Document:

Exhibit
10.9

 

October 14, 2008

 

By email

Nadezda Usina

59 Highbridge Road

Flagler Beach, FL 32136

 

Dear Nada:

 

This letter is written to
confirm the agreement that you have reached with JumpTV Inc.  (the “Company”) regarding the end of your
employment with the Company.

 

As you were previously
informed, you were informed that your employment with the Company ended on September 5,
2008 (the “Termination Date”).  In
accordance with your employment agreement effective August 31, 2007 (the “Employment
Agreement”), you will be paid for days worked, and vacation accrued, up to and
including the Termination Date.

 

Notwithstanding any
provisions in the Employment Agreement to the contrary, we have agreed that the
Company will provide you certain final payments and benefits in respect to the
end of your employment (the “Severance”) as follows:

 

1.               The Company will pay to you, or your estate,
Three Hundred sixty Nine Thousand Three Hundred Sixty Seven Dollars and Fifty
Cents ($369,367.50), which will be payable to you via check as follows: (i) $100,000
will be paid within five days of the execution of the Waiver and Release;
$100,000 will be paid on or before December 15, 2008; $100,000 will be
paid on or before April 15, 2009; and $69,367.50 will be paid on or before
July 15, 2009.

 

2.               You will receive accelerated vesting on
options for Sixty One Thousand Nine Hundred Seventy Nine (61,979) shares of
Company stock.  Such stock options carry
an exercise price of Sixty Four Cents ($.64) per share and must be
exerciseable, in whole or in part, within the 90-day period following the
Termination Date.

 

3.               The Company will pay all COBRA premiums for
you through for the one-year period beginning on the day after the Termination
Date, provided that you elect to continue your health benefits (medical and
dental) under COBRA.

 

4.               The Company will pay all insurance, short
term disability and long term disability benefits normally made available by
the Company to its senior management employees for a period of one year
following the Termination Date.  To the
extent that the Company is unable to offer one or more of the benefits to you
for all or a portion of this period, the Company will offer to make a one0time
payment to you equal to the amount of the premiums that would have been payable
for the remaining period.

 

 

This Severance is being
offered to you in exchange for your agreement to waive any claims that you may
have against the Company and its present and future owners, affiliates,
shareholders, officers, directors, parents, subsidiaries or employees.  As such, please review, sign and return the
Waiver and Release that is being provided to you concurrently with this letter.

 

Nothing in this letter
amends or alters the Waiver and Release or amends or cancels the obligations in
your Employment Agreement related to non-disclosure, non-solicitation,
non-competition or intellectual property.

 

If the foregoing is
acceptable, please sign, date and return this Agreement.  You may fax signed copies of the Agreement
and Release to me at 416-849-3700, but we must receive the original signature pages as
well.  Should you have any questions or
concerns, please do not hesitate to contact me at 416-426-1226.

 

	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
  /s/ Blair Baxter

  	
   

  
	
  Blair Baxter

  	
   

  
	
  Chief Financial Officer

  	
   

  
	
  JumpTV Inc.

  	
   

  
	
   

  	
   

  
	
  AGREED AND ACCEPTED

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Nadezda Usina

  	
   

  
	
  NADEZDA USINA

  	
   

  
	
   

  	
   

  
	
  Date:

  	
  Oct. 15,
  2008

  	
   

  
			

 

 

WAIVER
AND RELEASE

 

BE IT KNOWN THAT, Nadezda
Usina, as RELEASOR, in consideration of the Severance (defined in the letter
agreement of October 14, 2008 between RELEASOR and JumpTV, Inc.,
which is incorporated herein by reference and made a part hereof) from the
JumpTV Inc., as RELEASEE, receipt whereof is hereby acknowledged, releases and
discharges the release and its present and future predecessors, affiliates,
subsidiaries, owners, partners, officers, directors, shareholders, employees
and agents, heirs, executors, administrators, successors and assigns (each of
the aforementioned shall be individually referred to as a Released Party and
collectively as the “Released Parties”) all actions, causes of action, suits,
debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties,
covenants, contracts, controversies, agreements, promises, variances,
trespasses, damages, judgments, extents, executions, claims, and demands
whatsoever, in law, admiralty or equity, which against the Released Parties,
the RELEASOR, RELEASOR’S successors and assigns ever had, now have or hereafter
can, shall or may have, for, upon, or by reason of any matter, cause or thing
whatsoever from the beginning of the world to the day of the date of this
RELEASE.  Nothing in this RELEASE shall
be interpreted to mean that RELEASOR is releasing claims which first arise
after the date of the execution of this RELEASE.  In further consideration of the aforesaid,
RELEASOR agrees to maintain in confidence all proprietary and/or confidential
information of RELEASEE.

 

In further consideration of
the aforesaid, I agree that I will not disparage or encourage or induce others
to disparage any of the Released Parties, including the Company.  Similarly, in consideration for Releasor’s
signing of the Waiver and Release, Released Parties agree that they shall not
disparage or encourage or induce others to disparage Releasor.  For purposes of this Agreement, “disparage”
includes, without limitation, comments or statements to any person or entity,
which would adversely affect in any manner (a) the conduct of the business
of any individual Released Party or (b) the reputation of any individual
Released Party.

 

RELEASOR SPECIFICALLY WAIVES
ANY CLAIMS RELATING TO AGE, RACIAL, RELIGIOUS AND/OR GENDER DISCRIMINATION AND
ACKNOWLEDGES THAT A PORTION OF THE PAYMENT MADE IN CONNECTION HEREWITH IS
ATTRIBUTABLE TO THE WAIVER OF SUCH CLAIMS.

 

RELEASOR shall have the
right to review this RELEASE with counsel of RELEASOR’S choosing.  This RELEASE shall not be effective until
three (3) days after execution hereof.

 

RELEASOR and RELEASEE shall
keep in confidence the terms and existence of this Release and shall not disclose
same to any third party, provided however, nothing contained herein shall
prohibit RELEASOR from making any disclosures to RELEASOR’s legal advisors,
financial advisors and spous, or as required by law, or prohibit RELEASEE from
making any disclosures to its counsel, accountants or auditors, or employees
with a need to know its contents, or as required by law.

 

 

This RELEASE may not be
changed orally.

 

This RELEASE shall be
governed by, construed and enforced in accordance with, and subject to, the laws
of the State of Florida.

 

In the event of a judicially
established breach by RELEASOR of any of RELEASOR’s obligations under this
RELEASE, RELEASOR hereby agrees that RELEASEE shall be entitled to the return
of all monies and other consideration paid in connection with this RELEASE.

 

IN WITNESS WHEREOF, the
RELEASOR has executed this Release this 15th day of October, 2008.

 

 

	
   

  	
  /s/ Nadezda Usina

  	
   

  
	
  NADEZDA USINA

  
	
   

  
	
  STATE OF FLORIDA

  
	
  COUNTY OF FLAGLER

  

 

On 10/15, 2008 before me, Dianne
Gelles, personally came Nadezda Usina to me known, and known to me to be the
individual described in, and who executed the foregoing RELEASE, and duly
acknowledges to me that she executed same.

 

 

	
  /s/ Dianne H. Gelles

  	
    Notary Seal

  
	
  Notary PublicExhibit 10.10

 

August 10, 2007

 

Bill
Stephen

39
Mar-Kan Drive

Northport,
NY 11768

 

Dear Bill:

 

JumpTV Inc., a corporation organized under the laws
of Canada (the “Company”), is pleased to offer you employment with the
Company on the terms described below.

 

1.             Position.  You will start in
a full-time position as Head of Global Sales
on August 15, 2007 and you will
initially report to the Company’s President and Chief Operating Officer, Kaleil
Isaza Tuzman. Your primary duties will be to generate sales in initial target
markets of USA and Canada for all JumpTV assets, including JumpTV International
and JumpTV Sports; sales strategy and forecasting; tight coordination with Ad
Sales Operations, Marketing, Distribution & Sports properties; sales
planning and budgeting; sales team hiring and management; general leadership.
Travel is required. By signing this letter, you confirm with the Company that
you are under no contractual or other legal obligations that would prohibit you
from performing your duties with the Company.

 

2.             Compensation and Employee Benefits.  You
will be paid a starting wage at the rate of $200,000
USD annually or $16,666 monthly to be paid on the Company’s regular payroll
cycle.  You will receive a $50,000 year end bonus, so long
as you are still employed with the company at that time. As a regular
employee of the Company you will be
entitled to three weeks vacation in addition to statutory holidays. You will be
eligible to participate in the Company’s benefits plan (including medical
insurance). Additionally, you will receive up to $175,000 USD with achievement
of 100% of nine and twelve month revenue targets as set forth in plan delivered
no later than 90 days after start date and approved by the Company’s President
and Chief Operating Officer or designee. 
$50,000 USD of the $175,000 USD plan is guaranteed for the twelve month
plan as described and conditioned above. 
Additional upside is available is plan is overachieved.

 

3.             Incentive Compensation. You will receive up
to $175,000 USD with achievement of 100% of nine month and twelve month revenue
targets as set forth in plan delivered by you and approved by your direct
report no later than November 15,
2007. Additional upside is available if plan is overachieved.

 

4.             Stock Options.  On
the approval of the Company’s Board of Directors, following the expiration of
your 90 day probation period, you will be given an initial grant of 125,000 stock options vesting monthly at 1/48 ratio
shares of the Company’s common stock.  Your vesting schedule begins August 15,
2007.  The option will be subject to the
terms and conditions applicable to options granted under the Company’s stock
plan, as described in that plan and the applicable stock option agreement. You
will vest in these options in 48 equal monthly installments, subject to your
provision of continuous service
to the Company and any additional conditions set forth in the applicable stock
option agreement.  Please contact your
tax advisor regarding the tax implications of your option grant. The Company
reserves the right, in its sole discretion to revise, alter or eliminate the
plan.

 

5.             Confidential Information, Inventions Assignment and
Non-Competition Agreement.  Like all Company employees, you
will be required, as a condition of your employment with the Company, to 

 

 

sign the Company’s enclosed
standard Confidential Information, Inventions Assignment and Non-Competition
Agreement.

 

6.                                      Employment Relationship. 
Employment with the Company is for no specific period of time.  Your employment with the Company will be “at
will,” meaning that either you or the Company may terminate your employment at
any time and for any reason, with or without cause.  Any contrary representations which may have
been made to you are superseded by this offer. 
This is the full and complete agreement between you and the Company on
this term.  Although your job duties,
title, compensation and benefits, as well as the Company’s personnel policies
and procedures, may change from time to time, the “at will” nature of your employment
may only be changed in an express written agreement signed by you and the
Company’s Chief Executive Officer, President and/or Chief Operating Officer.

 

7.                                      Outside Activities.  While
you render services to the Company, you agree that you will not engage in any
other employment, consulting or other business activity without the written
consent of the Company.  In addition,
while you render services to the company, you will not assist any person or
entity in competing with the Company, in preparing to compete with the Company
or in hiring any employees or consultants of the Company.

 

8.                                      Withholding Taxes.  All
forms of compensation referred to in this letter are subject to applicable
withholding and payroll taxes.

 

9.                                      Entire Agreement.  This
letter supersedes and replaces any prior understandings or agreements, whether
oral, written or implied, between you and the Company regarding the matters
described in this letter.

 

If you wish to accept this offer, please sign and
date both the enclosed duplicate original of this letter and the enclosed
Confidential Information, Inventions Assignment and Non-Competition Agreement
and return them to me.  As required, by
law, your employment with the Company is also contingent upon your providing
legal proof of your identity and authorization to work in the United
States.  This offer, if not accepted,
will expire at the close of business on August 15, 2007.

 

We look forward to having you join us.

 

	
   

  	
   

  	
  Very
  truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  JUMPTV
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Kaleil Isaza Tuzman

  
	
   

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Kaleil
  Isaza Tuzman

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:
  

  	
  President
  and Chief Operating Officer

  
						

 

ACCEPTED AND AGREED:

 

[BILL STEPHEN]

 

2

 

	
  /s/ Bill Stephen

  	
   

  
	
  (Signature)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Date

  	
   

  

 

Attachment A: 
Confidential Information, Inventions Assignment and Non-Competition
Agreement

 

3

 

ATTACHMENT A

 

CONFIDENTIAL INFORMATION, 

INVENTIONS ASSIGNMENT

AND NON-COMPETITIONAGREEMENT

 

(See Attached)

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