Document:

EX-10..1

EXECUTIVE EMPLOYMENT AGREEMENT

This Executive Employment Agreement (hereinafter referenced to as the “Agreement”) is made and
effective this first day of June 2005, by and between Pacific Biometrics, Inc. a Delaware
Corporation (hereinafter referenced to as the “Company”) and Ronald R. Helm (hereinafter referred
to as the “Executive”).

NOW, THEREFORE, the parties agree as follows:

1. Employment

Company hereby agrees to employ executive as CEO and President and Executive hereby accepts such
employment in accordance with the terms of this Agreement and the terms of employment applicable to
regular employees of Company. In the event of any conflict or ambiguity between the terms of this
Agreement and terms of employment applicable to regular employees, the terms of this Agreement
shall control.

2. Duties of Executive

The duties of Executive shall include the performance of all of the duties typical of the office
held by Executive as described in the bylaws of the Company and such other duties and projects as
may be assigned by the board of directors of the Company. Executive shall devote his full time
efforts, ability and attention to the business of the Company and shall perform all duties in a
professional, ethical and businesslike manner.

3. Compensation

Executive shall be paid compensation during the Agreement as follows:

	 	A.	 	Commencing July 1, 2005 and continuing for a period of two years a base salary of
$225,000 per year payable in installments according to the company’s regular payroll
schedule. The base salary may be increased at the end of each year of employment at the
discretion of the board of directors.

B. On July 1, 2005 a signing bonus of $15,000 shall be paid on a one-time basis.

	 	C.	 	Executive would be eligible for a bonus of 20 percent in year one based on revenue and
earnings as set forth by the compensation committee.

	 	D.	 	Executive would be eligible for a 30 percent bonus in year two (20 percent based on
revenue and earnings as determined by the Compensation Committee and an additional l0
percent based on personal individual, goals).

	 	E.	 	Executive shall be granted 160,000 option shares each year at the price on the date of
issuance. The first grant shall be on June 1 2005 and the second grant on July 1, 2006.
Said options shall be subject to the Company’s stock option plan.

4. Benefits

	 	A.	 	Holidays. Executive will be entitled to the same holiday schedule as provided to other
officers of the company as set forth in the Employment benefits plan and as modified from
time to time Company will notify Executive on or about the beginning of each calendar year
with respect to the holiday schedule for the coming year. All holidays must be taken during
the calendar year and cannot be carried forward into the next year.

	 	B.	 	Vacation. Executive shall be entitled to fifteen paid vacation days each year or the
same vacation benefit granted to other senior executives a.1: the Company, winch ever is
greater.

	 	C.	 	Sick Leave. Executive shall be entitled to sick leave and emergency leave according to
the regular policies and procedures of the company. Additional sick leave or emergency
leave over and above paid leave provided by the Company, if any, shall be unpaid and shall
be granted at the discretion of-the board of directors.

	 	D.	 	Medical and Group Life Insurance. Company agrees to include Executive in the group
medical and hospital plan of Company and provide group life insurance for Executive at no
charge to Executive during this Agreement. However, executive shall receive same benefits
as other officers of the Company. Executive shall be responsible for payment of any federal
or state income tax imposed on these benefits

	 	E.	 	Pension and Profit Sharing Plans. Executive shall be entitled to participate in any
pension or profit sharing plan or other type of plan adopted by Company for the benefit of
its officers and/or regular employees.

	 	F.	 	Expense Reimbursement. Executive shall be entitled to reimbursement for all reasonable
expenses, including travel and entertainment, incurred, by Executive in the performance of
Executive’s duties. Executive will maintain records and written receipts as required by the
Company policy.

	 	G.	 	Death Benefit. In the event of Executive’s death during the term of this agreement
Company agrees to make a one time payment of six months salary to Executive’s designee,
Robert Jason Helm (Executive’s son). In such instance, Company will have no further
obligation under this agreement to Executive or his estate except as may be due and called
for by law or as provided for by the Company benefits package.

5. Term and Termination

	 	A.	 	The term of this Agreement shall commence on June 1, 2005 and it shall continue
to June 30, 2007. Thereafter, the Agreement shall be renewed upon mutual agreement of
Executive and Company.

	 	B.	 	Company may terminate Executive for cause as defined in this paragraph. Cause is
defined as; Executive is in breach of any material obligation owed to Company in this
Agreement, engages in a criminal act or engages in any act of moral turpitude. The
Company may terminate this Agreement for Cause upon five (5) day’s notice to Executive.
In the event of termination of time Agreement pursuant to this subsection, Executive
shall be paid only at the then applicable base rate up to and including the date of
termination.

	 	C.	 	Executive may terminate this Agreement at Executive’s discretion by providing at
least thirty (30) days prior written notice to the company. In the event of termination
by Executive pursuant to this subsection, Company may immediately relieve Executive of
all duties and immediately terminate this Agreement, provided that Company shall pay
Executive at the then applicable base salary rate to the termination date included in
Executive’s original termination notice.

	 	D.	 	In the event Company is acquired, or is the non-surviving party in a merger, or
sells all or substantially all of its assets, Company agrees to pay Executive two times
the base annual salary less any money to be received from surviving entity or buyer.

	 	E.	 	In the event Company terminates executive without cause, Company shall be bound
to pay the unpaid salary and vacation amounts remaining under the agreement and pay a
pro rated amount of any bonus earned as of the date or termination.

6. Notices

Any notice required by this Agreement or given in connection with it, shall be in. writing and
shall be given to the appropriate party by personal delivery or by certified mail, postage prepaid,
or recognized overnight delivery services;

If to Company:

Pacific Biometrics, Inc.

220 West Harrison Street

Seattle, Washington 98119

If to Executive:

Ronald R. Helm

696 Ridgewood Road

Canon City, Colorado 81212

7. Final Agreement

This Agreement terminates and supersedes all prior understandings or agreements on the subject
matter hereof. This Agreement may be modified only by a further writing that is duly executed by
both parties.

8. Governing Law

This Agreement shall be construed and enforced in accordance with the laws of the State of
Washington.

9. Headings

Headings used in this Agreement are provided for convenience only and shall not be used to construe
meanings or intent.

10. No Assignment

Neither this Agreement nor any interest in this Agreement may be assigned by Executive without the
prior express written approval of Company, which may be withheld by company at Company’s absolute
discretion.

11. Severability

If any term of this Agreement is held by a court of competent jurisdiction to be invalid or
unenforceable, then this Agreement, including all of the remaining tents, will remain in full force
and effect as if such invalid or unenforceable term had never been included.

12. Arbitration

The parties agree that they will use their best efforts to amicably resolve any dispute arising out
of or relating to this Agreement. Any controversy, claim, or dispute that cannot be so resolved
shall be settled by final binding arbitration in accordance with the rules of the American
Arbitration Association and judgment upon the award rendered by the arbitrator or arbitrators may
be entered in any court having jurisdiction thereof. Any such arbitration shall be conducted in
King County, Washington, or such other place as may be mutually agreed upon by the parties. Within
fifteen (15) days after the commencement of the arbitration, each party shall select one person to
act as arbitrator, and the two arbitrators so selected shall select a third arbitrator within ten
(10) days of their appointment. Each party shall bear its own costs and expenses and an equal share
of the arbitrator’s expenses and administrative fees of arbitration.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the first date written.

 / /s/ Richard Palfreyman

By: Richard Palfreyman

Director and Chairman of the Pacific Biometrics, Inc. Board of Directors Compensation Committee

 /s/ Ronald R. Helm

By: Ronald R. Helm

ExecutiveRetirement Agreement - Dale C. Pond

RETIREMENT
AGREEMENT

 

THIS
RETIREMENT AGREEMENT (this “Agreement”), is made and entered into as of the 6th
day of June, 2005, by and between LOWE’S COMPANIES, INC. a North Carolina
corporation (the “Company”), and DALE C. POND (the “Executive”).

 

W I T N E
S S E T H:

 

WHEREAS,
the Executive is employed as the Senior Executive Vice
President—Merchandising/Marketing of the Company; and

 

WHEREAS,
the Company and the Executive have negotiated and agreed on the terms of this
Agreement providing for his retirement as an executive employee of the Company
and for the ongoing obligations of the parties following the Executive’s
retirement.

 

NOW,
THEREFORE, the parties hereby agree as follows:

 

1. Continued
Service; Retirement. The
Executive shall continue to serve as the Senior Executive Vice
President—Merchandising/Marketing of the Company through June 30, 2005 (the
“Retirement Date”), at which time his resignation from such position shall be
effective, and he shall retire and relinquish all positions and responsibilities
with the Company and its subsidiaries and affiliates.

 

2. Obligations
of the Company.

 

(a) Salary
and Benefits. For his
service to the Company through the Retirement Date, the Executive shall continue
to receive his current regular base salary and participate in all of the
Company’s incentive compensation and benefit plans and programs available to
senior executives and shall receive any and all payments and benefits earned up
to and through the Retirement Date.

 

(b) Outstanding
Equity Compensation Awards. The
award agreement for the one hundred thousand (100,000) deferred stock units
granted to the Executive on March 1, 2003 is hereby amended to provide that the
Executive shall become fully vested in such deferred stock units on the
Retirement Date. The Executive’s retirement in accordance with the terms and
provisions of this Agreement shall constitute a “Board Approved Retirement” for
purposes of the stock options, restricted stock and performance accelerated
restricted stock granted to the Executive on March 1, 2004 and March 1, 2005,
and accordingly, the Executive shall become fully vested in all such awards on
the Retirement Date. Exhibit
A attached
hereto summarizes all of the options granted to the Executive outstanding as of
the date of this Agreement, the vested status of such options as of the
Retirement Date and the last date for the Executive to exercise such options.
The Company acknowledges that the Executive has relied upon the information set
forth in Exhibit
A in
entering into this Agreement.

 

(c) Other
Benefits. The
Executive is a participant in the benefit plans listed on Exhibit
B attached
hereto. This Agreement shall not change the terms of such plans or the benefits
earned by or due to the Executive thereunder for services rendered to the
Company through the Retirement Date. The benefits earned by or due to the
Executive in accordance with the terms of such plans shall be paid or provided
by the Company or such plans (as the case may be) when due, and the full payment
and provision of such benefits shall discharge fully all obligations of the
Company and such plans with respect to the Executive’s benefits under such
plans.

 

(d) Release
of the Executive. In
consideration of the Executive’s entering into this Agreement, the Company, for
itself, its officers and directors, its subsidiaries and their respective
predecessors, successors and assigns, hereby releases and forever discharges the
Executive and his heirs, personal representatives, successors and assigns from
and against any and all claims, demands, damages, actions, causes of action,
costs and expenses, of whatever kind or nature, in law, equity or otherwise,
which the Company or any of said entities now has, may ever have had or may have
hereafter upon or by reason of any matter, cause or thing occurring, done or
omitted to be done prior to the date of this Agreement, including without
limitation all rights and claims the Company or any of said entities or any
third parties (including officers, directors and employees of the Company or its
subsidiaries) have or might have as a result of Executive’s status as an
officer, director or employee of the Company or any of said entities or the
termination of that status; provided,
however, that
this release shall not apply to any claims the Company may have, now or
hereafter, which arise out of or relate to any act by the Executive that
constituted gross negligence or willful misconduct in carrying out his duties or
obligations as an employee of the Company.

 

(e) Continuation
of Indemnification. The
Company agrees that if the Executive is made a party, or is threatened to be
made a party, to any action, suit or proceeding, whether civil, criminal,
administrative or investigative (a “Proceeding”), by reason of the fact that the
Executive was an officer or employee of the Company or was serving at the
request of the Company as director, officer, member, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise,
including service with respect to employee benefit plans, the Executive shall be
indemnified and held harmless by the Company to the fullest extent permitted or
authorized by the Company’s articles of incorporation and bylaws and such
indemnification shall continue to the Executive even though the Executive has
ceased to be a director, member, employee or agent of the Company or other
entity and shall inure to the benefit of the Executive’s heirs, executors and
administrators. The Company shall advance to the Executive all reasonable costs
and expenses incurred by the Executive in connection with a Proceeding within
twenty (20) days after receipt by the Company of a written request for such
advance. Such request, however, must include an undertaking by the Executive to
repay the amount of such advance if it shall ultimately be determined that the
Executive is not entitled to be indemnified against such costs and expenses. The
Company further agrees to continue and maintain a directors’ and officers’
liability insurance policy covering the Executive to the same extent as the
Company’s directors and officers are covered until such time as suits against
the Executive are no longer permitted by law.

 

3. Obligations
of the Executive.

 

(a) Non-Competition. For the
two (2) year period beginning on the Retirement Date, the Executive shall not
directly or indirectly engage in Competition (as defined below) with the
Company; provided, that it shall not be a violation of this Paragraph 3(a) for
the Executive to become the registered or beneficial owner of up to 5% of any
class of the capital stock of a competing corporation registered under the
Securities Exchange Act of 1934, as amended, provided that the Executive does
not actively participate in the business of such corporation until such time as
this covenant expires. For purposes of this Agreement, “Competition” by the
Executive shall mean the Executive’s engaging in, or otherwise directly or
indirectly being employed by or acting as a consultant or lender to, or being a
director, officer, employee, principal, agent, stockholder (other than as
specifically provided for herein), member, owner or partner of, or permitting
his name to be used in connection with the activities of any other business or
organization that owns, operates, controls or maintains retail or warehouse
hardware or home improvement stores in the United States, Puerto Rico, Canada or
Mexico with total annual sales of at least $500 million. Such businesses or
organizations include, but are not limited to, the following entities and each
of their subsidiaries, affiliates, assigns, or successors in interest, in whole
or in part: The Home Depot, Inc., Sears Holdings Corporation, Wal-Mart Stores,
Inc. and Menard, Inc.

(b) Non-Interference. For the
two (2) year period beginning on the Retirement Date, the Executive shall not
directly or indirectly (i) solicit
or induce any officer, director, regional vice president, district manager,
co-manager, store manager, regional human resource manager or regional loss
prevention manager of the Company to terminate his or her employment with the
Company or (ii)
solicit, contact or attempt to influence any vendor or supplier of the Company
to limit, curtail, cancel or terminate any business it transacts with the
Company.

 

(c) Confidential
Information. The
Executive shall hold in a fiduciary capacity for the benefit of the Company all
trade secrets, confidential information, and knowledge or data relating to the
Company and its businesses, which were obtained by the Executive during the
Executive’s employment by the Company. The Executive shall not, without the
prior written consent of the Company or as may otherwise be required by law or
legal process, communicate or divulge any such trade secrets, information,
knowledge or data to anyone other than the Company and those designated by the
Company.

 

(d) Release
of the Company. The
Executive covenants and agrees that the Executive hereby irrevocably and
unconditionally releases, acquits and forever discharges the Company, as well as
each of the Company’s officers, directors, employees, subsidiaries, and agents
(the Company and the Company’s officers, directors, employees, subsidiaries and
agents being collectively referred to herein as the “Releasees”), or any of
them, from any and all charges, complaints, claims, liabilities, obligations,
promises, demands, costs, losses, debts, and expenses (including attorneys’ fees
and costs actually incurred), of any nature whatsoever, in law or equity,
arising out of the Executive’s employment with the Company or the termination of
the Executive’s employment with the Company (other than any claim arising out of
the breach by the Company of the terms of this Agreement), including, without
limitation, all claims asserted or that could be asserted by the Executive
against the Company in any litigation arising from summonses and complaints
filed in federal, state or municipal court asserting any claim arising from any
alleged violation by the Releasees of any federal, state, or local statutes,
ordinances, or common law, including, but not limited to, the Age Discrimination
in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, the
Equal Pay Act, the Americans with Disabilities Act, the Fair Labor Standards
Act, the Employee Retirement Income Security Act of 1974, the Rehabilitation Act
of 1973, the Civil Rights Act of 1991, the Family and Medical Leave Act, the
Civil Rights Act of 1866, Section 1514A or and 1513(e) of
Chapter 73 of Title 18 of the United States Code; and any other employment
discrimination laws, as well as any other claims based on constitutional,
statutory, common law, or regulatory grounds, as well as any claims based on
theories of retaliation, wrongful or constructive discharge, breach of contract
or implied covenant, fraud, misrepresentation, intentional and/or negligent
infliction of emotional distress, or defamation, which the Executive now has,
owns, or holds, or claims to have, own, or hold, or which the Executive had,
owned, or held, or claimed to have, own or hold at any time before execution of
this Agreement, against any or all of the Releasees; provided,
however, that
the foregoing release shall not apply to any claims which the Executive may have
for the payments or provision of the benefits under this Agreement.

 

4. Tax
Withholding and Reporting. The
Company shall be entitled to withhold from the benefits and payments described
herein all income and employment taxes required to be withheld by applicable
law.

 

5. Governing
Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of North Carolina.

 

6. Notices. Any
notice or other communications to be given hereunder shall be deemed to have
been given or delivered when delivered by hand to the individuals named below or
when deposited in the United States mail, registered or certified, with proper
postage and registration or certification fees prepaid, addressed to the parties
as follows (or to such other address as one party shall give the other in the
manner provided herein):

 

If to the
Company, to:

 

Lowe’s
Companies, Inc.

1000
Lowe’s Boulevard

Mooresville,
North Carolina 28117

Attention:
Secretary and General Counsel

 

If to the
Executive, to the most recent address on the Company’s employment records for
the Executive.

7. Entire
Agreement. This
Agreement constitutes the entire agreement between the parties pertaining to the
subject matter contained herein and supersedes any and all prior and
contemporaneous agreements, representations, promises, inducements and
understandings of the parties. This written Agreement cannot be varied,
contradicted or supplemented by evidence of any prior or contemporaneous oral or
written agreements. Moreover, this written Agreement may not be later modified
except by a further writing signed by a duly authorized officer of the Company
and the Executive. 

 

8. Right
to Revoke Agreement.
Following the Executive’s execution and delivery of this Agreement to the
Company, the Executive shall have a seven-day period in which to revoke this
Agreement as provided in the Age Discrimination in Employment Act (“ADEA”)
(referred to as “Revocation Period”). During the Revocation Period, the
Executive may exercise this right by delivering written notice of revocation to
the Company at the address shown in paragraph 6 above. The Company shall not
have the right to revoke this Agreement during the Revocation
Period.

 

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

 

 

	 	 	 
	 	 	 /s/
      Dale C. Pond
	 	 	 Dale
      C. Pond
	 	 	 
	 	 	 LOWE'S
      COMPANIES, INC.
	 	 	 
	
      By:
	 	 /s/ Robert
      A. Niblock
	
       Name:
	 	
      Robert
      A. Niblock

	
       Title:
	 	 Chairman
      of the Board, President and Chief Executive
Officer

 

 

 

Exhibit A

Summary
of Outstanding Stock Options

 

	
      Option
      Grant Date
	
      No.
      of Shares
	
      Exercise
      Price
	
       

      Vested
      Status
	
      Last
      Date to Exercise

	
      03/01/05
	
      40,500
	
      $58.35
	
      Fully
      vested
	
      03/01/12

	
      03/01/04
	
      40,000
	
      $56.75
	
      Fully
      vested
	
      03/01/11

	
      03/01/03
	
      126,000
	
      $39.30
	
      Fully
      vested with respect to 84,000 shares; vested with respect to remaining
      42,000 shares on 03/01/06
	
      03/01/10

	
      03/01/02
	
      78,000
	
      $43.99
	
      Fully
      vested
	
      09/28/05

	
      02/01/02
	
      85,000
	
      $45.70
	
      Fully
      vested
	
      09/28/05

	
      03/01/01
	
      88,366
	
      $27.505
	
      Fully
      vested
	
      09/28/05

 

 

Exhibit
B

 

BENEFIT
PLANS

 

1. Lowe’s
401(k) Plan

 

2. Lowe’s
Welfare Plan

 

3. Lowe’s
Companies employee Stock Purchase Plan—Stock Options for Everyone

 

4. Lowe’s
Companies Benefit Restoration Plan

 

5. Lowe’s
Companies, Inc. Deferred Compensation Program

 

6. Lowe’s
Companies Cash Deferral Plan

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