock Ownership Guidelines

 Exhibit 10.1 
 POPE & TALBOT, INC. 
 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY 
 AND STOCK OWNERSHIP GUIDELINES 
 The Compensation
Committee (the “Committee”) of the Board of Directors (the “Board”) of Pope & Talbot, Inc. (including its subsidiaries, the “Company”) has recommended, and the Board has approved, this Non-Employee Director
Compensation Policy and Stock Ownership Guidelines (this “Policy”). This Policy is effective as of January 1, 2005. 
 This document is in two
parts. The first part sets forth a policy with respect to the compensation of non-employee members of the Board (“Outside Directors”). The second part sets forth guidelines with respect to Outside Directors’ ownership of the
Company’s common stock. 
  

	I.	POLICY REGARDING COMPENSATION FOR SERVICE ON THE BOARD AND ITS COMMITTEES 

 As compensation for service on the Board and its committees, Outside Directors shall be entitled to the following fees: 
  

	1.	Annual Cash Retainer. On the date of each Annual Meeting of Shareholders, each Outside Director elected at or continuing to serve after that meeting shall receive $25,000
payable in cash as a retainer for service in the next one-year period. 

  

	2.	Annual Stock Retainer. On the date of each Annual Meeting of Shareholders, each Outside Director elected at or continuing to serve after that meeting shall receive, as an
additional retainer for service in the next one-year period, an award of the number of shares of Company common stock determined by dividing $25,000 by the closing per share price of the Company’s common stock as quoted on the NYSE on the date
of the meeting, rounded down to the nearest whole number of shares. 

  

	3.	Annual Presiding Director and Committee Chair Retainers. On the date of each Annual Meeting of Shareholders, the director selected to serve as the Presiding Director for the
ensuing year shall receive $25,000 in cash as a retainer for service in that capacity during the next one-year period. On the date of each Annual Meeting of Shareholders, the director selected to serve as the Chair of the Audit Committee for the
ensuing year shall receive $10,000 in cash as a retainer for service in that capacity during the next one-year period. On the date of each Annual Meeting of Shareholders, the director selected to serve as the Chair of any other Committee for the
ensuing year shall receive $7,500 in cash as a retainer for service in that capacity during the next one-year period. If a director becomes a Presiding Director or Chair of any Committee on a date other than the date of an Annual Meeting of
Shareholders, the new Presiding Director or Chair shall receive a fraction of the applicable cash retainer based on the number of whole or partial one-month periods remaining until the next Annual Meeting of Shareholders. 

	4.	Meeting Fees. Each Outside Director shall receive a fee of $1,500 for each Board meeting attended and a fee of $1,500 for each Committee meeting attended, either in person or
by teleconference. Such fees shall be in addition to reimbursement for reasonable expenses incurred by the Outside Directors in connection with attendance and such meetings (e.g., airfare, lodging, etc.). 

  

	5.	New Directors. If a person becomes an Outside Director on a date other than the date of an Annual Meeting of Shareholders, the new Outside Director shall receive a fraction
of the Annual Cash Retainer based on the number of whole or partial one-month periods remaining until the next Annual Meeting of Shareholders. A person who becomes an Outside Director on a date other than the date of an Annual Meeting of
Shareholders shall receive a fraction of the Annual Stock Retainer based on the number of whole or partial one-month periods remaining until the next Annual Meeting of Shareholders with the number of shares issuable to such person being determined
by reference to the closing per share price of the Company’s common stock as quoted on the NYSE on the date on which he or she becomes an Outside Director. 

  

	6.	Deferred Compensation Plan. Pursuant to the Company’s Non-Employee Directors Deferred Compensation Plan, Outside Directors may elect to defer, in whole or in part,
receipt of the Annual Cash Retainer, the Annual Stock Retainer and Annual Committee Chair Retainers. All such deferred compensation, whether otherwise payable in cash or in stock, shall be credited under the plan to accounts denominated in shares of
Company common stock (“Stock Accounts”), and all payouts of deferred compensation under the plan shall be in the form of Company common stock. 

  

	7.	Cash Retainers to Stock. As an additional means to achieve common stock ownership, an Outside Director may elect, by written notice to the Company prior to January 1 of
any year, to receive in the form of Company common stock all or any portion of the Annual Cash Retainer and any Annual Committee Chair Retainer to be paid to him or her on the Annual Meeting date in that year, with the number of shares of Company
common stock determined by dividing the dollar amount so elected by the closing per share price of the Company’s common stock as quoted on the NYSE on the date of the meeting, rounded down to the nearest whole number of shares.

  

	II.	GUIDELINES REGARDING STOCK OWNERSHIP 

 The Board believes that
Outside Directors will more effectively represent shareholders of the Company if the Outside Directors are themselves shareholders of the Company. Accordingly, the Board encourages Outside Directors to own shares of the Company’s common stock
and believes that each Outside Director should own a minimum of 5,000 shares of the Company’s common stock (the “Ownership Goal”). Each Outside Director shall achieve the Ownership Goal within the following parameters: 
  

	1.	 Time Period to Achieve Ownership Goal. Unless the Ownership Goal has been attained as of the effective date of this Policy (in which case it shall be
maintained consistent with this Policy so long as a person serves on the Board), each Outside Director shall have five 

	 	 
years from the effective date to attain the Ownership Goal. Any person who becomes an Outside Director after the effective date shall have five years from
the date on which such person becomes an Outside Director to achieve the Ownership Goal. 

  

	2.	Shares Counted Towards Ownership Goal. For purposes of the Ownership Goal, an Outside Director is deemed to own any shares of Company common stock (i) held by the
Outside Director (including shares received pursuant to this Policy), (ii) held by a trust of which the Outside Director is a trustee and primary beneficiary, and (iii) credited to the Outside Director’s Stock Account under the
Non-Employee Directors Deferred Compensation Plan. Shares subject to unexercised options (whether or not vested) will not count towards the Ownership Goal. 

  

	III.	OTHER PROVISIONS 

  

	1.	The Committee has the full authority to administer this Policy, including authority to interpret and construe any provision of the Policy as the Committee may deem necessary.
Decisions of the Committee shall be final and binding. 

  

	2.	The Committee has authority to obtain advice and assistance from internal or external legal, accounting or other advisors with respect to the administration of this Policy.

 Adopted: December 14, 2004 
 Amended: May 11, 2006; September 29, 2006

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